Galaxy Digital leads $7M investment in Tenbin to build improved tokenized gold and FX markets
Galaxy Digital led a $7 million seed investment in Tenbin to develop tokenized gold and emerging market FX assets using CME futures for better tracking and yield.Summary
Tenbin Labs, a startup co-founded by Yuki Yuminaga, raised $7 million in seed funding led by Galaxy Ventures (Galaxy Digital's VC arm), with participation from Wintermute Ventures, GSR, and others. The company aims to solve issues like thin liquidity and price drift in tokenized real-world assets by building institutional-grade tokens that closely track real-world prices and settle quickly.
Tenbin differentiates itself by anchoring pricing and managing exposure using CME futures contracts rather than relying on custody-based wrappers. This strategy allows the protocol to capture yield from the futures basis and pass it directly to users, enabling access to yield opportunities without needing direct relationships with local banks. The initial assets planned for launch are tokenized gold and emerging market currencies like the Brazilian real and Mexican peso.
The firm's first product, tokenized gold, is set to launch early this year with support from prime brokers like Hidden Road and StoneX. Tenbin is targeting DeFi investors looking beyond U.S. dollar stablecoins for more profitable, yield-bearing global market access, betting that real pricing, instant liquidity, and yield are key to tokenization's success.
(Source：CoinDesk)