Business News Report
January 17, 2024

Obligate Joins Tokenized Asset Coalition to Drive Blockchain Adoption

Obligate Joins Tokenized Asset Coalition to Drive Blockchain Adoption

Blockchain-based debt securities protocol Obligate announced its selection as a member of the Tokenized Asset Coalition (TAC) – a step towards advancing institutional adoption of tokenized assets. The company secured its place among 15 other distinguished new members from a competitive pool of 300 applicants.

A regulated financial intermediary in Switzerland, Obligate allows companies to issue commercial papers and bonds using blockchain technology without relying on banks.

While the TAC was established in 2023 by industry giants Aave Companies, Centrifuge, Circle, Coinbase, Base, Credix, Goldfinch, and RWA.xyz to serve as a collaborative force with a focus on education, advocacy, and adoption of real-world asset tokenization.

“Obligate is led by a team of legal, tech and finance experts, combining cutting-edge technology with a profound understanding of traditional, regulated market infrastructure. We have gained extensive experience in tokenizing a diverse range of financing instruments across multiple legal frameworks,” Benedikt Schuppli, co-founder and CEO of Obligate told Metaverse Post.

“To ensure that these tokenized instruments are globally accessible and enforceable, Obligate has developed a sophisticated legal framework – eNote. This expertise is what Obligate brings into the TAC, aiming to collaboratively drive traditional finance onto the blockchain,” he added.

The 15 new members joining TAC alongside Obligate include Ava Labs, Backed, Chainlink Labs, Fireblocks, Keyrock, Maple, Ondo, ParaFi, Polygon Labs, Provenance Blockchain, Republic, Securitize, Solana Foundation, and Steakhouse Financial.

Obligate’s “Unique Approach” for On-Chain Capital Markets

Obligate is set to contribute its experience in arbitration, regulation, and tokenization to TAC, participating in research initiatives focused on Tokenization Laws, DLT-based Dispute Resolution & Arbitration Schemes, and RWA Regulation.

According to the company, instead of simply tokenizing existing financial instruments, such as T-bills, that are already issued on traditional finance (TradFi) infrastructure, it focuses on the native issuance of securities as transferable tokens on public blockchains.

“Built around the eNote framework, this approach enables corporates and financial services providers to issue a variety of digital securities ranging from short-term notes and coupon-bearing bonds to structured investment products – directly and in a peer-to-peer fashion,” Matthias Wyss, chief strategy officer at Obligate told Metaverse Post.

Emphasizing the importance of bringing together players in the industry, Colin Cunningham, TAC Chair said, “Our goal was always to bring together a diverse group of key players to ensure vast representation throughout the TAC. We want to bring together not only diverse representation, but the players we all can trust when it comes to compliance, security, growth, and adoption.”

The team at Obligate reiterates its aim to contribute towards achieving the objectives of the coalition. “Our core founding team consists of legal experts who are well-suited to help develop best practices and legal frameworks, aligning with TAC’s mission to accelerate institutional adoption of tokenized assets,” said Obligate’s Schuppli.

Obligate’s inclusion in the Tokenized Asset Coalition marks a crucial step forward in the evolution of on-chain capital markets, strengthening the industry’s intent to collaborate and innovate and work towards widespread adoption of blockchain technologies.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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