NUVA, a new marketplace developed by Animoca Brands and Nuva Labs, has launched to bridge roughly $19 billion in tokenized real-world assets from Figure Technologies’ Provenance blockchain to Ethereum. The assets include private credit and Treasury-linked products issued by Figure, the blockchain firm founded by former SoFi CEO Mike Cagney.
Flagship Products: nvYLDS and nvPRIME
NUVA debuts with two offerings: nvYLDS, a Treasury yield vault tied to Figure’s SEC-regulated stablecoin YLDS (supply over $500 million), offering money market yield; and nvPRIME, a token representing Figure’s $18.4 billion portfolio of home equity lines of credit (HELOCs), currently yielding over 7% — a return typically limited to institutional and accredited investors.
From Closed Networks to DeFi Composability
Users deposit stablecoins into NUVA vaults and receive ERC-20 tokens representing ownership in the underlying assets. These tokens can then be traded, lent, or posted as collateral across Ethereum-based DeFi protocols. Anthony Moro, CEO of Nuva Labs and a former BNY executive, said the platform aims to create “a unified global distribution layer for blockchain-native assets,” rather than wrapping traditional products.
Moro criticized existing tokenization models for relying too heavily on offchain infrastructure and manual reconciliation. “The way to tokenize assets isn’t a digital twin,” he said. “The Figure loan itself is digitally native. There’s no filing cabinet somewhere keeping the real record.” He added that cheaper, faster, and safer rails will ultimately win, bringing all financial assets onchain.
Scale and Expansion Plans
Figure has become one of the largest issuers of blockchain-based private credit through the Provenance network. Moro said NUVA’s long-term vision includes onboarding assets from multiple issuers and expanding to blockchains beyond Ethereum. Tokenized RWA is one of crypto’s fastest-growing sectors; industry forecasts project the market could reach trillions of dollars over the next decade.