According to CoinDesk, Tangible has rebranded to re.al after its stablecoin, USDR, experienced a liquidity crisis last year. The UK-based project is now focusing on two forms of redemption: a literal redemption of assets for holders of the sub-dollar stablecoin, and a metaphorical redemption of the project itself through a pivot to becoming a platform for other real-world assets (RWAs) to build on. The rebranded layer-2 blockchain, re.al, is expected to go live in two weeks and aims to offer a 'full stack' experience for issuing and trading tokenized real-world assets, according to CEO Jag Singh.
Re.al is built on the Arbitrum network, which is a layer-2 network that ties into the security of Ethereum but is faster and cheaper than the best-known smart contracts blockchain. Singh believes that a 'highly specialized' layer-2 network will likely win out in the race to tokenize and trade popular real-world assets like real estate, stocks, and commodities. The re.al blockchain's new governance token will pass revenue generated by projects building on the platform back to the token holders. The RWA market is projected to climb past $10 trillion by the end of the decade, and if permissionless trading advocates have their way, massive pieces of financial infrastructure will inevitably pivot on-chain.