Enso Launches RWA Application Offering Access to Over 500 Tokenized Assets
Quick Look
- Web3 platform Enso has launched a new application providing access to over 500 tokenized assets, including stocks, ETFs, and Treasurys, through integrations with xStocks, Ondo Finance, and Anchorage Digital.
- This move simplifies access to tokenized assets and caters to growing global demand, particularly from Europe.
AI-generated summary
Why It Matters
Enso, a Switzerland-based Web3 development platform, has launched an application that provides access to over 500 tokenized real-world assets (RWAs) by integrating with platforms like xStocks and Ondo Finance.
Switzerland-based Web3 development platform Enso has launched a real-world asset (RWA) application offering access to more than 500 tokenized assets through integrations with xStocks, Ondo Finance and Anchorage Digital's Porto.
Through Enso's execution layer, users can access tokenized stocks, ETFs, Treasurys, commodities and stablecoins. Ondo will provide tokenized equities, treasury products and capital markets infrastructure, while xStocks will enable access to tokenized equities and ETFs, according to a Monday announcement shared with Cointelegraph.
Available assets include major US companies such as Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta, Tesla and SpaceX.
Enso said bringing these assets under a unified distribution and execution layer would simplify access to tokenized assets across multiple venues and improve the user experience.
The launch adds Enso to a growing field of European crypto firms expanding into tokenized traditional assets. Earlier this year, Austria-based Bitpanda expanded its offering to roughly 10,000 stocks and ETFs, while a number of European digital asset firms have moved to capitalize on growing demand for tokenized securities.
Enso expands access to tokenized assets. Source: Enso
Tokenized US equities have attracted significant demand from investors outside the US, particularly in Europe, Enso co-founder and CEO Connor Howe told Cointelegraph:
The demand concentrates in two places: tokenized access to US markets, with the around-the-clock trading traditional venues can't match, and yield-bearing dollar assets.”
Tokenized asset holders rise 13% amid growing demand
The launch comes amid growing demand for tokenized assets. The number of tokenized asset holders rose 13.4% over the past 30 days to 930,612, according to data from RWA.xyz. The total value of tokenized assets, however, fell 0.9% during the same period.
Total RWA value onchain, all-time chart. Source: RWA.xyz
US Treasury debt was the largest tokenized asset category with $15 billion in onchain value, followed by tokenized commodities at $4.6 billion and asset-backed credit at $2.2 billion. Tokenized stocks accounted for $1.6 billion in total onchain value, ranking fifth among tokenized asset categories.
Related: Franklin Templeton, BNP Paribas see tokenization boosting EU's capital efficiency
Tokenized stocks first crossed $1 billion in total onchain value on March 10, when Ondo accounted for about 58% of the market and xStocks about 24%.
Open Questions
- What are the specific fees associated with using Enso's RWA application?
- What is the long-term strategy for Enso's RWA offerings?
- How will regulatory changes impact the growth of tokenized assets on Enso?
