Not sure when RWA seemed to have reached parity with TradFi, but it feels like mentioning RWA only brings up tokenized US Treasuries, US stocks, and ETFs.
In reality, it's much broader than that; RWA encompasses the use of crypto to trade real assets across regions, including real estate, art, intellectual property, and more.
Since I hold a position in Ethena, I'm always keeping an eye on its developments.
Recently, Ethena officially announced a new white-label partnership ⬇️
VanEck and ALLIANCE Investments' "US Real Estate RWA" company Manifest has officially chosen Ethena to support its real estate collateralized token, USH.
What does this mean?
Manifest is tokenizing US residential property rights (HEIs) into USH, allowing global liquidity to participate in this $35 trillion market just like buying stablecoins.
- During the launch phase, 100% liquidity reserves are provided by USDe, and sUSH holders can immediately start earning rewards without waiting for the real estate portfolio to be fully established.
- Later, it will gradually adjust to 80% HEIs + 20% USDe, preserving the long-term appreciation of real estate while maintaining on-chain capital efficiency and composability.
- It addresses the common RWA issue of quick cash flow but slow asset realization; initial yields come from USDe with real estate gains to follow.
Additionally, Ethena's tokenized dollars have become the fastest-growing RWA asset on Solana, with its market cap recently surpassing $560 million.
$ENA
In reality, it's much broader than that; RWA encompasses the use of crypto to trade real assets across regions, including real estate, art, intellectual property, and more.
Since I hold a position in Ethena, I'm always keeping an eye on its developments.
Recently, Ethena officially announced a new white-label partnership ⬇️
VanEck and ALLIANCE Investments' "US Real Estate RWA" company Manifest has officially chosen Ethena to support its real estate collateralized token, USH.
What does this mean?
Manifest is tokenizing US residential property rights (HEIs) into USH, allowing global liquidity to participate in this $35 trillion market just like buying stablecoins.
- During the launch phase, 100% liquidity reserves are provided by USDe, and sUSH holders can immediately start earning rewards without waiting for the real estate portfolio to be fully established.
- Later, it will gradually adjust to 80% HEIs + 20% USDe, preserving the long-term appreciation of real estate while maintaining on-chain capital efficiency and composability.
- It addresses the common RWA issue of quick cash flow but slow asset realization; initial yields come from USDe with real estate gains to follow.
Additionally, Ethena's tokenized dollars have become the fastest-growing RWA asset on Solana, with its market cap recently surpassing $560 million.
$ENA