Realio Network token RIO has risen by 108% in the past week, ONDO has doubled in a week, and BlackRock's entry has once again ignited the RWA track
RWA protocol ondo finance token ONDO broke above $0.9 and is currently trading at $0.93, up 29% in 24 hours. In addition to ONDO, other RWA protocol tokens also saw impressive gains. Recently, RWA track protocol tokens have risen, and many project tokens have continued to hit record highs.
Among them, the Ondo Finance token ONDO broke through $0.9 and is now trading at $0.9050, up 22.96% in 24 hours. In the past week, ONDO has risen by more than 110%. Ondo Finance, a Web3 services company that creates and manages institutional-grade financial products, including U.S. Treasuries and money market funds, around which Ondo has built DeFi protocols that have met the yield needs of organizations, DAOs, and high-net-worth individuals.
Founded in 2021 by Nathan Allman, Ondo Finance has raised $24 million to date from investors including Pantera Capital, Founders Fund, Coinbase Ventures, and Tiger Global. Team members have extensive backgrounds in various institutions and protocols such as Goldman Sachs, Fortress, Bridgewater, and MakerDAO.
Realio Network token, RIO, a Layer1 network that focuses on the issuance and management of RWA, also followed suit, rising 108% in the past week. Real estate token investment marketplace Propchain Token PROPC has gone up 61.9% over the past week and 29.1% over 24 hours.
Why has the RWA track been able to attract money so quickly in the near future? The community believes that it has something to do with the tokenized fund BUIDL launched by BlackRock last week.
On March 21, BlackRock launched its first tokenized fund to be issued on a public blockchain, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). BUIDL will subscribe to the fund through Securitize Markets, LLC, providing accredited investors with the opportunity to earn gains in U.S. dollars. BlackRock pays daily accrued dividends directly into investors' wallets as new tokens. The fund invests 100% of its total assets in cash, U.S. Treasuries, and repurchase agreements, allowing investors to earn yield while holding tokens on the blockchain.
Securitize, a digital asset securities company focusing on RWA and a large business scale, obtained SEC transfer agent registration in 2019 and received a $48 million financing round co-led by blockchain capital and Morgan Stanley Investment Management's tactical value in 2021.
In 2022, Securitize provided a tokenized investment fund for KKR funds in the United States, and last year, Securitize announced that it would provide tokenization services to asset manager Hamilton Lane's private credit fund.
Therefore, the partnership with Securitize has undoubtedly reaffirmed BlackRock's bullish attitude towards the RWA track. As a Wall Street giant representing traditional finance, BlackRock's Bitcoin ETF holdings have reached $15 billion, and entering RWA is an important strategic move for BlackRock to embrace digital assets after ETFs, and it has also become an important thrust for the RWA track in the crypto field.
RWA is a fungible or non-fungible token that represents traditional financial assets on the blockchain. RWA can represent both tangible assets, such as real estate, and intangible assets, such as government bonds and carbon credits. RWA covers almost all real-world assets that can play a critical role, such as: commodities, real estate, Treasuries, insurance.
BlackRock recently launched its first tokenized asset fund, BUIDL, on the Ethereum network. Financial institutions have invested a lot of money in tokenization, which is good for the entire crypto market. At BlackRock and C.o.i.n.b. A.. s.. With the joint efforts of e., the field of RWA may change completely.
RWA has become the second most popular narrative in this cycle after Solana Memecoin. Projections suggest that the market size of RWA could reach $10 trillion by 2030. There is no doubt that the RWA sector has great potential and can be fully unleashed in 2024-2025.
(Source: Sherl, ardizor, Felix)
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