👏 Coinbase’s First Security Token: Backed Finance

💰 New Tokenized Offering: RedSwan CRE

Presented By:

Goooood Morning, Rainmakers! ☀️

As always, we have two captivating topics for you to dive into:

1️⃣ 👏 Coinbase’s First Security Token: Backed Finance

2️⃣ 💰 New Tokenized Offering: RedSwan CRE

Without further ado, it's time to…

Get Liquid 💧

 A MESSAGE FROM TokenizeThis

The TokenizeThis Conference is THIS week and the lobby has officially opened! 

TokenizeThis is happening Wednesday-Friday with 40+ speakers to learn from including keynotes from Onyx by J.P. Morgan, WisdomTree, Franklin Templeton, and Oasis Pro.

Want to prep for it? Once you register you’ll be directed to Zoom Events, the platform we’ll be using. Make sure to log in to the lobby before the conference to look around and make your profiles like these 👇

This will enable you to:

  • Bookmark your favorite sessions & make your itinerary

  • Populate your profile for networking

  • Check out the sponsors’ booths

  • Familiarize yourself with the platform

👏 Coinbase’s First Security Token: Backed Finance

This week we have exciting news coming from Coinbase - their recently-launched Base blockchain just had its first issued security token!

The issuer is Backed Finance with their bIB01 token, a tokenized short-term US treasury bond ETF. Backed is based out of Switzerland and issues on-chain tokens that track the value of real-world assets, such as stocks or ETFs. Tokens are freely transferable across wallets, are fully collateralized by the underlying asset, and are issued in compliance with the Swiss DLT act.

So why tokenize treasuries?

People are becoming increasingly fond of holding stablecoins. These are tokens representing, for example, a currency but on-chain such as USDC (pegged 1:1 with USD). Institutions may also want to hold stablecoins to transact on the blockchain without having to offramp and onramp as frequently. That being said, these stablecoins may not be generating yield… US Treasuries do!

Holding on-chain versions of a treasury allows one to generate yield while their money sits there until they’re ready to use it. This also allows a real-world asset to be interoperable with web3 applications such as collateralizing it for a loan. Want to redeem your tokens for the underlying asset? Not a problem! Backed can oblige, after all these are being custodied at a Swiss bank so they’re not going anywhere.

Base, Coinbase’s L2 network, offers a low-cost, developer-friendly way to build on-chain… Backed’s goal is to create tokenized RWAs that are composable and interoperable with developers' applications and is excited to be building on a chain that is putting developers first.

Backed Finance

Base came out just a few months ago and it’s great to see they now have real-world assets on-chain for their users to have access to!

Want to learn more about Base? Their head of tokenization, Anthony Bassili, will be speaking on the “RWA Blockchain Adoption” panel on Day 1 of TokenizeThis!

Want to learn more about tokenized treasuries? TokenizeThis will also be having a panel called “The Rise of the Tokenized T-Bill” on Day 2 (October 12th)!

Congratulations to the Coinbase and Backed teams on working together to continue to bring value to investors, developers, and future issues alike 👏

💰 New Tokenized Offering: RedSwan CRE

You’ve probably heard us talking about them through What’s Drippin’, our Insider Interviews, or our social media channels and its none other than RedSwan CRE!

They have an exciting announcement…

That’s right, now YOU can own a piece of RedSwan CRE for just $500 🤩

Led by Ed Nwokedi, RedSwan has been around the block when it comes to real estate tokenization with… wait for it… over $5 BILLION dollars worth of assets already on-chain.

That’s a large amount, how do they know which assets to tokenize? Are they quality?

I’m glad you asked! The team at RedSwan brings over 65 years of experience across commercial real estate, technology, and finance. Ed Nwokedi has over 20 years of experience in commercial real estate, most recently, his 17 years at Cushman & Wakefield in Houston, Texas as head of the capital markets division.

Just taking a look at their website, they have some exciting opportunities such as an office building Disney @ Celebration or The Aviator hotel in, you guessed it, Miami 🌴

That’s not all though, they’re also tokenizing in Africa with properties that may even generate higher yield than US-based ones. Not sure which property to invest in? Not a problem, they have funds to help with diversification!

This is an impressive amount of experience and initiatives RedSwan has going on and you have an opportunity to invest directly into the company. They’re hosting a RegCF offering meaning anyone can participate, accredited or not! They’re working with the following partners to make this capital raise possible and compliant:

  • Transfer Agent: KoreConX

  • Broker Dealer: Mundial Financial Group

  • Escrow Agent: Royalton

Want to learn more about tokenized real estate and RedSwan? You’re in luck! Ed will be speaking at TokenizeThis on the “Transforming Real Estate through Tokenization Panel” on October 11th. Check out his session and visit RedSwan’s booth on the virtual expo floor!

Make sure to check out their investment page for more info and if you feel intrigued, place your investment! 👇

💦 What else is Drippin’

State of Security Tokens 2023 - Q2 Report

NEW: The Security Token Advisors State of Security Tokens 2023 - Q2 report is brought to you by Coinbase!

Our Head of Research and Institutional, Peter Gaffney, dives deep with updates from across the industry, from issuers to platforms to protocols.

This edition covers:

  • Key institutional tokenization initiatives

  • Digital tailwinds in Private Equity, Private Credit, and Commercial Real Estate

  • Secondary Trading Activity

  • M&A and Investments

  • 40+ Service Provider Updates

  • Public and Private Blockchain Developments

Take a read for analysis on common themes emerging for both primary and secondary markets!

This is not financial or investment advice.

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If interested, please reach out to [email protected] to find out a way we can work together :)

Everything in this newsletter is for informational and entertainment purposes only. Nothing in this report should be taken as financial advice or as an inducement to purchase or sell any security. Nothing in this newsletter should be used as legal advice. Always do your own research before making any decisions regarding financial transactions of securities.