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Brickken has since its inception in 2020 been a leading contributor to the advancement of the Real World Asset (RWA) tokenization space. After launching the Token Suite on Ethereum in March 2023, over $200.000.000 has been tokenized using Brickken’s products. These tokenizations have led to an accumulated $5.000.000 in TVL.
Currently sitting at top #16 in the blockchain Ecosystem according to DefiLlama, #11 on Ethereum, and #1 on Binance Smart Chain (BSC), the time has come to extend the availability of the Token Suite through its deployment on Coinbase’s Base.
Centralized Exchange Coinbase made headwaves in late 2023 when officially launching its long-awaited Layer 2 blockchain; Base. Base is an Ethereum layer 2 chain that offers a safe, low-cost, developer-friendly way to build on-chain.
What makes Base unique is its seamless integration with Coinbase products, fiat onramps, and acquisition tools that enable developers to serve over 110M verified users and $80B assets in the Coinbase ecosystem.
Since its launch in August 2023, Base has amassed a Total Value Locked (TVL) of $877M, with a cumulative 3.7M daily new users according to Dune Analytics.
Coinbase has over the past years established itself as the go-to facilitator of institutional onboarding, offering custodial services and a wide range of products to actors looking to make a move into digital assets.
Their recently launched Project Diamond - a smart-contract-powered platform for institutions to create, manage, buy, and sell digitally native assets on-chain is a direct result of the growing reconciliation between traditional finance & digital finance.
With the tokenization of Real World Assets being a rapidly growing narrative on the Base blockchain, this makes the deployment on Base a natural next step in Brickken’s evolution. Coupled with multiple requests from potential partners and Token Suite users, Brickken’s presence on Base aims to facilitate institutional and retail onboarding into the digital asset ecosystem.
The inherent characteristics of traditional finance, in the form of investor verification, know-your-customer (KYC), and Anti-money laundering (AML) requirements, are also applied to Token Suite Clients in the cases of Real World Asset or securities issuances. By building on a Layer 2 ecosystem cohesive with the narratives around tokenization, Brickken clients can:
This is of high significance due to securities and asset legislation, making the onboarding of investors quicker and more scalable.
Considering the objectives of the Base blockchain, the dApps and ecosystem products that are being built may prove very valuable for not only institutional clients but also traditional businesses. Examples may include custodial services, digital identities, lending- and borrowing protocols gated for verified users.
Different blockchains and L2s are created with different narratives or objectives in mind. By deploying digital assets on base, Issuers make sure that they are building within an ecosystem sharing the same vision. This increases the likelihood of growth and relevance concerning the target user base and new applications built on top.
Brickken’s deployment on Base will allow users and clients of the Token Suite to tap into a blockchain that is centered around the development of digital- and Real World Assets (RWA). As the tokenization space grows, users are onboarded, and developments are implemented, the Token Suite will be fully composable and interoperable with an ecosystem that will accelerate the adoption of RWA tokenization. Furthermore, deploying on a Layer 3 that is seen as one of the main chains for institutional onboarding will help position Brickken as one of the go-to platforms to faciliate this transition from traditional finance.
This is only one step in the Token Suite becoming blockchain agnostic, allowing for clients to choose their preferred chain based on objectives, convictions, and future expected growth
