Finance
What to know:
- Keel has launched a $500 million campaign to attract real-world assets (RWAs) to the Solana network.
- The initiative, called the Tokenization Regatta, offers capital allocation and support to selected projects issuing tokenized assets on Solana.
- More than 40 institutions have shown interest, Keel contributor Cian Breathnach said.
Keel, which is basically the on-chain equivalent of a financial lifeguard in the Sky ecosystem (don’t ask how, we don’t know either), has decided that Solana needs some real-world assets (RWAs) for a change. How do they plan to make this happen? With a tiny sum of $500 million. Yep, pocket change. They’ve launched the grandiose-sounding “Tokenization Regatta” because, you know, everything sounds better with a bit of nautical flair.
The Regatta, announced at the prestigious Solana Breakpoint in the dazzling (and possibly sunburn-prone) land of Abu Dhabi, is set to woo tokenized asset issuers with promises of funding and support. Specifically, they’re offering to help fund debt, credit, or even funds on Solana, which, let’s be honest, is probably what every blockchain needs-a bit more debt. Because who doesn’t love tokenized debt? Am I right?
According to Cian Breathnach, a contributor to Keel who surely spends most of his days contemplating decentralized finance and possibly a good cup of coffee, over 40 institutions are already interested. Now that’s what we call a party. And yet, according to Cian, what’s been missing up until now is something critical-a “buy side” big enough to actually make it worth someone’s while. You know, like throwing a massive dinner party but realizing you forgot to invite the people who actually bring the food.
Keel, operating independently within the Sky ecosystem (formerly known as MakerDAO because branding is important), plans to pump $500 million into this initiative, aiming for a bigger prize: a whopping $2.5 billion eventually funneled into Solana-based tokenized finance. Because what else are you going to do with that kind of money? Build a luxury yacht? Nah, let’s tokenize everything!
If you’re wondering how this compares to similar efforts, look no further than the efforts of DeFi lender Spark, another Sky team member, which also decided to throw a billion dollars at tokenized assets earlier this year. Yes, a billion. Because when you’re dealing with decentralized finance, modesty is, apparently, overrated.
The first phase of applications opens on Thursday. Two tracks are available: one for issuers already planning to deploy by early 2026 (because who doesn’t love a little bit of time travel?) and another for those who are still figuring out how to get their infrastructure off the ground. A panel from Keel, Sky’s Risk Council, and Kinetica Research will judge the entries based on the usual suspects: quality of tokenization, yield potential, and liquidity. So, basically, it’s like a school talent show for tokenized assets, but with more money and less singing.
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2025-12-11 15:48