The launch is the latest example of tokenization, a rapidly growing sector that places traditional assets such as funds, bonds and stocks on blockchain networks. Proponents argue that the technology can facilitate the transfer and settlement of assets, reaching more investors globally while enabling 24-hour trading.
Major companies including BlackRock, Franklin Templeton and Apollo have launched tokenized investment products, helping to drive the market for tokenized assets to more than $30 billion, excluding stablecoins, according to data from rwa.xyz.
From crypto critic to tokenization proponent
Atlas’ move is notable because Roubini has spent years criticizing cryptocurrencies as speculative assets with little intrinsic value. However, the distinction appears to lie in the underlying assets.
The fund behind the USAfi token seeks stable returns in different economic environments while preserving capital through exposure to US Treasuries, real estate, gold and agricultural commodities.
“We are living in the most dangerous time in a generation for savers,” Roubini said, citing inflation, trade wars and geopolitical tensions that are eroding investors’ purchasing power. “For years I have argued that most digital assets offer no protection against this because they have no real assets behind them,” he said.
Atlas presents the USAFi token as a “Technodollar” product. CEO Reza Bundy argued that while stablecoins are designed to move dollars on blockchain rails, tokenized investment vehicles like USAFi can serve as digital reserve assets by providing investors with exposure to a diversified portfolio of productive assets.
