Splyce and Chintai, two real-world asset (RWA) protocols, have introduced a new product on the Solana blockchain aimed at providing retail users with access to institutional-grade tokenized securities. This initiative could enhance the attractiveness of RWA tokenization on one of the leading blockchains globally.
The product is driven by strategy tokens, or S-Tokens, which allow retail users to benefit from yields produced by Chintai. Although users do not directly possess Chintai’s tokenized securities, S-Tokens function as a “mirror” through a loan mechanism supported by the underlying assets.
S-Tokens are created to extend RWA yield access beyond institutional investors. Currently, the majority of institutional RWA offerings operate as “walled gardens” with stringent capital requirements and compliance challenges, restricting retail involvement, as reported by the companies to Cointelegraph.
The S-Token framework seeks to fill this void, granting retail users access to institutional-quality yields while ensuring issuers remain compliant.
With Splyce, users can interact with these assets through their existing Web3 wallets, preserving the permissionless experience characteristic of DeFi.
“There are no jurisdictional limits on the availability of S-Tokens — they’re just as permissionless as USDC or USDT,” noted Ross Blyth, Splyce’s chief marketing officer, to Cointelegraph. “However, deposits must still undergo standard KYC/AML scrutiny to comply with Anti-Money Laundering regulations.”
The inaugural version of S-Tokens will feature the Kin Fund, a tokenized real estate fund initiated by Kin Capital on the Chintai network.
“Distribution and liquidity have historically been the largest obstacles for RWAs,” stated Chintai managing director Josh Gordon to Cointelegraph. “In the near future, institutional-quality assets will be tradable on Solana decentralized exchanges with the same ease as current tokens.”
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A potential boost to Solana’s RWA momentum
Solana, celebrated for its high throughput, low fees, and robust developer community, has been increasingly establishing itself in the real-world asset sector.
Industry statistics reveal that tokenized assets on Solana are presently valued at over $656 million. Only four other networks — Ethereum, ZKsync Era, Polygon, and Aptos — facilitate greater volumes of tokenized assets.
Since the beginning of the year, the worth of tokenized assets on Solana has surged by more than 260%. The network’s leading non-stablecoin tokenized offerings include the Ondo US Dollar Yield and the Ondo Short-Term US Government Bond Fund, which provide tokenized access to yield-generating products such as short-term US Treasurys.
Moreover, BlackRock introduced its USD Institutional Digital Liquidity Fund (BUIDL) on Solana earlier this year. While BUIDL has swiftly become the leading tokenized US Treasury product across various blockchains, its appearance on Solana underscores the network’s expanding significance in institutional RWA adoption.
Although the primary RWA offerings on Solana are still primarily targeted at qualified institutional buyers or accredited investors, limiting retail access, emerging alternatives are becoming available. Ondo Finance has also announced plan to broaden retail access on Solana through its collaboration with Alchemy Pay.
At the same time, Ondo’s YieldCoin (USDY) is accessible to retail users on Stellar, as noted by MEXC.
These advancements coincide with Solana’s emergence as a venue for tokenized equities, as Forward Industries — a Nasdaq-listed entity and Solana treasury holder — is set to tokenize its stock on the blockchain in conjunction with Superstate, a regulated issuance platform.
Related: $400T TradFi market offers a vast opportunity for tokenized RWAs: Animoca
