According to The DeFiant, the Tokenized Asset Coalition (TAC) has been formed by major players in the cryptocurrency industry, including Coinbase, Circle, Aave, Goldfinch, Credix, RWA.xyz, and Base, with the goal of bringing traditional financial assets onto public blockchains. The focus of the coalition is on onboarding institutions into the tokenized asset space with an emphasis on education. The TAC will hold its inaugural Real World Asset Summit on September 19 in New York to promote the advancement of this technology.
As institutions seek more efficient and cost-saving ways to lend, subsectors of the real-world asset (RWA) space, such as tokenized Treasuries, have grown nearly 500% to well over $600M this year. Lucas Vogelsang, the CEO and co-founder of Centrifuge, a founding member of TAC, views the coalition as an effort to accelerate the next evolution of finance. He believes that working together will help the technology mature faster and ultimately grow the pie. Vogelsang also highlighted the potential for increased liquidity across asset classes as an additional advantage of on-chain finance.