Redbelly Network, the world’s first Compliant Asset Tokenisation (C.A.T.) solution, has partnered with the Digital Finance Co-operative Research Centre (DFCRC).
The partnership was announced during an industry event held by the DFCRC at the University of Wollongong Sydney Business School, where a panel, including Redbelly Founder Vincent Gramoli, discussed compliance in a tokenised world.
Redbelly’s compliance-first tokenisation solution brings the best of both worlds to the market, being built on top of a public and open layer 1 blockchain, but also designed specifically for regulated assets and their regulatory frameworks. All users on the network are verified and known using standardised approaches to Verified Credentials and incorporating Zero-Knowledge Proof (ZKP). This means Redbelly is uniquely positioned to help businesses accommodate both current and forthcoming regulations around tokenisation.
The announcement of the partnership with the DFCRC comes as the Real-World Asset (RWA) tokenisation sector experiences very strong growth. The total value of assets locked (TVL) in the RWA category has already passed the $6B USD level in 2023, on track for 5000% growth in the last year, towards what Boston Consulting Group has predicted will be a $16T+ USD market by 2030.
Redbelly Network Chair Alan Burt said the partnership had potential for major economic impact “Our Compliant Asset Tokenisation solution uses Web3 technology to solve real-world problems in a compliant way for a multi-trillion-dollar market – it’s a huge deal.”
“We are very excited to work with the DFCRC. Australia has always been a proving ground for technology-driven innovation and we plan to be a major player in Real World Asset tokenisation. ”
As focus on the regulation of Web3 technology increases, and its application to what the market is calling ‘Finance 3.0’ grows in complexity, speculation has increased exponentially. In recent weeks, figures from the Reserve Bank of Australia and a consultation paper from Treasury have started to provide details to industry bodies on what regulatory frameworks could look like in Australia.
Dr. Andreas Furche, CEO of the Digital Finance Cooperative Research Centre (DFCRC), welcomed the new collaboration: "We welcome Redbelly as a member and partner of the DFCRC as we work together to push Australia to the forefront of digital finance. Together, we'll research tokenisation solutions that are good for businesses, customers, and the entire economy, while staying true to Australia's strong regulatory standards.”
Vincent Gramoli, CTO and founder of Redbelly, underscored the broader market implications: "This partnership is more than innovation; it's about unlocking access to over $100 trillion in global capital markets through compliant, democratised tokenisation solutions. It's a win for the industry and a leap forward for the Web3 ecosystem."
For a deeper dive into Redbelly's Compliant Asset Tokenization solution or to engage with the community, visit www.redbelly.network.
About Redbelly
Redbelly was born at the University of Sydney and CSIRO where Prof. Vincent Gramoli developed a fork-proof blockchain. Through a rigorous scientific development process, in partnership with CSIRO, Data61, University of Sydney and Block8, Redbelly Network was commercialised in 2021. Redbelly was built to provide certainty in the regulated asset world by offering known participants and real time monitoring. Every user in the Redbelly ecosystem is known and accountable.
Redbelly enables the adoption of blockchain technology for the tokenisation of real world, regulated assets because it is the best of both worlds – providing legally enforceable, regulated consumer protections while also being open, faster, and more efficient than other blockchains.
About DFCRC
The DFCRC is a 10-year, $180 million research program funded by industry partners, universities and the Australian Government, through the Cooperative Research Centres Program. The DFCRC’s mission is to bring together stakeholders in the finance industry, academia and regulatory sectors to develop and harness the opportunities arising from the next transformation of financial markets – the digitisation of assets that can be traded and exchanged directly and in real-time on digital platforms.
Contact details:
Redbelly Network | Alex Crompton | 0413 768 665
DFCRC | Sonia Patman | 0408 187 330