Our Thesis
The future of finance is tokenized.
Money is moving on-chain via stablecoins. They settle value instantly across jurisdictions, while offering protection from inflation, especially in emerging markets. In 2024 alone, stablecoin transaction volume exceeded Visa and Mastercard combined. At the same time, the market capitalization of RWAs are projected to reach $30 trillion by 2030, representing the next phase of on-chain finance.
The future of tokenized finance is embedded.
Today, the total market cap of RWAs is $30B. Scaling to $30T by 2030 will require tapping into liquidity that currently does not exist on-chain. A large part of this liquidity currently sits in user-facing apps, especially fintechs, e-commerce platforms and games. To access this liquidity, TBook proposes an embedded finance approach, whereby pathways to move capital on-chain and into yield-bearing RWAs are abstracted into the apps that people use every day, without any disruptions to UI/UX.
This is a new blueprint for banking.
Traditional companies and individual users can hold funds in inflation-resistant stablecoins, generate yield by allocating balances into yield-earning RWAs, and spend directly via crypto cards.
When delivered inside everyday apps, this functionality turns them into yield-earning USD accounts accessible to anyone. This is neo-banking-as-a-service.
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