Coinbase, Aave, And Circle Form Coalition to Promote Tokenized Assets: Report

Key Points:

• The Tokenized Asset Coalition seeks to bring traditional financial assets to public blockchains.
• The coalition includes major players like Coinbase, Circle, and Aave.
• The focus is onboarding institutions into the tokenized asset space with a focus on education.

The Tokenized Asset Coalition, including Coinbase, Circle, Aave, Goldfinch, Credix, RWA.xyz, and Base, aims to bring traditional financial assets to public blockchains, as per The DeFiant.

Major players in the cryptocurrency industry are coming together to form the Tokenized Asset Coalition (TAC) with the goal of bringing traditional financial assets onto public blockchains. With institutions looking for more efficient and cost-saving ways to lend, subsectors of the real-world asset (RWA) space like tokenized Treasuries have grown nearly 500% to well over $600M this year.

The TAC, which includes Coinbase, Circle, Aave, Goldfinch, Credix, RWA.xyz, and Base, will focus specifically on onboarding institutions into the tokenized asset space with a focus on education. The newly-formed coalition will hold its inaugural Real World Asset Summit on September 19 in New York, with the hopes of pushing this technology forward.

Lucas Vogelsang, the CEO and co-founder of Centrifuge, a founding member of TAC, sees this coalition as an effort to accelerate what he sees as finance’s next evolution. “We’re trying to work together to make this technology mature faster,” he said. “Ultimately it’s [about] growing the pie.” The CEO emphasized the potential for increased liquidity across asset classes as an additional advantage of on-chain finance.

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