RWA craze! Coinbase Asset Management plans to launch tokenized market fund

This site (120bTC.coM): Coindesk reported that the US exchange Coinbase has also followed the footsteps of many local banking giants and entered the tokenization market. Its asset management department is rumored to be in partnership with financial service provider Apex Group Cooperate to discuss the creation of a tokenized money market fund.

Coinbase intends to create tokenized fund products

Informed sources revealed that Coinbase, which is currently the custodian of eight Ethereum ETFs, and its institutional asset management company Coinbase AM are cooperating with Apex Group to launch a tokenized currency market funds.

As part of its continued push into the tokenization field, Coinbase AM acquired digital asset management company One River in March last year, and launched the digital asset management platform "Project Diamond" in December last year, combining its Coinbase Prime, Web3 wallet, As well as the technical advantages of L2 network Base, it has become a bridge for traditional assets to be uploaded to the chain.

It is reported that Apex Group, as a financial services company, provides financing, financial product custody, regulatory compliance and other services to financial institutions, asset managers and enterprises.

RWA has become a hot topic among institutions

RWA’s technology and applications have been around for many years, and have been used in asset management giants BlackRock and Franklin Templeton’s “USD Institutional Digital Liquidity Fund (BUIDL)” and “Franklin OnChain U.S. Government Currency Fund (FOBXX)" has flourished since its launch.

According to data from the tokenized asset analysis platform RWA.xyz, the former reached a scale of US$500 million within four months of its launch, while the latter followed closely behind with a market value of US$420 million.

Obviously, tokenization based on blockchain technology has become a hot topic between cryptocurrencies and traditional finance. Many financial giants, including Fidelity, Goldman Sachs and State Street, have all launched tokens this month. Express interest in applications such as chemical bonds, stablecoins, and deposit tokens: When you look back at the past year, almost every bank, broker-dealer, or asset manager was working on how to convert traditional assets on permissioned blockchains or public Issuance on the blockchain is discussed.

For investors, tokenized products provide transparency and higher potential liquidity; while for issuers, tokenized products bring efficiency improvements.

However, last month’s report by the World Federation of Exchanges (WFE) also showed that tokenization can be an innovative solution for traditional finance, but it is not a panacea for all financial institutions and is still subject to technical and regulatory limitations. .

The above is the detailed content of RWA craze! Coinbase Asset Management plans to launch tokenized market fund. For more information, please follow other related articles on the PHP Chinese website!