Stablecoin issuer Tether announced on Thursday it has launched a real-world asset tokenization platform called Hadron, that will allow users to tokenize "anything."
"Tether’s new platform aims to offer a vast variety of asset types starting with vanilla reference products such as fiat-pegged or commodity-backed stablecoins, to more complex solutions such as digital asset collateralized tokens including basket-collateralized products," the company said in a statement.
Although Tether specifically mentions users being able to tokenize stocks, bonds, stablecoins and loyalty points, the release says the platform "will allow the tokenization of anything" and includes an illustration showing images of physical assets like a golf course, bitcoin mining equipment, jewelry and a sports jersey.
The launch of Hadron represents one more move by Tether to diversify from its core business of issuing the world's largest U.S. dollar-pegged stablecoin, USDT, which has a supply of $133 billion, according to The Block Data Dashboard. Besides exploring opportunities in traditional finance and commodities trading, Tether has also made investments in other industries, including agriculture.
"We’re making asset tokenization easier, secure and scalable," Tether CEO Paolo Ardoino said in a statement.
Along with Ripple deploying functionality for tokenizing real-world assets, the startup Plume Network is also tokenizing various assets, including solar farms, private credit, Medicaid-backed invoices and mineral rights. In July, RWA platform AgriDex said it assisted in transporting 200 bottles of olive oil and numerous cases of wine.
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