Latest news with #SolomonTesfaye
Crypto Insight
2 days ago
- Business
- Crypto Insight
Boom in RWA tokenization expected after passing of GENIUS Act — Aptos exec
Real-world asset (RWA) tokenization is rapidly emerging as one of Wall Street's most promising innovations, and with the recent passage of pro-industry legislation, particularly the US GENIUS Act, growth in the sector is poised to accelerate, according to Aptos Labs' newly appointed chief business officer, Solomon Tesfaye. In a conversation with Cointelegraph ahead of the landmark passage of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, Tesfaye emphasized the legislation's appeal to institutional players increasingly signaling intent to enter the crypto space. 'We're seeing more open dialogue between policymakers and Web3 leaders that is shaping legislation and giving institutions more confidence to commit to longer digital asset roadmaps,' Tesfaye said. 'More specifically, the GENIUS Act is one of the strongest signals that Congress is ready to support responsible blockchain innovation.' Following some political holdouts during the Republicans' 'crypto week,' the US House of Representatives passed the GENIUS Act, along with two other crypto-related bills, last Thursday. The legislation, which establishes a regulatory framework for the $260 billion stablecoin market, was signed into law by US President Donald Trump on Friday. While stablecoins are often excluded from RWA industry metrics, many are backed by government bonds and other tangible assets, effectively classifying them as RWAs. Stablecoins are also widely regarded as a key on-ramp for tokenization's future growth, offering predictability, lower transaction costs, greater liquidity and a bridge between traditional finance and decentralized finance (DeFi). According to Tesfaye, a favorable regulatory environment in the US will be a major catalyst for the continued evolution and adoption of tokenized assets. RWA growth beyond private credit, US Treasury debt To date, much of the growth in tokenized assets has been concentrated in private credit and US Treasury debt. According to a recent report co-authored by RedStone, Gauntlet and private credit made up nearly 60% of the RWA market as of June, with tokenized US Treasurys comprising the second-largest segment at approximately 28%. 'The initial adoption of tokenization has been centered on bringing legacy financial assets onto modern digital rails, and treasuries and private credit are perfect starting points. Onchain, they settle faster, trade easier, and can easily be fractionalized,' said Tesfaye, adding: 'Looking ahead, it's not hard to imagine a future where RWAs expand into more complex asset classes like derivatives, IP or esoteric asset classes. As the financial infrastructure matures, it won't just be about access or efficiency. It will be centered on unlocking entirely new financial products and global participation.' Aptos is emerging as a hub for RWA activity. As Cointelegraph recently reported, the value of tokenized RWAs on the Aptos blockchain eclipsed $540 million in late June, led by issuers such as Berkeley Square of the PACT Consortium and BlackRock's BUIDL, which expanded to Aptos less than a year ago. Source:
Yahoo
11-07-2025
- Business
- Yahoo
Aptos' APT Jumps as Much as 9% as Crypto Markets Explode Higher
Aptos's APT gained as much as 9% in the last 24 hours as crypto markets surged higher. Strong support was established at $4.57 with high-volume confirmation during the bounce, according to CoinDesk Research's technical analysis model. Technical targets point to $5.20 from $4.57 base, the model showed, with resistance at the $5.03 level. Aptos Labs named Solomon Tesfaye as Chief Business Officer for institutional partnerships, the company said in a tweet on X on Thursday. The rally in Aptos came as the wider crypto market also rose, with the broader market gauge, the CoinDesk 20, recently up 7%. Bitcoin (BTC), the world's largest cryptocurrency, also hit a new high of $118, 739. In recent trading, APT was 8.5% higher over 24 hours, trading around $4.99. Technical Analysis: Strong support established at $4.57 with high-volume confirmation during bounce Resistance level identified at $5.03 where price reversed despite elevated volume Volume spikes exceeded 2.2 million and 3.7 million during key acceleration periods Measured move projects potential targets near $5.20 from $4.57 low Higher low at $4.89 established during consolidation phase Final hour volume exceeded 64,000 confirming bullish sentiment Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
10-07-2025
- Business
- Business Insider
Aptos Labs Expands Leadership with New Chief Business Officer
Palo Alto, United States, July 10th, 2025, Chainwire Former Head of Capital Markets Solomon Tesfaye to drive enterprise and institutional partnerships as Aptos hits new growth milestones Aptos Labs, a high-performance blockchain technology company focused on building and developing on the Aptos blockchain, announced today the appointment of Solomon Tesfaye as Chief Business Officer. He was previously Head of Capital Markets at the company. Tesfaye's appointment comes at a pivotal moment for Aptos. The Aptos network has surpassed $540 million in tokenized real-world assets. Institutional integrations have doubled since the start of 2025, and greater regulatory clarity in the US around tokenization of assets is expected to further accelerate adoption. Together, these developments mark a critical inflection point for institutional engagement.. Solomon brings a strong track record in capital markets, led Aptos' real world asset strategy and has played a key role in building relationships with major financial and technology firms, like Blackrock, Franklin Templeton, and Apollo. Over the past ten years, he has held senior roles at the intersection of investment banking, venture capital, and the tokenization of real-world assets, working across a broad range of asset classes globally. He initially joined Aptos Labs to lead its capital markets initiatives. Additionally, during his tenure, he built key relationships with asset managers seeking to launch Aptos-linked exchange-traded products in Europe, U.S. spot ETFs, and other crypto-linked products. In this new role, Solomon will focus on: Drive Aptos adoption and expansion globally through partnerships with institutions and other market participants within fintech, payments, trading, and asset management Shape Aptos's competitive positioning in the global blockchain ecosystem by navigating regulatory landscapes, leading strategic alliances, advancing business initiatives, and contributing to industry thought leadership Leading efforts to align product offerings with market demand and manage digital asset strategies for scalable business impact Identify and lead initiatives that open new markets and use cases 'Solomon has been critical in shaping our Global Trading Engine vision, and forging the partnerships that will help make it a reality,' said Avery Ching, Co-Founder and CEO at Aptos Labs. 'As CBO, he'll be key to scaling that work, bringing more institutions, markets, and real-world use cases onto Aptos as global web3 adoption continues to accelerate.' 'It's a privilege to take on this role at such a pivotal moment, as regulatory clarity and market momentum align. With the U.S. nearing the completion of frameworks for next-generation financial services, Aptos Labs is well-positioned to lead the shift to on-chain assets and help shape the infrastructure of tomorrow's global markets,' said Solomon Tesfaye, Chief Business Officer at Aptos Labs. 'I'm excited to forge the partnerships and integrations that institutions and other market participants need to fully harness Aptos' tokenization capabilities at scale.' About Aptos Aptos is a next-generation Layer 1 blockchain. Aptos' breakthrough technology, scalable infrastructure and user safeguards are designed to power the next generation of financial systems by offering unparalleled high throughput and low latency that can scale to billions of users. Aptos Labs is dedicated to creating network tooling and seamless usability for users of the Aptos network, a next-generation high-performance public Layer 1 blockchain. Aptos Labs is backed by top-flight investors including a16z, Katie Haun, Apollo Global Management Dragonfly, PayPal Ventures, and Franklin Templeton Investments, among others.
