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 reported to be cooperating with financial service provider Apex Group to discuss the creation of a tokenized money market fund. .
Coinbase intends to create tokenized fund products
According to people familiar with the matter, Coinbase, which is currently the custodian of eight Ethereum ETFs, and its institutional asset management company Coinbase AM are working with Apex Group to plan to launch a tokenized money market fund.
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, and L2 The technical advantages of Internet Base have become a bridge for traditional assets to be uploaded to the chain.
(Coinbase launches smart contract platform Project Diamond to overseas institutional customers)
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 becomes a hot topic among institutions
RWA's technology and applications have been around for many years, and after the launch of asset management giant BlackRock and Franklin Templeton's "USD Institutional Digital Liquidity Fund (BUIDL)" and "Franklin OnChain US Government Money Fund (FOBXX)" Flourish.
According to data from the tokenized asset analysis platform RWA.xyz, the former reached a scale of US$500 million within four months after its launch, and the latter followed closely with a market value of US$420 million.
Obviously, tokenization based on blockchain technology has become a hot topic between cryptocurrency and traditional finance. Many financial giants, including Fidelity, Goldman Sachs and State Street Bank, have tokenized bonds this month. , stablecoins, deposit tokens and other applications to express interest:
When you look back at the past year, almost every bank, broker-dealer, or asset manager was in discussions about how traditional assets could be issued on permissioned blockchains or public blockchains.
(Cryptocurrency arbitrage is highly profitable? Superstate launches tokenized crypto arbitrage fund USCC)
For investors, tokenized products provide transparency and higher potential liquidity; while for issuers, tokenized products bring efficiency improvements.
However, a report last month 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.
(Decrypting tokenization: RWA has been over-hyped, and asset tokenization will also create problems)
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