ADI Chain has partnered with Shipfinex, a Dubai-based firm focused on ship tokenization, with plans to bring the roughly $680 billion ship finance market to a wider range of institutional capital through blockchain. Ramana Kumar, president of the stablecoin ecosystem at ADI Foundation, said maritime finance has the scale, physical assets and commercial activity to become a significant real-world asset class. The collaboration signals that tokenization is no longer limited to financial instruments such as government bonds; it is now reaching physical infrastructure like vessels. Shipfinex has identified around 35 ships with a total value of $500 million as candidates for tokenization. However, the company has only received preliminary regulatory approval from Dubai's VARA. It has not yet obtained a full operating license, and it has not issued any maritime asset tokens.