Realize T-BILLS基金在阿布達比全球市場推出

第一個在阿布達比全球市場獲得許可的代幣化國庫券基金於週四推出，其創建者希望從阿布達比全球市場吸引 1 億美元。

The first tokenised treasury bill fund licensed in the Abu Dhabi Global Market (ADGM) launched on Thursday, aiming to attract $100 million from investors within a year.

第一個在阿布達比全球市場（ADGM）獲得許可的代幣化國庫券基金於週四推出，旨在一年內吸引投資者 1 億美元。

Such funds buy United States treasuries, which are US government bonds, and then create a blockchain-based token to represent these assets, thereby enabling digital, fractional ownership that may prove more liquid and accessible.

此類基金購買美國國債，即美國政府債券，然後創建基於區塊鏈的代幣來代表這些資產，從而實現數位化、部分所有權，這可能證明更具流動性和更容易獲得。

According to the website rwa.xyz, investment in tokenised treasury funds has soared to more than $2.4 billion worldwide, up from just $105 million at the start of 2023.

根據 rwa.xyz 網站的數據，全球代幣化國庫基金的投資已從 2023 年初的 1.05 億美元飆升至超過 24 億美元。

These tokenised funds are now held across nearly 8,800 addresses, or accounts, at an average of $275,000 each.

這些代幣化資金目前保存在近 8,800 個地址或帳戶中，平均每個地址或帳戶價值 275,000 美元。

The Realize T-BILLS Fund is launched by Abu Dhabi-based duo Neovision Wealth Management and Realize.

Realize T-BILLS 基金由阿布達比的 Neovision Wealth Management 和 Realize 合作夥伴發起。

Neovision will manage the fund, while Realize operates the supporting technology.

Neovision 將管理該基金，而 Realize 則營運支援技術。

Speaking to AGBI, Dominik Schiener, Realize’s co-founder, said his target was for the fund to have $100 million in assets under management in 12 months’ time. Of this, he expects 20 to 30 percent will come from investors in the Gulf and the remainder from Europe and Southeast Asia.

Realize 共同創辦人 Dominik Schiener 在接受 AGBI 採訪時表示，他的目標是該基金在 12 個月內管理的資產達到 1 億美元。他預計其中 20% 至 30% 將來自海灣地區的投資者，其餘的則來自歐洲和東南亞。

“Southeast Asia is going to be the largest demographic for us. We also want to do a lot in the Middle East because it has a high penetration of crypto users and wealthy individuals,” Schiener said.

「東南亞將成為我們最大的人口群體。我們還想在中東做很多事情，因為那裡的加密貨幣用戶和富裕個人的滲透率很高，」席納說。

Arvind Ramamurthy, Abu Dhabi Global Market's chief market development officer, said in a statement announcing the fund’s launch: “As a tokenised investment fund adhering to stringent regulatory standards, it positions the international financial centre of Abu Dhabi as a global leader in real-world asset tokenisation.”

阿布達比全球市場首席市場開發長Arvind Ramamurthy 在宣布該基金推出的聲明中表示：「作為一個遵守嚴格監管標準的代幣化投資基金，它將阿布達比國際金融中心定位為現實世界的全球領導者。

The Realize T-BILLS Fund invests in three-month US treasury bill ETFs (exchange-traded funds) run by BlackRock and State Street Global Advisors.

Realize T-BILLS 基金投資於由 BlackRock 和 State Street Global Advisors 所經營的三個月期美國國庫券 ETF（交易所交易基金）。

Its minimum investment is $50,000, and it is open to qualified investors worldwide outside of the United States.

其最低投資額為 50,000 美元，開放給美國以外的全球合格投資者。

“The fund holds the ETF in custody. The key difference is that instead of having a typical share registry, we have it as tokens,” Schiener said.

「該基金託管 ETF。關鍵的區別在於，我們沒有採用典型的共享註冊表，而是將其作為代幣，」Schiener 說。

“The tokens represent physical and legal ownership in the fund. You can create new markets to trade these tokenised assets, so you have more liquidity and new utility.

「代幣代表了基金的實際和合法所有權。您可以創建新的市場來交易這些代幣化資產，這樣您就可以擁有更多的流動性和新的效用。

“It's not a cryptocurrency, but a security token, because it's backed by the underlying securities, which are treasury bills.”

“它不是一種加密貨幣，而是一種證券代幣，因為它有基礎證券（即國庫券）的支持。”

The fund accepts conventional currency via wire transfer as well as Bitcoin, Ethereum and Iota tokens.

該基金接受電匯傳統貨幣以及比特幣、以太幣和 Iota 代幣。

Whether fiat money or crypto, these are then used to buy the ETFs via Swissquote, an online trading platform based in Nyon, Switzerland.

無論是法定貨幣還是加密貨幣，這些資金都可以透過 Swissquote（位於瑞士尼永的線上交易平台）購買 ETF。

“It automatically gets converted into a token and you receive the token into your wallet,” Schiener said. “So, you have instant liquidity.”

「它會自動轉換為代幣，然後您會將代幣接收到您的錢包中，」席納說。 “所以，你擁有即時的流動性。”

Schiener said the fund’s target investors were wealthy individuals or entities already invested in crypto but who “want to diversify out of volatile crypto towards safer, yield-bearing assets that are collateralised”.

希納表示，該基金的目標投資者是已經投資了加密貨幣的富有個人或實體，但他們「希望擺脫波動性的加密貨幣，轉向更安全、有收益的抵押資產」。

He said he also hoped to attract more conventionally minded investors and family offices that want to obtain exposure to crypto and “leverage their portfolio”.

他表示，他還希望吸引更多具有傳統思維的投資者和家族辦公室，他們希望獲得加密貨幣並「利用他們的投資組合」。

“Realize's tokenised fund will enable investors to use treasury ETF holdings in new ways that you haven't been able to do with the traditional financial ecosystem, or where it's very expensive to do that,” Schiener said.

Schiener 表示：“Realize 的代幣化基金將使投資者能夠以傳統金融生態系統無法做到的新方式使用國庫 ETF 資產，或者這樣做的成本非常昂貴。”

“The key innovation is, you can then leverage these tokenised assets in what we call yield vaults. You can take out a loan against the tokens and generate additional yield by acquiring other assets,” he said. “This collateralisation and the instant liquidity, where you can trade treasury bills, will be the most exciting part of this.”

「關鍵的創新是，您可以在我們所謂的收益金庫中利用這些代幣化資產。你可以以代幣為抵押貸款，並透過收購其他資產來產生額外的收益，」他說。 “這種抵押和即時流動性（您可以在其中交易國庫券）將是其中最令人興奮的部分。”

Realize will soon launch an online platform where institutional investors can lend to fund token holders who will use their tokens as collateral.

Realize 很快就會推出一個線上平台，機構投資者可以向基金代幣持有者提供貸款，而基金代幣持有者將使用其代幣作為抵押品。

“The objective for the investor would be to generate a higher yield than what they're paying in interest” on their collateralised borrowings, Schiener said.

希納表示，「投資者的目標是獲得比他們支付的利息更高的收益率」。

“As we give new options to generate yield beyond just the underlying yield of the treasury bills, it gets a lot more attractive for investors,” he said. “We’re already working on two more structures to tokenise different assets. Setting up something for retail investors would be also very interesting.”

他表示：“隨著我們提供新的選擇來產生超出國庫券基礎收益率的收益，它對投資者來說更具吸引力。” 「我們已經在研究另外兩種結構來對不同的資產進行代幣化。為散戶投資者設立一些東西也會很有趣。