The decentralized finance protocol Ondo Finance and the venture capital firm Pantera Capital plan to increase their investment in real-world assets (RWA), demonstrating a growing interest in tokenization as the regulatory environment in the U.S. gradually improves.
The two companies revealed to Axios that they plan to invest $2.5 billion in the RWA sector through a new fund called Ondo Catalyst. Ondo's Chief Strategy Officer Ian De Bode stated that the funds will be used to acquire equity and tokens in emerging projects.
"We are currently witnessing an 'arms race' in the RWA tokenization market," De Bode said in an interview with Axios, referring to the increasing number of companies entering the field. In particular, exchanges are focusing on tokenized stocks and exchange-traded fund (ETF) products.
As Cointelegraph recently reported, the digital brokerage Robinhood has launched a new Layer-2 blockchain that allows European customers to trade tokenized U.S. stocks and ETFs.
In May of this year, Kraken announced plans to offer tokenized U.S. stock trading services to investors outside the U.S.
Meanwhile, it has been reported that the cryptocurrency exchange Coinbase is also seeking regulatory approval to provide tokenized stock services, a move that will help it compete with Robinhood and other trading platforms.
Ondo Finance continues to expand its on-chain financial layout, recently announcing the formation of a global market alliance with several crypto companies to promote the adoption of blockchain capital markets. This Thursday, the company announced that the OKX wallet has joined the alliance.
Earlier this year, the company launched Ondo Global Markets, aimed at bringing traditional financial markets onto the blockchain.
Notably, Ondo has received support from Peter Thiel's Founders Fund. It is reported that the fund is actively assisting in the establishment of new crypto-friendly banks.
The construction of a new tokenized economy is gaining multi-level support from both the industry and the government. U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins has pledged to pave the way for tokenization innovation.
After a period dominated by enforcement-led regulation, the SEC under Atkins has now shifted its focus to "how to drive market innovation," he stated earlier this week in an interview with CNBC.
The latest industry report released by RedStone, Gauntlet, and RWA.xyz shows that since 2022, the market size for RWA tokenization has grown by as much as 380%, reaching $24 billion as of June. It is worth noting that this data does not include stablecoins, which have a total market capitalization exceeding $250 billion.
The RedStone report indicates that private credit and U.S. Treasury bonds are the main drivers of RWA growth.
Related: Bitstamp obtains license from the Monetary Authority of Singapore to operate in Singapore
Original article: “$2.5 Billion Ondo Catalyst Fund Signals RWA Tokenization ‘Arms Race’”
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