January 29, 2024

Institutional Interest in Tokenised RWA: An Interview with OpenEden’s Co-Founder, Eugene Ng

Dive into the future of tokenized real-world assets (RWAs) with OpenEden's Co-Founder, Eugene Ng.
Institutional Interest in Tokenised RWA: An Interview with OpenEden’s Co-Founder, Eugene Ng

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.

A: 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?

A: 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?

A: 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 Rakkar

Rakkar stands as Asia's leading qualified digital asset custodian, offering unparalleled asset security to financial institutions. Fortified by our strategic backing from SCB 10X, the investment arm of the Siam Commercial Bank, Rakkar Digital helms the industry’s leading bank-calibre security measures and compliance frameworks. Founded in 2022 and belting esteemed security excellence certifications such as ISO 27001 and SOC 2 Type 1 and Type 2, Rakkar Digital remains unwavering in its mission to offer the most secure, institutional-grade custodian services across Asia.

Disclaimer: Digital assets involve risks; investors should complete independent due diligence and research to carefully make investments according to their own risk profile.
May 27, 2024
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