• Finoa is a German crypto custodian licensed by BaFin. It has integrated Centrifuge‚Äôs Anemoy T-Bill tokenized fund into its custodial system.
  • Anemoy was set up in the British Virgin Islands, and it is regulated there. It is geared towards large DeFi investors and DAO treasuries as well as stablecoin protocol.
  • Finoa’s institutional crypto clients, which number over 300, often sit on stablecoins in idle storage that could earn interest.

Finoa is a German regulated cryptocurrency custodian that will offer its clients tokenized real-world assets through Centrifuge. Centrifuge was one of the very first companies to introduce non-cryptoassets to blockchains.

The token will be available to Finoa’s 300+ institutional customers using the a href=”https://www.coindesk.com/business/2023/09/12/bafin-licensed-crypto-custodian-finoa-will-offer-regulated-defi/”>u>FinoaConnect/u>/a> wallet system, according to Wednesday’s announcement. The tokens will be made available to Finoa, a Berlin-based company with over 300 institutional clients using FinoaConnect wallet systems.

In the world of traditional finance (TradFi), there has been a rush for to tokenize financial assets, and present them in a streamlined form on blockchains. In a report released in October, digital asset management company 21.co predicted that the market would grow to $10 trillion at the end of this decade.

According to Centrifuge cofounder Martin Quensel, the Anemoy Fund Share Token is targeted at large Decentralized Finance (DeFi), decentralized autonomous organizations (DAO) Treasury, Stablecoin Protocols, and similar entities. This makes it different from the multitude of TradFi tokenization attempts.

In an interview, Quensel stated that “I would argue that traditional finance’s future message that trillions of dollar will be tokenized are completely disconnected from the firms that innovate with RWAs.” DeFi doesn’t understand how TradeFi views a token. They see it as a database. A token isn’t a database record. It’s code that runs on its own, which can be executed, transferred, and has its own logic.

Henrik Gebbing is a cofounder of Finoa licensed by BaFin. He pointed out that institutional crypto clients often sit on large amounts of fiat money and stablecoins, when they could earn a return.

Gebbing stated in an interview that “we work with crypto foundations, large crypto investors, and many of them sit idle stablecoins without interest being paid.” The integration of Anemoy and FinoaConnect provides a seamless experience for customers to deploy their stablecoins into the tokenized T Bill fund.

Read more about the Trillion Dollar Crypto Opportunity – Real World Asset Tokenization

Sheldon Reback is the editor.