Tokenized Asset Platform Centrifuge said it is expanding services at Solana Blockchain, starting with the $ 400 million tokenized US Ministry of Finance, managed by Anemoy (JTRSY).
The expansion is based on centrifuge’s token standard – called “Derwa tokens” – which allows token holders to freely transfer and use tokenized instruments across decentralized funding (DEFI) protocols.
In this case, the doughtry-token can be exchanged, fastened or used as security in, allows SOLANA users to earn the yield from short-term treasuries naturally in Solana defiplatforms, first on decentralized exchange raydium, lending platform Kamino and Prenter Aggregator Lulo.
Rolling emphasizes Solana’s growing momentum in the tokenized RWA room, a red-hot sector aimed at bringing traditional financial instruments such as bonds, funds and credit on blockchain rails. That’s a huge option: Boston Consulting Group and Ripple expected the tokenized asset market to reach $ 18.9 trillion in 2033.
This week, the Solana Foundation collaborated with bank-focused blockchain-tech company R3 to bring assets in the real world to Solana, while Securitize-issued Tokenized Fund for Apollo Credit Assets is also introduced to Solana-based defiable protocols.
“Tokenization of assets is just the starting point,” said Bhaji Illuminati, CEO of Centrifuge. “What really matters is to give assets to assets in the real world onchain: Make them as usable across the defic stack from day one.”
Read more: Large Tradfi institutions to pursue tokenization efforts at Solana
