The RWA market is gaining momentum: Grvt invests $100 million in Ondo tokens, Coinbase establishes itself in the UAE
Institutional interest in the tokenization of real-world assets continues to intensify. This week, I noted two landmark events that confirm: the RWA sector is moving from pilot projects to large-scale strategic investments.
CeDeFi exchange Grvt has announced a partnership with tokenized asset issuer Ondo Finance. Over the next twelve months, the platform intends to grow its position in the USDY product to $100 million. This is a significant volume, given that Ondo's total assets under management are currently estimated at approximately $2.59 billion. Grvt's planned share would represent about 3.8% of the current USDY AUM.
The mechanics of the partnership are as follows: an annual percentage yield of 3.5% will be integrated into the base rate of Grvt Earn. Users providing liquidity on the platform will receive passive income, generated both through this integration and through other sources, including interaction with the Aave protocol.
It is important to understand that USDY is not just another stablecoin. The instrument is backed by short-term U.S. Treasury bonds and bank deposits. Currently, Ondo's AUM distribution looks like this: $2.1 billion is in USDY, deployed across eight networks, and $500 million is in OUSG, available only to qualified investors from the United States.
In my view, this partnership is telling. Tokenized Treasury bonds are ceasing to be merely an investment product for hedge funds. They are becoming an infrastructure layer for DeFi platforms, solving the distribution problem and expanding reach without direct access to the retail market.
In parallel, Coinbase is strengthening its position in the Middle East. The company has received approval from the Financial Services Regulatory Authority of the Abu Dhabi Global Market and is opening an international tokenization hub. The license will allow the exchange to offer digital securities backed by underlying equities. This is a logical continuation of its expansion: the new division will operate alongside Coinbase's derivatives business in Dubai, forming two anchor bases in the UAE.
The observed dynamics confirm a global trend: traditional financial institutions are actively moving funds, bonds, and equities onto blockchain rails. This simplifies the 24/7 transfer of securities, ensures instant settlement of trades, and opens the way for using such assets as collateral in on-chain markets.
My comment: Tokenization has ceased to be an experimental niche and is turning into a competitive field where both specialized issuers like Ondo and giants of Coinbase's caliber are vying for infrastructure. Grvt's $100 million investment is a signal that RWA instruments are becoming a liquidity anchor for CeDeFi platforms, and in the coming quarters, we will likely see new similar deals.