According to a news statement issued on September 7, Coinbase and many cryptocurrency industry members have joined forces to form a new advocacy group.
Tokenized Asset Coalition by Coinbase & many more
The Tokenized Asset Coalition is a new group that aspires to have real-world assets represented and circulating on blockchain networks.
To that aim, the group will campaign for public blockchain adoption, asset tokenization, and institutional DeFi deployment. It will focus on education, advocacy, and adoption.
The group stated that through tokenization, it hopes to bring the “next trillion dollars” of real-world assets onto the blockchain.
It also implies that the coalition will expand beyond its initial seven members by attracting more members.
Members of the cryptocurrency industry
The group now includes several prominent individuals of the crypto business. The coalition’s members include the main cryptocurrency exchange Coinbase and its semi-independent Layer 2 project Base.
Another member of the coalition is the stablecoin startup Circle, which issues the USDC token and is a regular collaborator of Coinbase.
The Tokenized Asset Coalition also includes the DeFi platform Aave, which has commented on its participation. Following DeFi’s great growth, Aave founder Stani Kulechov stated that additional efforts in education and integration are required. He also stated that his organisation “looks forward to working with the Coalition.”
Credix, Goldfinch, and Centrifuge are also members of the alliance, and each has remarked on the group’s objectives.
According to Credix, public blockchain rails will increase the efficiency, cost, and transparency of real-world asset transactions.
Goldfinch founder Mike Sall stated elsewhere that the initiative wants to “harness the transformative power of blockchain and drive its mass adoption.”
Meanwhile, Centrifuge emphasised the coalition’s collaborative aspect, noting that the job of getting the world’s assets on-chain “is larger than that of any single organisation.”
In some ways, RWA.xyz, a platform for real-world asset analytics, is spearheading the initiative by hosting the coalition website and accompanying documents.
To read our blog on “PayPal’s PYUSD stablecoin will be listed on Coinbase,” click here
