Crypto news

The real-world asset (RWA) tokenization sector continues to demonstrate explosive growth, and recent developments only confirm this. Grvt, a hybrid exchange combining elements of CeFi and DeFi, has announced a strategic 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, marking an important step in integrating institutional US Treasury bonds into the DeFi ecosystem.

A key element of this partnership is a built-in annual percentage yield (APY) of 3.5%, which will be integrated into the base rate for Grvt Earn users. This mechanism will allow platform clients to earn passive income by providing liquidity, with yields aggregated from other sources, including integration with the Aave protocol. In essence, Grvt is creating a hybrid instrument where traditional financial returns are combined with the flexibility of decentralized protocols.

At the time of analysis, according to data from the aggregator RWA.xyz, Ondo Finance's total assets under management (AUM) stand at approximately $2.59 billion. The bulk of this is in USDY — $2.1 billion distributed across eight networks, while the OUSG product, available only to qualified US investors, accumulates around $500 million. Grvt's planned $100 million position would represent roughly 3.8% of USDY's current AUM — a significant share capable of influencing the product's liquidity and dynamics.

This partnership is not just a one-off deal but a reflection of a deeper trend. Tokenized Treasury bonds are ceasing to be a niche investment product and are becoming core infrastructure for DeFi platforms. For Ondo, this solves the critical problem of distribution, which has long been a bottleneck in scaling USDY. The integration with Grvt Earn is an elegant way to expand reach without needing to enter the retail market directly.

Grvt, operating on the ZKsync L2 solution, is in a phase of active growth. Recall that 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 events lay a solid foundation for further expansion.

In parallel, Coinbase is making a bold move toward global RWA expansion. The company has announced the opening of an international tokenization hub in Abu Dhabi, having obtained a financial services license from the Financial Services Regulatory Authority of the Abu Dhabi Global Market. This decision will allow the exchange to offer digital securities backed by underlying equities outside US jurisdiction.

The new division will work in tandem with Coinbase's existing derivatives business in Dubai, thus creating two strategic footholds in the UAE. This is a clear signal that the largest players in the crypto industry see tokenization not just as a trend but as a long-term development vector capable of attracting trillions of dollars of traditional capital onto blockchain rails.

My view: The integration of institutional products into DeFi protocols is a natural stage in the market's evolution. However, close attention should be paid to risk concentration: the dependence of DeFi platforms on a single RWA issuer could create systemic vulnerability. Diversifying yield sources is a key factor for long-term resilience.