RACE is the first full-stack modular blockchain infrastructure for tokenizing and distributing real-world assets. The company recently announced the mainnet launch of its Layer 2 (L2) blockchain built on Optimism’s OP Stack. Pulse 2.0 interviewed RACE Lead Financial Engineer and Optimism spokesperson Miguel Buffara to learn more about the company.
Miguel Buffara’s Background
What is Miguel Buffara’s background? Buffara said:
“My journey into finance began with a civil engineering degree from PUC in Rio de Janeiro, where I initially focused on structural projects. But as I progressed in my studies, I became increasingly fascinated by the world of finance, which eventually led me to a position as a credit research analyst at a traditional financial institution in Rio.”
“In that role, I applied rigorous technical standards to evaluate data and assess credit risks, an experience that laid the foundation for my current work.”
“Today, as a Lead Financial Engineer at RACE, I’m blending my technical background with financial expertise to explore new frontiers in blockchain technology. Here at RACE, we’re developing innovative ways to apply blockchain to the financial world, which will help make the whole system more dynamic and efficient in the future.”
Formation Of RACE
How did the idea for the company come together? Buffara shared:
“The RACE Ecosystem is built on several key pillars, including a wallet for asset distribution, a permissionless tokenization infrastructure for onboarding assets, and the blockchain network itself. My experience working with high-net-worth individuals has given me a deep understanding of their needs and concerns, and we wanted to design and build a distribution system that makes on-chain investments both accessible and secure for non-crypto natives.”
“We aim to create a wallet infrastructure that is user-friendly, enabling these individuals to easily enter the on-chain environment. I also collaborate closely with the tokenization and blockchain teams to ensure that all aspects of the ecosystem are seamlessly integrated, allowing for efficient and smooth communication across all components.”
Favorite Memory
What has been your favorite memory working for the company so far? Buffara reflected:
“I think it would be the moment when we successfully launched our blockchain and tokenized our first asset. That was the culmination of countless hours of hard work, collaboration, and innovation. Seeing the chain go live and witnessing our first asset being actively traded in the market was incredibly rewarding. It was a powerful reminder of the reason we created this project — bringing innovative financial solutions to life and making on-chain investments accessible to a wider audience.”
Core Products
What are the company’s core products and features? Buffara explained:
“RACE is the first full-stack, modular Layer-2 blockchain infrastructure platform designed specifically for tokenization and real-world asset digitization. We aim to make buying, selling, and investing in assets effortless and efficient, particularly those assets that were previously illiquid. Through our automated and decentralized asset digitization platform, RACE securely links real-world asset provenance to NFTs and other ERCs.”
“As core products, RACE is bringing high-value assets such as aircraft, real estate, art, luxury goods, and private equity on-chain.”
Significant Milestones
What have been some of the company’s most significant milestones? Buffara cited:
“We successfully launched our mainnet in July 2024, built on Optimism’s OP Stack. The journey to this point has been incredibly exciting. In an early 2024 funding round, we successfully raised $5 million in a funding round, which was a strong vote of confidence from investors in our vision and technology. This funding allowed us to accelerate our development, along with recent partnerships with Bridge.xyz and DFNS. With our mainnet now live and these partnerships in place, we’re well-positioned to make high-value asset tokenization more accessible and efficient for investors worldwide.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Buffara assessed:
“Our company is targeting a vast and diverse total addressable market (TAM) within the global tokenization landscape. The primary focus areas include:
— Global Real Estate: The largest opportunity, with a TAM of $380 trillion. This market represents a significant opportunity to digitize and bring real estate assets onto the blockchain, making them more accessible and liquid.
— Stock Market: With a TAM of $106 trillion, tokenizing stocks can revolutionize how securities are traded, providing greater efficiency and potentially lower costs.
— Debt Market: Representing a $100 trillion TAM, the debt market offers enormous potential for tokenization, allowing for more transparent and accessible debt instruments.
— Gold: This $16.1 trillion market presents an opportunity to tokenize physical assets like gold, offering a more secure and easily transferable form of investment.
— Insurance: With a TAM of $7 trillion, tokenizing insurance could lead to innovative products and more efficient risk management.
— Global Trade: Representing a $31 trillion TAM, the tokenization of global trade could streamline operations, reduce costs, and enhance transparency.
— Other Markets: There are additional opportunities across various sectors, albeit smaller, collectively representing a TAM of $1 trillion.
In total, these markets present a combined TAM of over $641 trillion, highlighting the immense potential for growth and innovation within the tokenization sector. Our goal is to tap into these markets, leveraging blockchain technology to unlock new opportunities and efficiencies across multiple asset classes.”
Differentiation From The Competition
What differentiates the company from its competition? Buffara pointed out:
“RACE offers an end-to-end solution that makes tokenizing and engaging with crypto easier than ever. Our ecosystem seamlessly integrates every step of the investment journey, from distribution and wallet management to blockchain technology and tokenization.”
“We’ve partnered with DFNS to create a non-custodial, ‘keyless’ wallet system, simplifying digital asset management. Our scalable on-ramping solution reduces the typical four-step process to a single step, making it more efficient for everyone.”
“RACE also stands out with our Decentralized Investment Committee (DIC), composed of experts in law, finance, and regulation, who ensure rigorous due diligence and compliance for every tokenization. This builds trust among investors and asset owners, setting us apart from the competition.”
Future Company Goals
What are some of the company’s future company goals? Buffara concluded:
“RACE is looking forward to expanding its offerings in a broader range of tokenized asset classes.”
“We are also introducing advanced tools for asset management and discovery, empowering users to manage their investments efficiently and uncover new opportunities within the RACE ecosystem.”
“Looking ahead, we are also exploring strategic partnerships that will further our mission of accessing high-value assets. These collaborations aim to enhance the platform’s functionality and user experience, making it even more accessible to a global investor audience.”
