Crypto news

The market for tokenization of real-world assets (RWA) continues to demonstrate structural growth, and recent events clearly confirm this. CeDeFi exchange Grvt has announced a strategic partnership with issuer Ondo Finance, setting an ambitious goal: to grow its position in the tokenized product USDY to $100 million over the next twelve months. This is not just a speculative bet, but a deliberate move toward institutional adoption of digital assets.

A key element of the deal is the integration of an annual percentage yield (APY) of 3.5% into the single base rate of the Grvt Earn product. Platform users making deposits will earn passive income not only through traditional liquidity but also thanks to this new component. In effect, Grvt rewards clients for providing liquidity, strengthening its appeal relative to competitors. It is worth noting that the platform is already integrated with Aave, which expands its yield base.

According to my data, the total assets under management (AUM) of Ondo Finance currently stands at approximately $2.59 billion. The distribution structure is as follows:

• USDY — $2.1 billion, deployed across eight networks;
• OUSG — $500 million, available only to qualified investors from the United States.

Grvt's planned position of $100 million is roughly 3.8% of USDY's current AUM. This is a significant share that underscores the seriousness of the exchange's intentions. USDY, as a reminder, is backed by short-term U.S. Treasury bonds and bank deposits, making it one of the most reliable instruments in the RWA segment.

Partnerships of this kind are a clear signal that tokenized Treasury bonds are ceasing to be just an investment product. They are becoming an infrastructure layer for the entire DeFi ecosystem. For Ondo, this also solves the distribution problem — the main bottleneck in scaling USDY. The integration with Grvt Earn is an elegant way to expand reach without directly entering the retail market, which would entail regulatory risks.

Grvt, operating on the ZKsync L2 network, raised $19 million in a Series A round in September 2025, and conducted the TGE of its GRVT token on July 30, 2026. These financial steps demonstrate that the project is in an active phase of development and ready for large-scale actions.

In parallel, Coinbase continues to expand the geography of its influence. The exchange's management has announced the opening of an international tokenization hub in Abu Dhabi, having obtained the corresponding license from the Financial Services Regulatory Authority of the International Financial Center. The hub is planned to be used to offer digital securities backed by underlying equities. This is a logical step amid growing interest from traditional financial institutions in blockchain rails for transferring funds, bonds, and private credit.

The new division in Abu Dhabi will operate in parallel with Coinbase's derivatives business in Dubai. Thus, the company is establishing two key footholds in the UAE for expansion beyond the American market. This is a strategically sound decision given the regulatory uncertainty in the United States.

My comment: We are witnessing the consolidation of the RWA segment: major players are moving from pilot projects to large-scale integrations. The actions of Grvt and Coinbase show that tokenization is not hype but a fundamental trend that will only intensify. The question is who will manage to secure key positions before the market becomes truly competitive.