Fortunafi Update: New Partners, Products, & Procedures!

We've made BIG strides over the past few months, with plenty more to come too. Here's what we've accomplished and what's ahead!

As we look to close out the year on a positive note, we’re excited to finally share with the world what we’ve been up to and what’s coming!

Those who have been following the crypto market will know that while 2023 was much of a sideways grind and crab walk, many market participants have been keeping their eyes on the Real World Assets (RWA) sector and largely expect RWA to be a key theme of the next crypto bull market. The sector has caught the market's attention amidst, amongst other things, crypto-natives building and shipping products left and right.

Despite largely unfavorable market conditions, the ecosystem has continued to relentlessly push towards bringing tokenized assets onchain, Fortunafi included. But while we expect to make a massive splash in the RWA sector in the month(s) and quarter(s) to come, we've recently announced several head-turning product, partnership, and procedural announcements - all of which are setting us up for some of the industry's biggest product rollouts. Here's a quick recap of our major announcement of the past month. 👇️

Major Product Announcement: fBILL & ifBILL

In late November 2023, we announced the forthcoming release of the world’s FIRST tokenized T-Bill for U.S. and non-U.S. users. Users of our Tokenized Asset Protocol (TAP) app will be able to purchase either fBILL or ifBILL, both of which consist of (i) direct purchases of U.S. Treasury Bills that have a remaining maturity under 12 months or (ii) investments in ETFs that invest in short-term U.S. Treasury Bills, including BIL, SGOV, and SHV.

With so many U.S.-based market participants having longed for access to tokenized U.S. treasuries, we're ecstatic about soon being able to offer the market access it never had before. This will be possible through two different tokens, fBILL and ifBILL; KYC'd U.S. investors will be issued fBILL, and non-U.S. users will mint an equivalent version of the fBILL token, ifBILL. Users can request to mint and/or redeem 24/7, and orders will be processed during U.S. market hours. fBILL and ifBILL will first be accessible on Canto, a premiere permissionless general-purpose blockchain running the Ethereum Virtual Machine (EVM).

Amongst all else, we’re excited to have announced fBILL and ifBILL, as the forthcoming release means that market participants no longer need to wait several business days to manage their exposure to U.S. t-bills. Furthermore, crypto natives can now access yields that far exceed the lending rate offered on some of the most popular DeFi protocols, such as Aave and Compound, for less risk. Lastly, the announcements mark the early innings of expanding our offering to many of the largest Layer-1 and Layer-2 blockchains in the coming months and quarters.

New Partnerships: Halborn, Quadrata, & Vivacity

As part of a broader effort to bring Real World Assets (RWA) onchain and unlock new markets for the world, we announced two major partnerships with key industry players that will help us achieve our mission. First and foremost, we announced that the Fortunafi TAP app completed & successfully passed a security audit by one of the industry’s best, Halborn Security. In other words, one of the industry’s premier smart contract auditors went through our app’s smart contract code to identify any potential vulnerabilities that could negatively impact the app and its users. A complete report of the audit can be found here.

On the other hand, we announced an official partnership with Quadrata, a Passport Network that brings the identity and compliance layer to DeFi across existing public blockchains. With our partnership with Quadrata, new Quadrata Passport users can complete KYC/AML to start the Fortunafi TAP app, while existing Quadrata Passport holders can get started immediately at launch. More information on Quadrata can be found here.

Lastly, on November 16, 2023, Vivacity, a Canto-based lending market for onchain institutional-grade RWA, announced that Fortunafi will be an exclusive partner enabling users to borrow $NOTE, an over-collateralized currency backed by stablecoins and RWAs, against a diverse set of RWA ranging from tokenized treasury bills. Said functionality is partly thanks to our forthcoming launch of tokenized U.S. treasury bills on Canto.

New Website:

Between the numerous key developments, we achieved this year and the plethora of forthcoming releases that will help the world realize the benefits of RWA, the Fortunafi website was due for a fresh coat of paint. Visitors of the brand new website will now be able to access a number of new pages that will help them better understand and access the future suite of Fortunafi products and navigate the industry. More specifically, the latest version of the Fortunafi website now allows visitors to:

  • Access the Tokenized Asset Protocol (TAP) Application (link)

  • Learn more about our current asset offerings (link)

  • Review the Fortunafi GitBook (link)

  • Consume proprietary Fortunafi Research created to help market participants navigate the RWA & Stablecoin sectors (link)

  • Check out the array of Fortunafi integrations (link)

So, What’s Ahead?

As previously mentioned, the aforementioned announcements are all part of a broader effort by Fortunafi to bring RWA onchain and unlock new markets and opportunities for market participants all around the globe. Accordingly, the forthcoming weeks and quarters will consist of Fortunafi launching new products and offerings across some of the largest Layer-1 and Layer-2 blockchains. Along the way, we expect to give additional insight to market participants regarding TAP adoption, what products other than tokenized securities we plan to support, additional key partnerships that’ll further help us achieve our goals, and opportunities to earn rewards.

If you want to work, partner, and/or collaborate with Fortunafi, please email us at [email protected]!

All The Best,

Disclaimer: The information contained herein is general information, intended for educational purposes only, and is not intended to constitute legal, tax, accounting, or investment advice. Information, opinions, and views are solely of Fortunafi and none of the information contained should be used as the basis for investment decisions. To ensure suitability, contact a licensed investment professional when making any investment decisions and do your own research.