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Goooood Morning, Rainmakers! ☀️

As always, we have two captivating topics for you to dive into:

1️⃣ 📱 Securitize’s New App: Now Available on the App Store

2️⃣ 💸 Default on $DAI: Default on Centrifuge Tokenized Loans

Without further ado, it's time to…

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📱 Securitize’s New App: Now Available on the App Store

Long are the days when investments had to be done in-person or over the phone, now it’s ON your phone. Just launch an app!

For stocks we have Robinhood or Fidelity. For crypto we have Coinbase. What about security tokens?

We have news from Securitize as they launched their app on iOS this past week! This comes only a month after WisdomTree launched theirs, WisdomeTree Prime.

You’ll have access to both primary and secondary market offerings right on the Securitize app including the Hamilton Lane Senior Credit Opportunities Fund, KKR Healthcare Growth II fund, and TNT Franchise Fund.

Like WisdomeTree Prime, the Securitize app will help onboard investors to tokenized offerings. It feels like a normal app, no one would suspect these assets are on-chain… meaning not a huge learning curve!

I will say I did notice something while logging in…

Ok ok I got you.

The Cash Balance feature is now enabled by fintech company Synapse. Prime Trust was Securitize’s cash custodian until they started having issues earlier this year, resulting in trading coming to a halt. Looks like Securitize is talking to someone else now.

Although Synapse is not a bank, they’re working with partner financial institutions to make this possible. Great for them and I have full confidence the Securitize team did their due diligence in selecting Synapse. Of course though, as always, do your own research (DYOR)!

Congratulations Securitize on another step toward making tokenized assets as accessible and investor-friendly as possible!

As you Rainmakers know, we at STM are focused on growing the adoption of tokenization while fostering innovation for our ecosystem. To that end, we aim to centralize an environment where thought leaders, innovators, and enthusiasts can gather to exchange ideas, discuss challenges, and chart the course for the future of finance using tokenization.

This is going to be a 3-day event, fully virtual, and FREE to attend… so there’s no excuse! Whether you’re a forward-thinking asset manager, a service provider, an issuer, or an investor, there’s something here for you. If you go to summit.stm.co you’ll find a tentative agenda, information on our VIP access pass, secured speakers (continuously updating), and of course where you can sign up for FREE!

💸 Default on $DAI: Default on Centrifuge Tokenized Loans

So just like you can go to the bank for a loan, you can get a loan on-chain through platforms such as Centrifuge.

ControlFreight underwrote a $2.7 million credit pool and minted $1.84 million of DAI from MakerDAO to finance transactions and freight forwarding invoices.

Well the pool’s largest borrower is in a bit of a situation… Hanhwa AUS Pty Ltd and Hanwha New Zealand Pty Ltd are the borrowers, found themselves in a legal battle over intellectual property (IP), and now the Australian supreme court decided to unwind their activities via a liquidator.

Because they may not be able to pay back their creditors, AKA the credit pool, the $1.84 million in DAI is at risk! This shouldn’t destabilize the stablecoin as it’s a small amount in the grand scheme of things.

That being said, it does beg the question as to whether or not Maker wants to keep partially backing DAI through tokenized loans especially since they were just defaulted another $2.1 million last month!

As with any loan, default is always a risk which MakerDAO had to be aware of. At what point does a lender draw the line? Good question. We’ll definitely keep an eye on this for new developments.

💦 What else is Drippin’

Fireside Chat: Operational Savings with Intain

The STA Success Network will be hosting a fireside chat with Intain this Wednesday, August 30th at 11am EST.

Our upcoming fireside chat with Intain will cover operational savings - something often overlooked when talking about the benefits of tokenization yet extremely valuable especially at institutional levels. Intain’s administration platform (IntainADMIN) has serviced around $6 billion in assets and their secondary trading platform (IntainMARKETS) is gearing up for active launch as an end-to-end solution for asset-backed securities.

Join us for an exciting deep dive on August 30th at 11am EST!

If you’re interested in access to webinars like these, consider subscribing to the STA Insights plan for ONLY $9/month which also includes their email newsletter twice a week detailing what’s going on in the ecosystem, STA’s commentary on it, and any insights derived from our advisory and research arm.

State of Security Tokens 2023 - Q1 Extended Report

The Security Token Advisors State of Security Tokens 2023 - Q1 Extended report is brought to you by the Provenance Blockchain Foundation!

Our Head of Research and Institutional, Peter Gaffney, dives deep with updates from across the industry, from issuers to platforms to protocols. This piece will detail the macro trends taking shape within the tokenization space as a function of service providers like transfer agents, broker-dealers, alternative trading systems, custodians, and third-parties, as well as issuers, blockchain foundations, asset managers, investment banks, and activity that Security Token Advisors sees on its advisory side

Take a read for analysis on common themes emerging for both primary and secondary markets!

This is not financial or investment advice.

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If interested, please reach out to [email protected] to find out a way we can work together :)

Everything in this newsletter is for informational and entertainment purposes only. Nothing in this report should be taken as financial advice or as an inducement to purchase or sell any security. Nothing in this newsletter should be used as legal advice. Always do your own research before making any decisions regarding financial transactions of securities.