In response to increasing market demand for tokenized real-world assets from fund issuers and investors, Provenance Blockchain Labs (ProvLabs), a blockchain development company building a modern financial services operating system with the dApps and expertise TradFi needs to digitize trillions of dollars of assets on the Provenance Blockchain, announced the launch of a platform that offers a comprehensive tokenization, administration, listing and lending solution.
The announcement was made in parallel with the announcement of a partnership with Figure Markets and NAV Lend.
By utilizing ProvLabs’ platform, asset managers can list their funds on Figure Markets’ digitally native “everything marketplace” — a “decentralized custody marketplace for crypto, stocks, bonds, credit, and more.”
If appropriate, funds can also be traded on the SEC-registered Alternative Trading System (ATS) operated by Figure Securities, Inc., a registered broker-dealer.
Investors will also have the option to “utilize the streamlined onboarding of Figure Market’s universal passport.”
NAV Lend, a lending platform that connects borrowers to lenders, will allow investors to use their fund interests as collateral for loans.
These loans, also known as “NAV loans,” have existed in traditional financial services for more than a decade, but their adoption has “been limited because of transparency and efficiency issues. NAV Lend’s solution is considerably more visible and efficient because it uses the Provenance Blockchain and Digital Asset Registry Technologies, Inc. (DART) to register, verify, and perfect counterparties’ assets and ensure that assets remain under the appropriate control until the transaction is completed.”
Anthony Moro, CEO of ProvLabs, said the ProvLabs platform helps fund managers benefit from the transformative nature of the Provenance Blockchain. Both issuers and investors can materially benefit from the process’s issuance, transfer, settlement, and efficiency.
Figure Markets CEO Mike Cagney said the collaboration will unlock value for investors and the issuer.
“This strategic partnership between ProvLabs, NAV Lend, and Figure Markets provides the fund industry’s best path to realizing blockchain’s true value.”
The companies said that today’s announcement brings fund tokenization full circle.
Provenance currently reports over $12 billion in financial asset value locked on-chain and more than $30 billion in supported transactions.