Key facts
- Economist Nouriel Roubini has launched a tokenized asset called USAFi.
- USAFi is backed by the Atlas America Fund (NASDAQ: USAF), an ETF valued at approximately $17 million.
- The Atlas America Fund holds U.S. Treasuries, gold, and real estate investment trusts (REITs).
- The token is intended for investors outside the United States and will be regulated by Dubai's VARA.
- Securitize, a platform backed by BlackRock, is providing the tokenization infrastructure.
Economist Nouriel Roubini, widely known as "Dr. Doom" for his critical stance on cryptocurrencies, has launched a new tokenized asset named USAFi. This blockchain-based token is backed by the Atlas America Fund, a Nasdaq-listed exchange-traded fund that Roubini oversees. The fund's holdings include U.S. Treasuries, gold, and real estate investment trusts (REITs), aiming to provide a store of value for international investors, particularly in times of global crisis.
USAFi represents a significant move into the tokenization space, where traditional financial assets are represented on blockchain networks. Despite his long-standing skepticism towards cryptocurrencies like Bitcoin, Roubini distinguishes this initiative by emphasizing its backing by tangible, established assets and its operation under regulatory supervision. The token will be overseen by Dubai's Virtual Assets Regulatory Authority (VARA), with Securitize, a platform supported by BlackRock, providing the necessary tokenization infrastructure.
This launch reflects a broader trend within traditional finance, where institutions are increasingly exploring blockchain technology to enhance the distribution and settlement of investment products. Industry participants suggest that tokenized assets can improve market accessibility, streamline transactions, and broaden investor participation. Major financial players, including BlackRock and JPMorgan, are also actively expanding their efforts in the tokenization of real-world assets, signaling growing institutional interest in this evolving market.