This Week in Digital Securities – DASP Licensing, Realio Network, T-REX 4.0

Already coming off of a busy week which saw the launch of STA's ‘Success Network', the digital securities sector has shown no signs of slowing down in the past few days.  The following are multiple examples of this, beginning with news fresh from Bitcoin country – El Salvador.

BitFinex Securities El Salvador – DASP

Dating back to late 2022, it was expected that El Salvador would soon issue BitFinex the first licence to operate as a Digital Asset Service Provider (DASP) under its Digital Assets Issuance law.  Now, as mid-2023 approaches, it would appear as though this has finally occurred, with ‘BitFinex Securities El Salvador' recently announcing that it has finally cleared this hurdle.

In doing so, the door is now open for BitFinex to begin offering a bevy of services surrounding tokenized assets and securities.  Paolo Ardoino, CTO of BitFinex, elaborated on what this licensing means moving forward.

“It means that a whole range of entities, from small companies to governments, can raise capital in a regulated environment, and tap into a class of investors that are extremely comfortable with crypto assets and tokenized securities, which represents a market of over $1 trillion with a peak of $3 trillion.”

Ardoino goes on to highlight that in addition to facilitating the issuance of assets like digital securities, it will also support their secondary trading – a capability particular noteworthy as El Salvador gears up to issue its own ‘Volcano Bonds' atop the Liquid Network.

Looking forward, BitFinex indicates that the coming months will bring multiple announcements of issuances set to occur through its newly licensed platform.

Realio Network – A Purpose Built Offering

Tokenization of real world assets (RWAs) is a hot-topic that major investment firms and research outlets are now full-heartedly backing.  Whether it be ARK Invest, Boston Consulting Group, or Citi, there is a clear consensus that asset tokenization will soon be a sector valued in the trillions, transforming both the way we invest and more interestingly what we invest in.  To this end, Realio Network has just announced the launch of its own “…fully open-source, permissionless, and purpose-built,” blockchain for digital securities.

Source: Twitter @realio_network

Realio notes that this offering has been in production for multiple years now, and thoroughly ‘battle-tested' buy scores of validators.  It states that the network boasts a Proof-of-Stake (PoS) consensus mechanism that supports its own utility and security tokens, all while remaining Ethereum Virtual Machine (EVM) compatible.

T-REX 4.0 Scores a 10/10

Finally, we briefly discussed earlier in the week a tokenization effort taking place in Bali, Indonesia.  Made possible through a joint effort by Tokeny and CoFund, this RWA tokenization will see investment opportunities in a Hotel worth more than $10M opened up to investors for as little as $1,000.  This wasn't the only instance of Tokeny making waves this week though, as the company has now announced that the latest iteration of its ‘T-REX' protocol – a specialized offering for tokenizing RWAs – has received top marks in a security audit completed by Hacken.

The audit, which stress tested the smart-contract coding of the network for security and compliance measures, is only the latest positive development for T-REX.  Since its inception, Tokeny notes that this speciality network is already responsible for the tokenization of, “…more than $28B of assets around the world,”.

With competing networks like the one on offer by Realio, the successful completion of such audits may prove to be the deciding factor for potential issuers when deciding which offering is best-suited for their needs.

For those interested in viewing the audit, and what such a service on offer by Hacken looks like, the report in its entirety can be viewed HERE.