The real opportunity in RWA may be about more than just putting assets on-chain
I’ve been following the development of RWA lately.
Yesterday, I saw a report that BNY Mellon and Citadel Securities had completed a collateralized financing transaction involving tokenized U.S. Treasuries.
I think this is worth paying attention to.
Many RWA projects in the past have mainly focused on bringing traditional assets like government bonds and stocks onto the blockchain.
But I’ve always had a question:
Once assets are on-chain, what new value can they create beyond trading and holding?
What BNY did this time is quite interesting.
First, it tokenized U.S. Treasuries and settled them quickly, then used them as collateral for short-term financing.
In effect, it connected several steps: asset settlement, collateralization, and financing.
However, this transaction took place on BNY’s own private digital ledger. It wasn’t on public-chain DeFi, and it shouldn’t be taken to mean that tokens like AAVE or UNI have already benefited.
And for now, it’s just a single transaction. We still need to see whether it can develop into an ongoing business at scale.
Still, I think this direction is worth exploring further.
The real value of RWA may not just be putting assets on-chain, but enabling them to participate more efficiently in real-world financial activities.
If a sustained demand for financing emerges in the future, that could create a much larger market.
#RWA #defi #Crypto
I’ve been following the development of RWA lately.
Yesterday, I saw a report that BNY Mellon and Citadel Securities had completed a collateralized financing transaction involving tokenized U.S. Treasuries.
I think this is worth paying attention to.
Many RWA projects in the past have mainly focused on bringing traditional assets like government bonds and stocks onto the blockchain.
But I’ve always had a question:
Once assets are on-chain, what new value can they create beyond trading and holding?
What BNY did this time is quite interesting.
First, it tokenized U.S. Treasuries and settled them quickly, then used them as collateral for short-term financing.
In effect, it connected several steps: asset settlement, collateralization, and financing.
However, this transaction took place on BNY’s own private digital ledger. It wasn’t on public-chain DeFi, and it shouldn’t be taken to mean that tokens like AAVE or UNI have already benefited.
And for now, it’s just a single transaction. We still need to see whether it can develop into an ongoing business at scale.
Still, I think this direction is worth exploring further.
The real value of RWA may not just be putting assets on-chain, but enabling them to participate more efficiently in real-world financial activities.
If a sustained demand for financing emerges in the future, that could create a much larger market.
#RWA #defi #Crypto