Yasuda on Tokenization

The U.S. Securities and Exchange Commission (SEC) has issued new guidelines that clarify the regulatory framework for tokenized assets. The guidelines define which digital tokens are considered securities and set forth strict criteria for tokenized representations of traditional assets. Emphasizing transparency and investor protection, the SEC requires issuers of tokenized securities to meet rigorous disclosure standards, mirroring those in traditional financial markets. This move aims to boost investor confidence and ensure a level playing field in the rapidly evolving digital asset space.

In addition to establishing clear definitions, the guidelines provide a phased compliance roadmap, allowing market participants sufficient time to adjust their practices and adhere to the new requirements without disrupting the market. This transitional approach seeks to balance innovation with robust regulatory oversight. For more detailed information on these guidelines, please visit the SEC’s official page at SEC Guidelines for Tokenized Securities.

Redbelly Network is an Australian-based blockchain platform focused on the tokenization of real-world assets while ensuring regulatory compliance. Developed in collaboration with institutions such as the University of Sydney and CSIRO’s Data61, the platform uses Deterministic Byzantine Fault Tolerance (DBFT) to maintain security, prevent forks, and reduce double-spending risks. It also incorporates identity verification methods using zero-knowledge proofs and verifiable credentials to protect user privacy and support transparency. 

In its latest announcements, Redbelly outlined plans to tokenize three asset classes: private equity, rent rolls, and carbon credits. For its private equity initiative, Redbelly is partnering with Liquidise, an Australia-based platform that sources individual deals from private companies and facilitates investor solicitation. In parallel, Redbelly is working with Hutly, an Australia-based firm focused on property assets, to tokenize $1.8 billion in rent rolls. Additionally, in a joint effort with CarbonHood and Blubird —also both based in Australia—the network aims to tokenize an initial 950 million tons of carbon credits (valued at approximately $70 billion), with plans to expand to 32 billion tons by the end of 2025. In each case, the asset owners and their specialized partners handle deal origination and investor solicitation, while Redbelly provides the blockchain infrastructure to support liquidity, transparency, and compliance.

Over the past several months, a wave of specialized platforms focused on tokenizing real‑world assets (RWA) has secured notable early‑stage funding. RealT raised a seed round to expand its fractional ownership model for residential and rental real estate. Centrifuge (via its Tinlake Protocol) brought in seed capital for tokenizing invoices and trade receivables, while ArtChain (example) closed a seed round to further its mission of fractionalizing high‑value fine art. TerraToken (example) and CommoToken (example) also attracted investment to bring agriculture and commodities, respectively, into the blockchain realm, each focusing on regulated broker networks and dedicated token listings. Most recently, Brickken concluded its own raise, positioning itself to scale its tokenized real estate platform for both commercial and residential properties.

Despite varying in scope—from single‑family homes to precious metals—these platforms share a core objective: lowering barriers to traditionally illiquid assets by leveraging blockchain‑based fractional ownership. By working with diverse distribution channels—ranging from digital securities exchanges and DeFi protocols to specialized art marketplaces and direct broker‑dealer partnerships—they are aiming to bring heightened transparency, compliance, and liquidity to previously siloed markets. As the tokenization sector matures, these specialized ventures could potentially expand into broader asset classes while maintaining the niche focus that has defined their early success.

Ondo Finance has partnered with Ripple to launch its Ondo Short-Term US Government Treasuries (OUSG) on the XRP Ledger (XRPL), a public permissioned blockchain. This integration aims to provide institutional investors with a secure, compliant, and yield-bearing investment product backed by high-quality US Treasuries. The OUSG will be available on the XRPL, offering 24/7 liquidity and seamless interoperability with Ripple’s RLUSD stablecoin.

The tokenized US Treasuries will adhere to stringent KYC/AML standards and regulatory requirements, ensuring institutional-grade security and compliance. This partnership bridges the gap between traditional finance and decentralized finance, bringing the strengths of both worlds together and expanding the institutional-grade ecosystem on the XRPL