Animoca Brands and ProvLabs jointly launch NUVA, a decentralized exchange for RWA tokens.

According to Cointelegraph on August 8, Animoca Brands and ProvLabs, developer of the Provenance Blockchain, jointly launched NUVA, a RWA trading platform. The NUVA marketplace will leverage the Provenance blockchain's existing RWA ecosystem, which currently holds approximately $15.7 billion worth of assets.

The first two tokenized products to be launched are from Figure Technologies: the US interest-bearing stablecoin YLDS and the fixed-rate home equity line of credit (HELOC). NUVA employs a "vault" structure to simplify investor participation. Holding nuYLDS or nuHELOC tokens earns returns on the corresponding underlying assets.

ProvLabs' CEO stated that this model enables on-chain trading of traditionally illiquid assets. Animoca's co-founder noted that the current RWA market is hampered by cross-chain fragmentation. NUVA aims to increase the accessibility of institutional-grade assets through a unified multi-chain ecosystem.