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Tokenization
Competition among blockchains to grab some of the RWA market, new lending pool from Credix that supports Colombian farmer, the first-ever tokenization under Spain’s new laws, how the U.K’s regulations may lead to the country becoming a tokenization hub, and more for the week ending July 27, 2023.
Backed by Alexis Ohanian and OpenSea, the newly-launched platform has created blockchain-based solutions for several pain points associated with buying and selling high-end physical collectibles.
Self-styled crypto skeptic Michael Hsu, the acting head of the U.S. Office of the Comptroller of the Currency (OCC), said tokenization of assets is a serious advance into the future of finance, but decentralized blockchains may be too problematic to handle that movement.
The Swiss firm aims to allow financial institutions and corporates to issue tokenized assets on the Ethereum layer 2 network.
The combined market capitalization of tokenized money market funds is nearing $500 million as high yields in traditional markets attract crypto capital.
The head of the bank’s Onyx Digital Assets platform, Tyrone Lobban said there is added caution post-FTX, but JPMorgan’s strategy hasn’t at all changed.
The tokenized gold market reached over $1 billion in value last month, the report said.
The tokenization of vehicle titles could enable fractionalized vehicle ownership, the report said.
Tokenization of real-world assets has been dismissed by many crypto purists for operating under a centralized framework, but new technological advances have migrated the process from closed, permissioned projects onto public, permissionless blockchain platforms. This could offset traditional finance risks and broaden investment opportunities.
Pedro Palandrani of Global X discusses where KKR, Starbucks and others are going with the tokenization movement.