Crypto Custodian Finoa Offers Centrifuge’s Tokenized T-Bill Fund

Tokenized assets pioneer Centrifuge is linking its Anemoy fund to Finoa’s 300-plus crypto institutions.

AccessTimeIconFeb 28, 2024 at 8:00 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now
  • Finoa, a crypto custodian with a license from German regulator BaFin, has integrated Centrifuge's Anemoy tokenized T-Bill fund into its custodial wallet system.
  • Anemoy is set up and regulated in the British Virgin Islands and is focused on large DeFi investors, DAO treasuries and stablecoin protocols.
  • Finoa's 300-plus institutional crypto customers routinely sit on idle hauls of stablecoins that could be earning interest.
  • Philippines Taps Blockchain
    06:22
    Philippines Taps Blockchain
  • BlackRock CEO Predicts Tokenization Is the Future of Markets
    04:56
    BlackRock CEO Predicts Tokenization Is the Future of Markets
  • Tokenization on Public Blockchains Democratizes Access: Securitize CEO
    00:48
    Tokenization on Public Blockchains Democratizes Access: Securitize CEO
  • Bitcoin Bounces Back Above $20K
    07:08
    Bitcoin Bounces Back Above $20K
  • Finoa, a regulated German cryptocurrency custodian, is set to offer clients access to tokenized, real-world assets (RWA) through Centrifuge, one of the first companies to bring non-crypto assets to blockchains.

    The first RWA token is derived from one of Centrifuge's Anemoy funds, an actively managed, on-chain pool of short-term U.S. Treasury bills set up and regulated in the British Virgin Islands. The token will be available to Berlin-based Finoa's 300-plus institutional customers using the FinoaConnect wallet system, the companies said Wednesday.

    There has been a rush to tokenize a universe of financial assets and present streamlined versions of them on blockchains, particularly from the traditional finance (TradFi) world of banks and institutions. The market could grow to $10 trillion by the end of the decade, digital asset management firm 21.co said in a report published in October.

    The Anemoy fund share token is aimed at large decentralized finance (DeFi) investors, decentralized autonomous organization (DAO) treasuries, stablecoin protocols and the like – a point of distinction from the plethora of TradFi tokenization efforts, according to Centrifuge co-founder Martin Quensel.

    "I would argue traditional finance's message for the future that trillions of dollars will be tokenized is completely disconnected from firms that are innovating with RWAs," Quensel said in an interview. "TradFi's understanding of a token as a database record doesn't make any sense to DeFi. A token is not a database record; it's code running on its own that's executable, transferable, has its own logic, rights and possibilities."

    Henrik Gebbing, a co-founder of BaFin-licensed Finoa, pointed out that his institutional crypto customers routinely sit on quantities of fiat cash and stablecoins when those assets could be earning yield.

    "We work with crypto foundations and large crypto investors and a lot of them sit on idle stablecoins with no interest being paid," Gebbing said in an interview. "The integration of Anemoy with FinoaConnect will provide a seamless user experience for those customers to deploy stablecoins in the tokenized T-Bill fund."

    Edited by Sheldon Reback.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Ian Allison

    Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.