The major players in the crypto ecosystem, including Coinbase, Aave, and Circle, are teaming up to form the Tokenized Asset Coalition (TAC) to accelerate real world asset (RWA) tokenization.
The Tokenized Asset Coalition (TAC) is aiming to bring trillions of dollars of real world assets onto the blockchain. The initiative includes Coinbase, Aave, Circle, Base, Credix, Goldfinch, Centrifuge, and RWA.xyz as founding members.
According to the press-release, the group focuses on enhancing public blockchains, asset tokenization, and institutional applications of DeFi to boost on-chain capital inflow. The collaboration shares three primary objectives to educate, advocate, and spread adoption of real world asset tokenization.
Furthermore, the release states that the collaboration aims to address the insufficiency and lack of transparency in traditional finance that can be incurred with blockchain technology.
“We made strides distinguishing DeFi as a transparent, secure and efficient financial solution, but there is still work to be done both in terms of integration solutions and education,” said the founder of Aave, Stani Kulechov. “Aave looks forward to working with the Coalition.”
The newly formed coalition is currently formed with seven members, it invites and welcomes all relevant players from the ecosystem to expand and grow further.