Trust Wallet, a self-supporting crypto wallet owned by Binance co-founder Changpeng “CZ” Zhao, has integrated tokenized inventory and Exchange-Traded Funds (ETFs) into the platform.
After first revealing plans to introduce real-world assets (RWAS) in June, Trust Wallet launched tokenized versions of US stocks and ETFs for use worldwide, the company said in an announcement shared with Cointelegraph on Wednesday.
The integration will be carried out in collaboration with Ondo Finance, which focuses on the major RWAS-focused Decentralized Financial (DEFI) platforms and on the 1inch decentralized exchange (DEX) aggregator.
“Integrating RWA into an independent wallet is a critical step to making global finance more open and efficient,” said Eowyn Chen, CEO of Trust Wallet.
“The big picture is how blockchain democratizes access to financial markets and lays the foundation for a more inclusive future finance,” she added.
Ondo brings assets, and 1 inch powers Rails
As part of the collaboration, Ondo Finance will provide trust wallets with tokenized RWA assets (stocks, ETFs, bonds) first issued on Ethereum and Solana using Smart Contracts.
In the meantime, the 1-inch fusion will enhance liquidity and pricing, ensuring smooth and efficient swaps in the RWA.
“In short, Ondo brings assets, an inch of power brings Rails, and Trust Wallet can be accessed on its own duty to act independently and as a platform or tool,” Sami Waittinen, Marketing Head of Trust Wallet, told Cointelegraph, adding:
“The Trust Wallet philosophy has always relied on multichines and providers. This is just the beginning. As more RWA providers and liquidity sources are integrated over time, users will get the widest and open access possible.”
According to the Trust Wallet website, RWA tokens are not available in certain regions, including the US, UK and the European Economic Area (EEA). “If you live in an area where RWA tokens are not available, the swap will not pass,” Trust Wallet said.
Additionally, RWA swapping continues on market hours from 1:30pm to 8pm Monday through Friday. “We cannot exchange RWAs outside of these times, but we will track out-of-hours interest for future features such as 24/7 trading and restricted orders.”
Independence and RWA merge
By launching RWA support with independent wallets, Trust Wallet emerged as one of the first platforms to integrate RWA and the concept of independence.
Independent individuals allow users to manage their assets independently, but with no centralized control, a tokenized RWA is a digital representation of real-world properties that act as a certificate of ownership.
According to Sami Waittinen of Trust Wallet, the collaboration is in line with the company’s mission to promote freedom of ownership and provide people with direct, secure access to the entire range of opportunities in Crypto and Web3.
“Tokenized RWA is a natural next step, as it unlocks traditionally gated assets such as stocks and ETFs and makes them accessible to anyone anywhere from their wallet. It is a powerful extension of the meaning of self-learning,” he said.
Related: Tokenized alternative funds jump from 47% to $1.7 billion in 30 days
Lucien Bourdon, an analyst at Hardware Wallet Company Trezor, distinguished between two perspectives when dealing with the combination of independence and RWA.
“If a blockchain supports real-world asset tokens, a self-supporting hardware wallet that supports that chain can hold them firmly,” Bourdon told Cointelegraph.
From a wallet perspective, he said there is no difference between RWA tokens and other tokens, adding that some examples such as gold and Treasury tokens have already been saved in this way.
However, from an ownership perspective, he said there is an important distinction between the two.
“In cryptocurrency, your key equals the direct ownership of an asset. When you use an actual asset or a stubcoin, the key protects the token, but the underlying asset remains the issuer or custodian,” Bourdon said.
“It means that independent things work technically, but trust in the publisher is still essential.”
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