Tokenized Asset Coalition Welcomes New Members and Insights
Tokenized Asset Coalition Welcomes New Members
Recently, the Tokenized Asset Coalition (TAC) has shared exciting updates regarding its latest cohort and the comprehensive 2024 State of Tokenization Report. This announcement marks a significant moment for the coalition as it adds 21 new members selected from over 175 applicants.
Overview of the Coalition
The TAC champions the advancement of public blockchains and institutional DeFi, focusing on asset tokenization to revolutionize how capital is created, invested, and managed on-chain. Established in the autumn of 2023, the coalition comprises over 40 prominent leaders in the tokenization sphere, including industry giants such as Aave, Circle, and Coinbase.
2024 State of Tokenization Report Highlights
The newly released report examines regulatory influences on adoption, the escalating involvement of institutional investors bringing assets onto the blockchain, and the latest innovations in the sector. Key highlights of the report showcase substantial projections from renowned institutions, like a substantial forecast suggesting the tokenized assets market could catapult to $2 trillion to $30 trillion over the next decade.
Insightful Data and Findings
According to the report, tokenized assets (often referred to as RWAs) presently constitute approximately $176 billion, with nearly $15 billion of this amount excluding stablecoins. The report further indicates that over 150 tokenized asset issuers operate across more than 20 public blockchains, contributing to a developing ecosystem of asset tokenization.
Institutional Adoption and Innovations
A recent survey conducted by Coinbase among Fortune 500 executives divulges that over 56% of these companies are currently working on projects related to blockchain technology. While much attention has been directed at tokenized Treasuries, the report identifies private credit as the predominant category for total value locked (TVL) in tokenized assets, with active loans nearing $9 billion. Tokenized metals are also gaining traction, recently surpassing a $960 million market cap and nearing the $1 billion mark.
New Members and Their Contributions
The recent membership expansion represents a diversity of industries including venture capital, financial services, and asset management. New members like a16z, Aptos Labs, and Galaxy Digital bring a wealth of knowledge and expertise that enhances the coalition’s collective capacity for innovation. These organizations will become part of TAC working groups, engage in various events, and contribute valuable content, all of which drive the adoption of tokenized assets.
Community Engagement and Invitation
The TAC encourages organizations aligned with its mission to apply for membership, helping to transform the current financial landscape. With combined efforts, the coalition envisions fostering a new degree of efficiency, transparency, and accessibility in global finance.
About the Tokenized Asset Coalition
The Tokenized Asset Coalition aims to integrate traditional and crypto financial systems, driven by the belief that numerous assets will transition to an on-chain format. By addressing issues such as inefficiency and fragmentation in current financial infrastructures, the coalition aspires to lead the upcoming wave of digital transformation. Founding members like Centrifuge, Circle, and Provenance Blockchain Foundation are dedicated to educating stakeholders on the benefits of on-chain technologies and advocating best practices to build a robust on-chain infrastructure.
Frequently Asked Questions
What is the Tokenized Asset Coalition?
The Tokenized Asset Coalition is an organization focused on promoting asset tokenization and the adoption of public blockchains and institutional DeFi.
Who are the new members of the TAC?
Recent additions to the coalition include notable firms like a16z, Galaxy Digital, and Aptos Labs, enhancing the expertise within the coalition.
What does the 2024 State of Tokenization Report entail?
The report provides insights on regulation, adoption, and innovations in the tokenization industry, featuring projections and statistical data.
Why is asset tokenization significant?
Asset tokenization can reshape capital formation and investment by increasing transparency, efficiency, and accessibility in financial transactions.
How can organizations join the Tokenized Asset Coalition?
Interested organizations can apply to become part of the coalition, engaging in collaborative efforts to drive the transformation of the financial landscape.
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