RWA market is gaining momentum: Grvt targets $100 million in Ondo tokens, Coinbase establishes itself in the UAE
The real-world asset (RWA) tokenization sector continues to demonstrate explosive growth, attracting increasingly larger players. This week, two landmark events confirm that institutional interest in on-chain finance has moved from the experimental stage to a phase of active scaling.
Grvt and Ondo: A Bet on Institutional Yield
Hybrid CeDeFi platform Grvt has announced a strategic partnership with RWA product issuer Ondo Finance. Over the next twelve months, the exchange intends to grow its position in the tokenized USDY instrument to $100 million. This is a serious commitment, given that Ondo's total assets under management (AUM) are currently estimated at approximately $2.59 billion.
A key element of the deal is the integration of USDY yield (APY of about 3.5%) into the existing Grvt Earn product. Users depositing funds on the platform will earn passive income not only through standard DeFi mechanics (including integration with Aave), but also through backing by short-term U.S. Treasury bills. For Grvt, this is a way to offer clients institutional-grade reliability, and for Ondo, it solves the critical problem of distributing its token.
Notably, Grvt's planned position will amount to about 3.8% of the current USDY AUM. This is not just a speculative purchase, but the formation of an infrastructure layer where tokenized treasury obligations become the underlying asset for yield-generating products.
Coinbase: A New Hub in Abu Dhabi
In parallel, Coinbase has announced the opening of an international tokenization hub in Abu Dhabi. Having obtained a license from the Financial Services Regulatory Authority of the International Financial Centre, the American giant plans to offer digital securities backed by real shares. This is a logical step for a company seeking to diversify its business beyond the U.S., where the regulatory environment remains uncertain.
The new division will work in conjunction with Coinbase's existing derivatives business in Dubai, thereby creating two anchor points in the UAE. This allows the company to serve international clients using blockchain rails for round-the-clock settlement and enhanced liquidity.
My take: We are witnessing the convergence of two trends. On one hand, DeFi platforms are seeking stable, real-asset-backed sources of yield to compete with traditional banks. On the other, major exchanges realize that the future lies in hybrid instruments. Tokenized securities are a bridge that will either lead to mass crypto adoption or become its main competitor. Watching this rivalry unfold will be extremely interesting.