MakerDAO, known for MKR token and DAI stablecoin, announced a $1 billion plan for tokenized treasuries to drive industry innovation. The Spark Tokenization Grand Prix competition, starting on August 12, 2024, aims to onboard $1 billion in assets, focusing on US Treasury Bills. Criteria include pricing, liquidity, and alignment with SparkDAO's vision. Maker Governance will make final decisions. The initiative aligns with DeFi trends, like Arbitrum diversifying $24.5 million into various products. Tokenized treasury market cap has grown from $580.3 million to $1.85 billion YoY. Geographic and regulatory restrictions may apply. Superstate's USTB intends to participate. MakerDAO and Arbitrum's moves reflect the growing tokenized treasury sector. RWA.xyz data shows a 218.8% increase in market cap. BeInCrypto ensures unbiased reporting and advises independent verification before decision-making. Read more AI-generated news on: https://app.chaingpt.org/news
