Tokenized Asset Platform Centrifuge said that the expansion of services on the Solana Blockchain is starting with the $ 400 million tokenized US Treasury Fund managed by Anemoy (Jtrsy).
The expansion builds on the Token Standard of Centrifuge – called “Derwa Tokens” – with which token holders can freely transfer tokenized instruments about decentralized finance (Defi) protocols.
In this case the dejtrsy-token can be exchanged, borrowed or used as collateral, sets Solana users to earn a yield from short-term treasuries Native in Solana Defi-platforms, first on decentralized Exchange Raydium, Lending Platform Kamino and Yield Aggregator Lulo.
The rollout underlines the growing momentum of Solana in the tokenized RWA room, a red-hot sector that is focused on traditional financial instruments such as bonds, funds and credit on blockchain rails. It is a huge opportunity: Boston Consulting Group and Ripple projected that the Tokenized Asset Market could reach $ 18.9 trillion by 2033.
This week, Solana Foundation collaborated with bank-oriented blockchain technology company R3 to bring Real-World assets to Solana, while Securitize-Tokkenized Fund is also introduced in Solana-based Defi-Protocols.
“Tokenizing assets is just the starting point,” says Bhaji Illuminati, CEO of Centrifuge. “What really matters is giving a real-world assets utilities onchain: making them usable about the Defi stack from the first day.”
Read more: Large TradeFi institutions to pursue tokenization -efforts on Solana
