Athena Eyes Tokenized RWA Investment with BlackRock's BUIDL

IconCryptoNewsTerminal Staff23 Jul, 2024

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Athena Eyes Tokenized RWA Investment with BlackRock's BUIDL

Athena Plans to Invest in Tokenized Real-World Assets (RWAs) According to Coindesk, stablecoin issuance protocol Athena (ENA) intends to invest a portion of its reserves in tokenized real-world assets (RWAs). BlackRock's Ethereum-based tokenization fund, BUIDL, has proposed a $34 million allocation for this investment. ENA plans to allocate a portion of its $235 million in USDT stablecoin collateral and $45 million in excess reserve to the tokenized RWA sector. This move signals a growing trend of institutional investors exploring the potential of tokenized assets. Benefits of Tokenizing RWAs Tokenizing RWAs offers several benefits, including: Increased liquidity Reduced transaction costs Improved transparency Increased fractionalization By tokenizing RWAs, Athena and BUIDL aim to make these assets more accessible to a broader range of investors. This investment is expected to further drive the adoption of blockchain technology in the financial sector.

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