Undervalued altcoins with big partners….that is
what we are looking into today. There are always opportunities like this during a bull run, and
if you can spot them before the market catches on…get ready to make some bankity bank. Our
eyes are sharp, we are ready to find those altcoins with enterprise partners. Are you
ready…because it’s time for Chico Crypto!! Trying to find the partners of the
BIG announcements of crypto isn’t easy unless you are specifically told those
partners in a pre
ss release…you have to dig, you have to sift through information… I’ve been covering Blackrock and Securitizes
tokenized fund consistently over the past week since it was announced because it’s
lit a fire under a sector I’ve been bullish on for years. RWAs ... .and
I really want to go deeper into this… Yesterday I found Ondo Finance is likely
involved with this as they are direct partners of Blackrock, then last week I found
Centrifuge could also be involved as they are direct partners of S
ecuritize whose goal together
was to connect tokenized securities to DeFi… Well I’m not done, I’m almost certain I’ve found another crypto connected to this….so
let’s begin that Chico deep dive…. Checking out the Coindesk article
on the Blackrock tokenized fund, we can see the article says “Observers
pointed to blockchain data showing $100 million of Circle's USDC stablecoin on the
Ethereum network was moved to an address related to a Securitize deployer, which could
potentially be a seed
investment into the fund” USDC is highly important, as USDC
is being used as the funds currency, it’s the stablecoin that will seed the fund,
investors will use to invest in the fund, and used as the rails to cash out of the fund. This is not only confirmed by the seed deposit,
but also by this Coinbase Institutional tweet. They tweeted “We are excited to announce
that Coinbase has been chosen as a key infrastructure provider for BlackRock and
Securitize Tokenized Investment Fund.” Coinbase
institutional is the key
infrastructure provider…if you didn’t know, one of the institutional solutions from
Coinbase is their USDC stablecoin,... Why is this USDC so important??
Well if you didn’t know…Coinbase is one of the creators of USDC,
the other is the company Circle… So to make these connections we need to uncover
another crypto technology besides Centrifuge, that Securitize has been utulizing for
their own tokenization efforts. Last year, Securitize announced a tokenized product
of
theirs, Hamilton Lane’s Direct Equity Fund went multichain…they opened investment and trading
of the fund on the Ethereum Layer 2 Polygon Securitize is obviously bullish on going
multichain, I wouldn’t doubt…the Blackrock Tokenized fund will also be multichain, as
Ethereum mainchain fees are too high, giving the investors the opportunity to invest & trade with
lower fees on Ethereum EVM chains and Layer 2’s Now that we understand, Securitize is
going multichain which likely means Black
rock’s fund will to…we need to get
back to the stablecoin of the fund USDC…. Well guess who has the technology to make
the USDC stablecoin go multichain?? Circle does called the Circle -Cross Chain Transfer
protocol that “is a permissionless on-chain utility that facilitates USDC transfers
securely between blockchains via native burning and minting.” and of course
one of those blockchains is Polygon… Although…guess who helped
Circle develop this technology, giving USDC the ability to go
m
ultichain?? Well if you didn’t know, Circle announced their cross chain protocol
all the way back in September of 2022 Well shortly after their own announcement, Circle
announced the partners of this cross chain system, which would enable it to function
seamlessly. In October of 2022, Circle released this blog “Composable
USDC: Seamless UX in the Multi-Chain World” and the article states “Circle has
announced the Cross-Chain Transfer Protocol, and Axelar adds General Message Passing to
Cir
cle's protocol. Together, Axelar and Circle plan to enable composable USDC: developers
compose one-click, Multi-Chain experiences, incorporating native USDC and function
calls to any dApp on any connected chain. It continues “Together, CCTP and GMP allow
developers to pass payloads atomically with native cross-chain USDC transfers. This makes
it possible to create cross-chain dApps that are totally seamless and universal, bringing USDC and
users into every supported ecosystem. Users will be
able to issue a single transaction with a GMP
payload, and on the backend, the application takes care of the bridging and any other action
that the user indicated in the payload.” Obviously, GMP from Axelar is critical
to the function of Circle’s Cross chain protocol…it’s a key component ... .but how
would Axelar connect back to Blackrock? Well as we know, Ondo Finance is highly
likely connected to Blackrock with many people like myself theorizing they
are involved with the tokenized fund
…. Well guess who is utilizing Axelar’s
GMP and Circle’s CCTP? Of course Ondo is announced in November of last year…the
release title reads “Ondo Finance and Axelar Integrate for Cross-Chain
Tokenized Secure Notes. Taking native stablecoins and RWAs cross-chain with
a solution inspired by Circle's CCTP” Yup Ondo created a bridge for their RWA Assets,
and as we can see from the documentation on the ONDO bridge they say “Our Bridge implementation
will rely on Axelar as the messaging layer… A
xelar seems to be a key component for Partners
of Blackrock’s tokenized fund…but let me tell you, the Enterprise partners of Axelar
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questions answered. Links for everything below Now back to Axelar’s other
BIG enterprise partners…. Back in November of last year, besides Axelar
collaborating with Ondo, they made some big waves in the RWA Enterprise space. From this
business wire press release we can see i
t says “Axelar Inc., Oasis Pro and Provenance
Blockchain have collaborated with Onyx by J.P. Morgan and Apollo under the Monetary
Authority of Singapore’s Project Guardian” Axelar partnered with Jp Morgan, the
asset manager Apollo whose coming up on managing 1 trillion in assets, and the
Singapore government’s monetary authority!! Now…JP Morgan even has a full report on
this collaboration effort and on Pg. 19 we can see that Axelar is being used from cross
chain messaging and then lower do
wn on Pg.40 under implementation of proof of concept “To
enable cross-chain messaging, Axelar deployed smart contracts (known as gateways) on Onyx
Digital Assets and the Provenance Blockchain” But the partnerships with Axelar continue…they
have partnered with Microsoft in July of last year to develop Web 3 products with further
plans to connect public and private blockchains that use OpenAI services to create Web3
products and then just before this in April, Axelar was one of the 3 web3 com
panies to be
chose by Mastercard in their startpath program… With Axelar being out of the top 100 coins by
Marketcap, I see their involvement with big enterprise players as a major opportunity.
This is a coin I’m going to accumulate and HODL for a long time…they are not going
anywhere. Cheers I’ll see you next time…
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