Crypto news

The real-world asset (RWA) tokenization sector continues to demonstrate explosive growth, and recent developments only confirm this. Grvt, a hybrid CeDeFi platform combining elements of centralized and decentralized finance, has announced a strategic partnership with RWA product issuer Ondo Finance. Under the agreement, the exchange intends to grow its position in the tokenized USDY instrument to $100 million over the next twelve months.

Partnership mechanics and yield

A key element of the deal is the integration of an annual percentage yield (APY) of 3.5% into the base rate of the Grvt Earn product. This is not an isolated rate, but part of a consolidated reward model that already includes yield from integrations with protocols like Aave. In essence, the platform incentivizes users to provide liquidity: after making a deposit, the client automatically begins earning passive income, making the product highly attractive to institutional and retail investors seeking stable returns amid market volatility.

For context: according to my data, Ondo Finance's total assets under management (AUM) stand at approximately $2.59 billion. This pool is distributed across two flagship products: USDY, backed by short-term U.S. Treasury bonds and bank deposits, with an AUM of $2.1 billion (deployed across 8 networks), and OUSG, available only to qualified U.S. investors, with $500 million. Grvt's planned $100 million position is a significant commitment, accounting for about 3.8% of USDY's current AUM. This is not merely a speculative purchase, but a strategic investment in an infrastructure asset.

Trend: from investments to infrastructure

This partnership is a striking marker of a broader transformation. Tokenized Treasury bonds are no longer just an investment product for the select few. They are evolving into a foundational infrastructure layer for DeFi platforms, providing yield and liquidity. For Ondo, this is also an elegant solution to the distribution problem—the main bottleneck in scaling USDY. The integration with Grvt Earn allows for expanded reach without costly direct retail market entry, leveraging the exchange's existing user base.

It's worth recalling that Grvt operates on the ZKsync L2 solution. In September 2025, the platform raised $19 million in a Series A round, and on July 30, 2026, the GRVT token TGE took place. These steps demonstrate the seriousness of the project's intentions in the fight for CeDeFi market share.

Coinbase: expansion into the Middle East

In parallel, another industry giant, Coinbase, is strengthening its position in the RWA segment outside the U.S. The exchange's management has announced the opening of an international tokenization hub in Abu Dhabi. The company has received a financial services permit from the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM). The license will allow Coinbase to offer digital securities backed by underlying equities, opening new horizons for institutional clients.

This move is a logical response to the tokenization boom in the traditional financial sector. Banks and asset managers worldwide are actively moving funds, bonds, and equities onto blockchain rails. The technology promises to simplify round-the-clock transfer of securities, ensure instant settlement of trades, and, most importantly, enable their use as collateral in on-chain markets. The new hub will operate in parallel with Coinbase's derivatives business in Dubai, forming two anchor bases in the UAE for global expansion.

My take: these developments are not just corporate news, but a signal of market consolidation. Major players are moving from pilot projects to large-scale integrations, and 2026 will be the year RWA becomes firmly embedded in the core of the crypto economy. However, it's worth remembering the risks: the recent conflict at Ondo Finance over control of the project following the founder's death serves as a reminder of the fragility of even the most successful structures.