Latest developments: NUVA is positioning itself as a chain-agnostic marketplace for tokenized financial assets.
- NUVA launched with nearly $19 billion in tokenized home equity lines of credit ad Treasuries from Figure Technologies, according to CEO Anthony Moro.
- Moro joined CoinDesk’s Jennifer Sanasie on Public Keys.
- Moro, a former BNY Mellon executive, said the company believes “every single financial asset in the entire world is going to be tokenized over the next decade.”
- The Ethereum-based platform is designed to connect issuers and investors seeking yield-bearing tokenized assets.
- NUVA ‘s partners include Animoca Brands, which Moro said will help distribute products globally through its crypto network.
Why it matters: NUVA is betting regulated tokenized securities can bridge traditional finance and decentralized finance.
- Moro said NUVA embraces regulation instead of trying to “break things first and then ask permission later.”
- One of the platform’s flagship products is a yield-bearing stablecoin structure registered with the SEC under the Investment Company Act of 1940.
- Moro said the product avoids some of the ongoing legal uncertainty surrounding stablecoin yield debates in Congress because it is structured as a registered security.
- The platform also enables permissioned real-world assets to be packaged into blockchain-based tokens that can trade more freely on Ethereum.
The context: Moro sees his decades in traditional finance as a precursor to crypto tokenization.
- Moro spent 22 years at BNY Mellon, primarily in the American Depositary Receipt business, which allows foreign shares to trade in U.S. markets.
- He compared ADRs to crypto vault structures, saying both transform one type of financial asset into another tradable format.
- Moro said blockchain infrastructure simplifies functions like custody, clearing and trading that have historically required layers of financial intermediaries.
- “We’re at that moment today with NUVA,” Moro said, comparing crypto’s current stage to the early days of the New York Stock Exchange.
Broader view: NUVA is targeting global demand for U.S. dollar-denominated yield products.
- Moro said many investors outside the U.S. lack access to high-quality U.S. income-generating assets.
- He argued tokenized products backed by U.S. real estate loans could appeal to users in underbanked regions who only need a crypto wallet for access.
- NUVA plans to operate continuously on-chain, allowing users to access products “24/7, 365” rather than during traditional market hours.
- Moro said the company’s global ambitions reduce its dependence on U.S. regulatory outcomes alone.
Worth watching: NUVA plans to introduce a token tied to platform ownership and future fee generation.
- Moro said more than 50% of the platform will ultimately be owned by users through a future token.
- Users currently accumulate points for using the platform, which Moro said will later convert into NUVA tokens.
- Moro acknowledged skepticism around crypto token launches after many poorly received token generation events in recent years.
- He argued NUVA’s token would differ because it is tied to ownership in a platform that generates transaction fees from real-world asset activity.
