As the digital realm continues to evolve, the need for robust solutions that cater to improved accessibility to tokenized real-world assets (RWAs) for institutional investors becomes paramount. A paper by the Federal Reserve underscore the transformative benefits of tokenizing RWAs, spotlighting the democratization of access to markets. The burgeoning interest in the tokenization of real-world assets (RWAs) is a testament to the shifting financial zeitgeist.
In the intricate tapestry of the digital asset custody landscape, Rakkar Digital, as a bank-owned qualified digital asset custodian has consistently championed the principles of asset security. The strategic alliance between OpenEden and Rakkar Digital creates great synergy for delivering accessibility and custody of tokenised RWAs in a security-first environment, following accelerated global demand for qualified digital asset custodians and Tokenised RWAs.
In this interview with OpenEden’s Co-Founder, Eugene Ng, we dive into the intricacies.
Q: Please tell us a little more about yourself and OpenEden.
Eugene: Ex investment banker of more than a decade who fell into the rabbit hole in 2017 and has since been building for the future of finance tomorrow. OpenEden has built the first tokenized TBILL vault with the most legally robust and battle tested structure. Users can now access TBILL tokens that represents a tokenized money market fund 24/7 on-chain, preserving their DeFi user experience without any compromise in the legal structure.
Q: What do you make of where the space is today?
Eugene: There are multiple firms trying to bring RWAs on chain through a variety of go-to-market and legal structures. While most are trying to bring tokenized RWAs, the devil is in the details around how the legal structure is being set-up. There is also additional legitimacy in recent times when large institutions such as central banks around the world issuing their bonds on chain. The OpenEden team is confident in bringing best-in-class on-chain RWA assets because it has extensive commercial B2B partnerships with regulated institutions and best-in-class service providers such as Siam Commercial Bank-backed Rakkar Digital Ernst and Young, KMPG, London Stock Exchange Group (LSEG) and StoneX alongside its sub-custodian BNP Paribas.
Q: What do you foresee are the challenges and demand triggers for institutional adoption of Tokenised RWAs within the next 3 years?
Eugene: Infrastructure needs to grow alongside with the RWAs sector. Without sufficient infrastructure in both legal and technology, RWAs on chain will be slow to mature. I expect more clarity in legal frameworks globally around tokenized RWAs that will drive mainstream adoption and ownership of these assets. Additionally, infrastructure around zero-knowledge will aid in the KYC on-chain process and verification. This will not only aid in efficient on-chain onboarding and usability, it will help reduce any barriers to entry with respect to privacy.
About OpenEden
OpenEden Labs Pte. Ltd. is a blockchain technology provider building the bridge to a new financial system. Our mission is to bring real-world assets on-chain to unlock trillions of dollars in value. We believe that internet-native money and decentralization will open access to real-world assets for everyone on a global scale, creating a more inclusive, efficient and free-flowing economy.
For more information, please visit www.openeden.com.
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