Former BNY exec launches NUVA, bets tokenization will remake Wall Street

Anthony Moro, a former BNY Mellon executive, has launched NUVA, a chain-agnostic marketplace for tokenized financial assets. The platform aims to revolutionize Wall Street by tokenizing virtually every financial asset globally within the next decade. NUVA's initial offerings include nearly $19 billion in tokenized home equity lines of credit and Treasuries from Figure Technologies. The Ethereum-based platform connects issuers and investors seeking yield-bearing tokenized assets, with partners like Animoca Brands assisting in global distribution. NUVA embraces regulation, offering a flagship product: a yield-bearing stablecoin structure registered with the SEC, which circumvents stablecoin yield uncertainties by being structured as a registered security. The platform also facilitates the tokenization of permissioned real-world assets for more fluid trading on Ethereum. Moro, drawing on his 22 years at BNY Mellon, compares tokenization to the ADR business, transforming assets into tradable formats. He believes blockchain infrastructure simplifies custody, clearing, and trading, likening NUVA's current stage to the early days of the NYSE. NUVA targets global demand for U.S. dollar-denominated yield products, particularly for investors outside the U.S. who lack access to high-quality income-generating assets. Tokenized products backed by U.S. real estate loans are envisioned to appeal to underbanked regions, requiring only a crypto wallet for access. The platform will operate 24/7/365, reducing reliance on traditional market hours and U.S. regulatory outcomes. NUVA also plans to launch a platform ownership token, with over 50% of the platform eventually owned by users who accumulate points through platform usage. Moro acknowledges past skepticism around token launches but asserts NUVA's token will be distinct due to its tie to platform ownership and transaction fees from real-world asset activity.

(Source：CoinDesk)