Coinbase continues its winning streak in the crypto industry this week with the dismissal of a lawsuit in Vermont and the approval to offer its services in India. The company, which has been keen on offering tokenized securities since before it went public in 2021, awaits the green light. The approval could significantly boost the growing real-world asset (RWA) market, which aims to bring assets like stocks, bonds, property, or even land on-chain.
While traditional finance has sometimes dismissed the RWA market, it could provide a faster way to reduce settlement times. BlackRock currently dominates the RWA space, with its BUIDL fund topping $1 billion worth of assets under management. The Hashnote Short Duration Yield Coin follows, boasting an AUM of $868 million. Over the past month, RWAs have grown by 18% to $18.3 billion, according to rwa.xyz.
As more RWA products come on-chain, investors may find it easier to transfer to the safety of T-bills without needing a traditional brokerage account. But Coinbase isn’t limiting its ambitions to the US; it’s also looking to Europe.
The company also expanded its services this week by launching 24/7 access to Bitcoin and Ethereum futures. The increased trading hours are likely to increase Coinbase’s revenue, which primarily comes from transaction fees. By the end of 2024, cash generated from operations reached $2.5 billion, more than double the $922 million recorded in 2023.
Meanwhile, rumors are flying about potential crypto company IPOs in 2025. First off the blocks is Gemini, which reportedly filed for an IPO with Goldman Sachs and Citigroup. If successful, it would be the first company to transition from the rumored IPO list into the real race.
However, relaxed Securities and Exchange Commission rules mean it could be a while before investors hear about other potential IPOs.
In other news, Michael Saylor’s Bitcoin Strategy company maintained its Bitcoin holdings at 499,096 Bitcoin, with no increase since Feb. 24. The company’s shares closed at 297.49 on the Nasdaq on Friday, up 13%.
Finally, asset manager Rex Shares launched an ETF to bring Startegy’s Bitcoin-backed bond offering to individual investors. Earlier in the week, Rex and Osprey Funds applied to offer an ETF that would track the price of MOVE, the Movement Network token that launched in November.
As the crypto industry continues to evolve, companies like Coinbase and Strategy are leading the charge in pushing for more innovative and inclusive financial solutions.
