According to rwa.xyz data, the market for U.S. Treasury securities has increased from $100 million to $850 million in the last year, serving as a gateway for tokenization efforts.
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As demand for tokenized U.S. treasuries continues to rise, Enigma Securities, the digital asset brokerage division of Makor Securities, based in the United Kingdom, has integrated on-chain yield provider OpenTrade and begun offering the product to investors in Europe, Asia, and Latin America.
In a press release on Wednesday, the companies stated that Enigma’s institutional clients can park their cash and earn a yield by using OpenTrade’s Ethereum network U.S. Treasury bill liquidity pool, all without requiring further onboarding.
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“As interest rates have steadily risen, we have seen a huge amount of demand from our institutional clients for a product that would allow them to take advantage of these high risk-adjusted returns,” Philippe Kieffer, head of business development at Enigma, said in a statement.
“Altogether, we anticipate driving hundreds of millions of dollars worth of volumes through our new solution based on this huge amount of client demand,” he added.
The offering coincides with one of the biggest trends in cryptocurrency right now: the tokenization of real-world assets (RWA), which puts conventional financial instruments like the government on blockchain. Big banks are investigating how they can use blockchain technology.
According to rwa.xyz data, U.S. Treasury securities are a gateway for tokenization efforts. Over the past year, the market has grown from $100 million to $850 million, with asset management behemoth Franklin Templeton being the biggest participant.
With the help of USDC, the second-largest stablecoin, and Circle’s on-chain credit facilitation service Perimeter Protocol, OpenTrade unveiled its tokenized Treasury liquidity pool in September.
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