Securitize is launching a stablecoin backed by tokenized private credit assets in collaboration with Hamilton Lane, OKX Ventures and stablecoin infrastructure provider STBL, deepening efforts to bring institutional real-world asset (RWA) yield onto blockchain rails.
The initiative brings together Securitize, STBL, Nasdaq-listed private markets investment manager Hamilton Lane and OKX Ventures, the investment arm of crypto exchange OKX, to support the rollout of a new RWA-backed stablecoin on OKX’s X Layer network.
According to Securitize, the project combines institutional private credit exposure, regulated tokenization and programmable settlement infrastructure to power what it described as the “next generation of onchain financial infrastructure,” the company said in a Thursday post on X.
The ecosystem-focused stablecoin will be issued on X Layer and backed by tokenized exposure to Hamilton Lane’s Senior Credit Opportunities Fund through a feeder structure arranged by Securitize.
To address growing regulatory scrutiny in the United States over yield-bearing stablecoins, the product will adopt a dual-token design that separates yield generation from the stable unit itself.
STBL described the launch as a “definitive leap forward” in bridging institutional private markets with onchain finance in a statement posted Thursday.
“This initiative brings deep liquidity, programmable settlement, and compliant yield management to the X Layer ecosystem, setting a new standard for how capital flows onchain.”
STBL Structure Designed to Address US Regulatory Scrutiny
Securitize said the stablecoin’s framework is built to pair regulated tokenized private credit with programmable settlement infrastructure, while clearly separating the stable token from the yield-generating assets beneath it.
Under this structure, returns accumulate at the collateral level rather than being distributed directly to stablecoin holders. In a statement, STBL said the approach is designed to align with evolving regulatory expectations that draw a distinction between stable payment instruments and investment products.
Although the underlying real-world assets generate yield in the background, the new stablecoin model is structured to keep the token itself separate from those returns in an effort to avoid heightened regulatory scrutiny surrounding yield-bearing stablecoins, STBL said in a Jan. 14 post on X.
The stablecoin’s design follows the introduction of a US market structure bill that includes provisions aimed at prohibiting passive yield on stablecoin holdings.
To address this, the ESS stablecoin framework employs a dual-token model that channels returns from the underlying real-world assets through a separate token. This structure is intended to prevent the ESS stablecoin itself from being classified as a yield-bearing instrument.
Securitize is currently the largest tokenization platform, with more than $4 billion in tokenized assets. The company is backed by major financial institutions, including BlackRock, the world’s largest asset manager, and investment bank Morgan Stanley.
