The Tokenized Asset Coalition, or TAC, has introduced the Global Access Protocol, known as GAP, a framework designed to make tokenized securities composable within decentralized finance. TAC said the protocol was developed over the course of a year together with the Digital Securities Initiative, and that the process included multiple meetings with the U.S. Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Treasury Department. More details are set to be released next week. At the same time, TAC said it has added 12 new members: Ascend, Control, Cryptio, Digital Securities Initiative, the Enterprise Ethereum Alliance, Euler, Lava, OpenZeppelin, Overmatch Capital, Protocol Wealth, Reserve, and T-RIZE. Foresight News had previously reported that TAC was launched in September 2023 by Coinbase, Circle, Aave and others. Other members named at the time included Base, Centrifuge, Credix, Goldfinch, and RWA.xyz. The coalition’s stated goal is to advance RWA tokenization, educate the industry, promote standardization, and help build the infrastructure needed for broader adoption.
The Tokenized Asset Coalition (TAC) has launched the Global Access Protocol, or GAP, a framework aimed at enabling composability for tokenized securities in decentralized finance.
Built with the Digital Securities Initiative
TAC said GAP was developed jointly with the Digital Securities Initiative over the course of one year. During that process, the group held multiple meetings with the U.S. Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Treasury Department.
TAC said additional details about the protocol will be released next week.
12 new members join the coalition
The coalition also announced 12 new members: Ascend, Control, Cryptio, Digital Securities Initiative, Enterprise Ethereum Alliance, Euler, Lava, OpenZeppelin, Overmatch Capital, Protocol Wealth, Reserve, and T-RIZE.
Coalition launched in September 2023
Foresight News previously reported that TAC was launched in September 2023 by Coinbase, Circle, Aave, and others. Other members named at the time included Base, Centrifuge, Credix, Goldfinch, and RWA.xyz.
According to the earlier description, the coalition was formed to advance real-world asset, or RWA, tokenization, help educate the industry, promote standardization, and jointly build the infrastructure needed for RWA adoption.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
