A few years ago, real-world asset (RWA) tokenization was still a technical experiment talked about more than implemented. Today, it's on the desks of asset managers, regulators, and fintech executives looking for compliant access to yield.
At a recent panel hosted by IXS and InvestaX, leaders from Matrixdock, OpenTrade, and Kasu Finance shared a grounded view of where the market stands. The takeaway? RWAs aren’t just working; they’re integrating into the financial system. From tokenized gold to private credit and T-bills, the conversation has shifted from “what if” to “what’s next.”
Julian opened with a candid view of IXS’s trajectory:
“We’ve gone through the journey of tokenizing VC funds and startup shares, ESOPs, carbon credits... The biggest frustration was that a lot of these private assets haven’t necessarily improved with tokenization.”
Today, the focus is sharp: treasuries, money market funds, and private credit. These are the assets seeing demand from stablecoin holders looking to escape crypto volatility without sacrificing yield.
“We’ve got a real demand from stablecoin holders to find yield-bearing instruments or institutional assets to balance against crypto… give the people what they want.”
For Julian, it’s no longer about tokenizing everything; it’s about building compliant infrastructure for what institutions actually want.
Cici introduced XAUm, Matrixdock’s gold-backed token, and its rapid growth:
“XAUM has gone from $5 million to $30 million AUM in just six months.”
Each XAUm token is backed 1:1 by LBMA-accredited gold, stored in Brinks and Malca-Amit vaults. Redemption starts at just 1kg, a significant improvement over traditional 12kg institutional bars.
“We’re trying to make gold from a static asset to a productive one.”
XAUM is available on InvestaX, and integrates with DeFi platforms like Curve and Kinza. With yield strategies and NFT-based transparency tools, XAUM represents more than digital gold; it’s programmable, accessible, and DeFi-compatible.
Jeff, from OpenTrade, focused on the infrastructure behind stablecoin yield products:
“The misconception is that tokenization is an end; it’s really just a means to unlock access.”
Built by former USDC architects, OpenTrade is a backend layer for exchanges and fintechs to offer embedded yield on USDC and USDT balances. With a UK-regulated asset manager and bankruptcy-remote SPV, it ensures off-chain trust meets on-chain demand.
“Same-day settlement, daily interest accrual, and full off-chain transparency that’s how you operationalize real-world yield at fintech scale.”
Partners include LATAM leaders like Lidio, Buenbit, and WUEX. Users see a yield pot. Underneath, OpenTrade does the heavy lifting.
Luke, CEO of Kasu, framed private credit as a breakout RWA segment:
“Our JV partner has handled $3 billion in accounting volume over eight years and hasn’t lost a cent.”
With a model that sources senior debt from TradFi and junior debt from DeFi, Kasu’s structure is winning institutional interest. Term sheets from Goldman Sachs and Citigroup back the model, and a $40M senior facility is already signed.
“We’re creating a new capital stack that brings TradFi and DeFi together in a synergistic way.”
Kasu is open globally (except in sanctioned jurisdictions) and is working on a liquid wrapper to enable KYC-free access to yields of 14–25%.
Each platform is live and accessible in different ways:
As Julian noted:
“The more assets that get tokenized, the bigger crypto gets... They work in parallel.”
RWAs are no longer a pitch deck idea. They’re listed, earning, and scaling. From gold to credit to sovereign debt, the new frontier isn’t tokenization; it’s integration.
Real yield. Real compliance. Real adoption. The next chapter of digital assets is happening now and it's rooted in the real world.
Catch the full insight: Real-World Assets: Issuance & Innovation
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