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Animoca Brands and Nuva Labs have launched NUVA, an Ethereum marketplace designed to connect approximately $19 billion in tokenized real-world assets—originating in the Provenance blockchain ecosystem—with decentralized finance (DeFi) markets. The initiative is intended to convert institutional financial products into instruments that retail users can trade, lend, or use as collateral within the DeFi ecosystem.
The tokenized assets linked to NUVA come from Figure Technologies Solutions, the blockchain firm founded by Mike Cagney, former CEO of SoFi. Figure operates within the Provenance ecosystem, which has become one of the leading on-chain private credit issuers globally.
NUVA will launch with two products:
In terms of mechanics, users deposit stablecoins into the vaults and receive ERC-20 tokens representing their share of the underlying assets. Those ERC-20 tokens can then be traded, lent, or used as collateral in DeFi protocols on Ethereum.
Anthony Moro, CEO of Nuva Labs and a former executive at BNY, said the project is focused on building natively on-chain financial assets rather than creating digital versions of existing products. He also highlighted the need for a unified distribution layer for blockchain-native assets, describing NUVA as a platform intended to make institutional-quality assets available in a simple, composable format.
Moro also criticized tokenization approaches that depend on off-chain infrastructure and manual reconciliation. He said the long-term plan includes onboarding assets from multiple issuers and expanding to other networks beyond Ethereum.
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