Tenbin Labs, a next-generation tokenization protocol, announced a $7 million seed round led by Galaxy Ventures, with participation from Wintermute Ventures, FalconX, GSR, Nascent, Variant, Archetype, and Bankless Ventures. Tenbin is building tokenized asset infrastructure by making on-chain assets faster, more liquid, and more capable than their off-chain counterparts. Tenbin’s mission is to accelerate the global adoption of onchain capital markets and tokenized assets, starting with gold, FX, and commodities.
Tokenization has exploded over the past few years. Treasuries, credit, gold, and FX are now being tokenized on-chain at a rapid pace. The global tokenized asset market (excluding stablecoins) is valued at $33 billion in 2025 and, according to research from Deutsche Bank, is projected to reach $3-4 trillion by 2030 (150%+ CAGR). Institutional allocators are expected to deploy 7–9% of their portfolios into tokenized assets by 2027.
However, most tokenized assets are structurally inferior to their off-chain equivalents, with limited utility and scalability. Today’s tokenization models wrap assets without rebuilding the market infrastructure that gives these assets utility. As a result, tokenized gold, FX, and commodities often trade with shallow liquidity, delayed settlement times, and on-chain price distortions that limit their usefulness as collateral or store-of-value.
Tenbin reverses this pattern by connecting on-chain assets directly to the global derivatives infrastructure where real liquidity resides, starting with the CME futures markets. Tenbin’s architecture aligns pricing, liquidity, and yield with the real-world markets underlying each asset. This design enables Tenbin’s tokenized assets to inherit deep real-world liquidity on-chain while unlocking yield originating from both institutional carry and DeFi. The result is a new class of institutional-grade, yield-bearing, tokenized assets that remain fully liquid and composable across the onchain ecosystem.
“Tokenization only works if onchain assets become more useful than their off-chain equivalents. Simply wrapping gold or FX onchain without rebuilding the underlying market structure creates assets that are slower, less liquid, and harder to use. Tenbin is the solution built to fix this broken structure,” said Yuki Yuminaga, co-founder and CEO at Tenbin Labs. “Our goal is simple, it is to make tokenized assets trade more efficiently, settle faster, and deliver utility that legacy off-chain assets cannot offer.”
Through a structured exposure mechanism and a dual on-chain/off-chain collateral architecture, Tenbin enables:
- ≈30-second minting and redemption (≈3 Ethereum blocks)
- Zero mint/redemption fees under normal conditions
- Yield-bearing exposure sourced from institutional carry and onchain stablecoin yield
- Deep liquidity inherited from underlying TradFi markets
- Full composability across the DeFi ecosystem
“What impressed us about Tenbin is their approach. They’re not wrapping assets, they’re rebuilding the entire issuance and liquidity stack for onchain markets. We believe Tenbin will play a foundational role in the evolution of onchain capital markets,” said Will Nuelle, general partner of Galaxy Ventures.
Tenbin will debut its first asset, yield-bearing tokenized gold, in early 2026, through integrations with major market makers and prime brokers including Hidden Road, Ripple Prime, and additional partners to be announced.