Ex-Binance Exec Joins Hilbert for Tokenized Asset Platform
Former Binance Dealmaker to Advise Hilbert Group's Tokenized Fund Platform
Ryan Horn, known for securing partnerships at Binance including a deal with Cristiano Ronaldo, has joined the advisory board of Hilbert Group. Hilbert Group, a publicly listed digital asset manager based in Sweden, is developing Syntetika, an onchain platform for tokenized assets and funds. This move signals a further convergence of traditional finance and crypto.
Hilbert Group focuses on managing crypto-centric investment products for institutional and professional investors, employing algorithmic trading strategies and traditional asset management structures to the digital asset market.
Syntetika: Tokenizing Traditional Investment Strategies
Syntetika, currently under development, aims to issue and trade tokenized funds under regulatory oversight. The platform will incorporate Galactica’s zero-knowledge system for user verification without exposing personal data. This will provide investors with tokenized access to Hilbert Group’s investment strategies.
Hilbert CEO Barnali Biswal stated that Horn’s role is to “unite tokenized economies with tangible outcomes.”
Tokenization Race: TradFi vs. Crypto-Native Firms
With increased regulatory clarity in the US and Europe, both traditional finance (TradFi) and crypto-native companies are exploring asset tokenization. TradFi firms are venturing into Web3, while crypto companies are expanding into conventional markets by tokenizing securities.
TradFi Initiatives in Tokenization
- Goldman Sachs and BNY Mellon: Announced plans to offer tokenized money market funds with blockchain-based ownership tracking and 24/7 settlement.
- Spiko: Raised $22 million to expand access to tokenized money market funds in the US and EU.
- eToro: Plans to launch tokenized versions of 100 US stocks as ERC-20 tokens on Ethereum.
Crypto-Native Platforms Entering Traditional Markets
- Robinhood: Launched an Arbitrum-based blockchain platform offering tokenized US stocks and ETFs to European investors, facing legal scrutiny over ownership rights.
- Coinbase: Filed with the SEC to offer tokenized stock trading under regulated frameworks.
- Backed Finance: Enabled trading of over 60 tokenized US stocks on Kraken and Bybit via its xStocks platform.