Centrifugation
He will also act as Chief Investment Officer for Anemoy, the affiliated business management company of Centrifuge, Centrifuge.
The appointment comes as a tokenization of Real-World Activa (RWA) attracts new attention from the traditional financial world. Worldwide banks, asset managers are increasingly exploring with the help of blockchain rails for moving and recording ownership of assets such as bonds, funds and shares. They do this pursue of operational efficiency, wider distribution and around the clock, programmable transactions.
It is potentially a huge opportunity. The tokenized RWA market, now at $ 25 billion and more than doubling in a year, is expected to grow into several trillions of dollars in the following decade, according to reports from McKinsey, 21Shares, Ripple and BCG.
Centrifuge builds regulated structures for these products, positions itself as a bridge between blockchain rails and financial institutions that are looking for exposure to digital versions of well -known investment products. It has more than $ 760 million in total value on the platform, according to Defillama data, including the $ 400 million tokenized US Treasury Fund issued with Anemoy. The protocol has recently expanded products to Avalanche (Avax) and Solana (SOL), made an on-chain version of the S&P 500 index and launched a tokenized fund of credit loan obligations with asset manager Janus Henderson.
Before he came to Centrifuge, Blumberg spent more than two decades in traditional capital markets at Goldman Sachs, Invesco and Blackrock, which developed the ETF market in a large part of the global asset management. In an interview with Coindesk he draws parallels between tokenization and the early days of ETFs and how it disturbed the market for investment funds.
“There is a large part of the world that was never really the focus of traditional finances: Global South, for example, or all those countries that have problems with high inflation, or with currencies that are not really easy to use in other areas of law,” Blumberg explained. “Now they suddenly get a whole new ecosystem in the Defi [decentralized finance] world, with which they can all participate [and] Give them the same quality of products as someone else. “
“Tokenized real world assets really democratize the financial ecosystem,” he added.
Blumberg will focus on helping traditional financing companies in the chain and at the same time improve activities and tokenized products for institutional use.
“There is a major distribution option for Tradfi,” he said. “From the point of view of technology, if you are too late, you might miss the train.”
Read more: Credit Agricole’s Asset Serviceing Unit Backs tokenized SME exchange in Europe