MIAMI, May 30, 2024 /PRNewswire/ — Fortunafi Holdings (or “Fortunafi”) today announced the completion of its strategic funding round, closing $9.5M in total funding. The move marks a broader effort to not only expand its current RWA product offering, improve the utility of tokenized assets, and grow its distribution, but also launch a new stablecoin protocol. Key investors of Fortunafi include Shima Capital, Manifold, Cobie, Evanss6, Scott Lewis, Ari Litan, Austin Green, and many more.
The latest funding round comes off the back of Fortunafi launching its Tokenized Asset Protocol (TAP), the first global cross-chain tokenization protocol, in December 2023. Both U.S. and non-U.S. individuals and institutions can get exposure to tokenized assets on the Arbitrum, Blast, and Canto blockchains – with support for more products on additional blockchains coming in the months ahead.
Nick Garcia, founder and CEO, commented, “We’re beyond excited to close out this strategic funding round and pursue new and existing opportunities. Here at Fortunafi, we believe the biggest opportunities that exist today in the broader cryptoasset industry fall within the RWA and stablecoin sectors. We have a distinct vision of what both sectors will look like in the years ahead and we’re ready to execute on our mission.”
As identified by Fortunafi and many other TradFi institutions, the RWA/tokenization industry represents a multi-trillion dollar opportunity. Currently, institutions believe the RWA sector represents a $5 trillion – $30 trillion market opportunity by the year 2030. Furthermore, a recent report by Bertstein estimates that the stablecoin market will scale from $170 billion to nearly $3 trillion over the next 5 years, marking a +1,760% increase.
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About Fortunafi
Fortunafi is a leading onchain financial institution spearheading advancements in the Real World Assets (RWA) sector. Through key partnerships and integrations, Fortunafi delivers the tokenization of RWAs onchain to bring DeFi-structured yield products, alternative lending, and all-in-one liquidity solutions to financial institutions, startups, and investors. In contrast to traditional capital markets and securitizations, Fortunafi eliminates rent-seeking capital market participants and verticalizes the entire process from asset creation to the final onchain tokenization.
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SOURCE Fortunafi
