Protocols for real-world assets (RWA) Splyce and Chintai have introduced a new offering on Solana aimed at providing retail users access to institutional-level tokenized securities — a step that could enhance the attractiveness of RWA tokenization on one of the largest blockchains globally.
This product utilizes strategy tokens, or S-Tokens, granting retail users exposure to yields generated by Chintai. Although users don’t directly hold Chintai’s tokenized securities, S-Tokens function as a “mirror” through a loan structure secured by the underlying assets.
S-Tokens seek to extend RWA yields to retail investors, moving beyond the traditional focus on institutional players. Currently, most institutional RWA offerings operate as “walled gardens” with stringent capital requirements and compliance barriers, limiting retail engagement, the companies stated to Cointelegraph.
The S-Token framework aims to close this divide, providing retail users with access to institutional-quality yields while allowing issuers to maintain compliance.
Through Splyce, users can interact with these assets directly via their existing Web3 wallets, ensuring the permissionless experience typically associated with DeFi.
“S-Tokens can be offered anywhere, without jurisdictional restrictions — they’re as permissionless as USDC or USDT,” remarked Ross Blyth, Splyce’s chief marketing officer, in a conversation with Cointelegraph. “However, all deposits remain subject to standard KYC/AML monitoring to adhere to Anti-Money Laundering regulations.”
The inaugural version of S-Tokens will feature the Kin Fund, a tokenized real estate fund launched by Kin Capital on the Chintai platform.
“Distribution and liquidity have consistently posed the largest challenges for RWAs,” stated Chintai managing director Josh Gordon in discussion with Cointelegraph. “Soon, institutional-grade assets will be tradable on Solana’s decentralized exchanges with the same simplicity as current tokens.”
Related: VC Roundup: VCs drive energy tokenization, AI datachains, programmable credit
A potential boost to Solana’s RWA momentum
Solana, celebrated for its high throughput, affordability, and robust developer community, is making significant strides in the real-world asset domain.
According to industry statistics, tokenized assets on Solana are currently valued at over $656 million. Only four other networks — Ethereum, ZKsync Era, Polygon, and Aptos — support greater amounts of tokenized assets.
Since the beginning of the year, the value of tokenized assets on Solana has surged by over 260%. The network’s primary non-stablecoin tokenized products include the Ondo US Dollar Yield and the Ondo Short-Term US Government Bond Fund, which offer tokenized access to yield-generating products like short-term US Treasurys.
Additionally, BlackRock introduced its USD Institutional Digital Liquidity Fund (BUIDL) on Solana earlier this year. BUIDL has rapidly become the leading tokenized US Treasury product across blockchains, further highlighting Solana’s increasing significance in institutional RWA adoption.
Although the major RWA products on Solana mainly target qualified institutional buyers or accredited investors, constraining retail access, alternatives are starting to emerge. Ondo Finance has also declared intentions to broaden retail access on Solana via its collaboration with Alchemy Pay.
In parallel, Ondo’s YieldCoin (USDY) is accessible to retail users on Stellar, according to MEXC.
These advancements coincide with Solana’s emergence as a platform for tokenized equities, with Forward Industries — a company listed on Nasdaq and a holder of Solana treasury — planning to tokenize its stock on the blockchain in partnership with Superstate, a regulated issuance platform.
Related: $400T TradFi market presents a vast opportunity for tokenized RWAs: Animoca
