Tenbin Labs said it has raised a $7 million seed round led by Galaxy Ventures, with participation from Wintermute Ventures, FalconX, GSR, Nascent, Variant, Archetype, Bankless Ventures and others, as it builds a tokenization protocol aimed at bringing deeper liquidity, faster settlement, and yield features to onchain representations of real world assets.
The company’s stated goal is to make tokenized assets “better than their offchain counterparts” by combining traditional market liquidity with DeFi composability. Tenbin said it is starting with gold, foreign exchange and commodities, positioning its protocol as a foundation for broader “onchain capital markets” adoption.
Tenbin framed the raise against rapid growth in real world asset tokenization over the past several years, citing expanding onchain issuance across treasuries, credit, gold and FX. The company also pointed to projections that tokenized assets could grow into the trillions of dollars by the end of the decade, with a meaningful share of institutional portfolios allocated to tokenized exposures.
Tenbin argues that many existing tokenized products remain structurally inferior to offchain equivalents because they primarily wrap assets without rebuilding the market plumbing that supports tight pricing, liquidity depth, and efficient settlement. The company said this has contributed to issues in tokenized gold, FX and commodities, including shallow liquidity, delayed settlement, and onchain price distortions that can reduce usefulness as collateral or as a store of value.
To address those constraints, Tenbin said it is connecting onchain assets to global derivatives infrastructure where it believes “real liquidity resides,” beginning with CME futures markets. The company said its architecture is designed to align pricing, liquidity and yield with the underlying real world markets, enabling tokenized exposures to inherit deeper liquidity onchain while also unlocking yield sourced from institutional carry alongside onchain stablecoin yield.
Tenbin said its structured exposure mechanism and dual onchain and offchain collateral architecture support rapid minting and redemption on the order of about 30 seconds, with zero mint and redemption fees under normal conditions. The company also said its assets are intended to remain fully liquid and composable across DeFi applications.
Tenbin said it plans to debut its first asset, a yield bearing tokenized gold product, in early 2026 through integrations with market makers and prime brokers including Hidden Road, Ripple Prime, and additional partners yet to be announced. After the initial launch, the company said it intends to expand into tokenized exposures for global FX currencies such as BRL, MXN and JPY, as well as a broader suite of commodities, metals and energy products.
KEY QUOTES
“Tokenization only works if onchain assets become more useful than their off-chain equivalents. Simply wrapping gold or FX onchain without rebuilding the underlying market structure creates assets that are slower, less liquid, and harder to use. Tenbin is the solution built to fix this broken structure,”
Yuki Yuminaga, Co-Founder & CEO, Tenbin Labs
“Our goal is simple, it is to make tokenized assets trade more efficiently, settle faster, and deliver utility that legacy off-chain assets cannot offer.”
Yuki Yuminaga, Co-Founder & CEO, Tenbin Labs
“What impressed us about Tenbin is their approach. They’re not wrapping assets, they’re rebuilding the entire issuance and liquidity stack for onchain markets. We believe Tenbin will play a foundational role in the evolution of onchain capital markets,”
Will Nuelle, General Partner, Galaxy Ventures
