tokenized securities

Noble has partnered with Hashnote to introduce tokenized securities to the Cosmos ecosystem

ChainCatcher news, according to The Block, the Cosmos ecosystem application chain Noble has partnered with asset management company Hashnote to introduce tokenized RWA products in the Cosmos ecosystem. The first product of the collaboration is USYC, which is a short-term yield fund product from Hashnote that includes short-term securities such as U.S. Treasury bonds. USYC will be issued as a token on the Noble blockchain, providing investors with investment opportunities in short-term securities, including U.S. Treasury bonds.It is reported that Noble is the native asset issuer of Circle's USDC stablecoin in the Cosmos ecosystem, while Hashnote is an asset management company supported by investors such as DRW Holdings and Cumberland, offering management strategies for cryptocurrencies and real-world assets. Noble aims to enter the rapidly developing real-world asset (RWA) market in the Cosmos ecosystem, which is still in its early stages, by launching USYC. According to Dune data, the value of tokenized securities has grown rapidly over the past year, with a market size estimated to exceed $500 million.The Cosmos ecosystem includes over 80 application-specific blockchains, such as Cosmos Hub, Osmosis, Injective, and Noble, with a total market capitalization exceeding $45 billion. These blockchains can interact with each other using the Inter-Blockchain Communication (IBC) protocol. USYC, as the first cross-chain real-world asset on Cosmos, is expected to be widely used in various DeFi applications within the Cosmos ecosystem, including as collateral.Noble's CEO and co-founder Jelena Djuric stated, "This initiative will showcase the power of the IBC protocol in enabling interoperability for real-world assets locally."

The Hong Kong Securities and Futures Commission issued a notice on "Intermediaries Engaging in Activities Related to Tokenized Securities."

ChainCatcher news, the Hong Kong Securities and Futures Commission today issued a notice regarding the activities of intermediaries engaged in tokenized securities. The notice mentioned that the Commission recognizes the potential benefits of tokenization for the financial market, particularly in enhancing efficiency, increasing transparency, reducing settlement times, and lowering traditional financial costs, but it also acknowledges the new risks associated with the use of this technology.The Commission supports intermediaries in actively tokenizing traditional securities and believes that more guidance should be provided regarding activities related to tokenized securities. The focus of the notice is to provide guidance for intermediaries to address and manage the new risks arising from the use of this new tokenization technology, so that the tokenized market can develop in a healthy, responsible, and sustainable manner.The notice emphasizes that intermediaries need to have sufficient manpower and expertise to conduct due diligence on tokenized securities and to be responsible for the overall operation of tokenization arrangements, even when third-party vendors/service providers are involved. It also highlights considerations for custody arrangements, disclosure requirements for client notices, and the complexity assessment of tokenized securities. In addition, intermediaries are required to comply with applicable laws and regulatory requirements, provide necessary information to the Commission, and implement appropriate controls in digital securities-related activities.
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