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Standard Power, a Blockchain Company, Explores Miniaturized Nuclear Reactors to Power Datacenters in Ohio and Pennsylvania

Datacenter provider Standard Power is set to power its Ohio and Pennsylvania datacenters with NuScale's miniaturized nuclear reactors, addressing the energy needs of blockchain mining and AI workloads.

Standard Power Plans to Fuel Datacenters with NuScale Miniature Nuclear Reactors

In a groundbreaking development, Switzerland’s prominent tokenization firm, Backed Finance, has unveiled its foray into the world of tokenized short-term US Treasury offerings on Coinbase’s Base blockchain. This landmark initiative marks the inaugural issuance of a real-world asset token within the Base network, which is also home to the innovative social tokenization platform, Friend.

The newly introduced bIB01 crypto token by Backed Finance represents a blockchain-infused iteration of BlackRock’s short-term US Treasuries exchange-traded fund (ETF). This innovative financial product has been meticulously crafted in adherence to Switzerland’s stringent tokenized securities regulations and is designed to offer investors an attractive 5.25% annual yield.

However, it’s important to note that participation in this offering is limited exclusively to accredited investors and authorized distributors who have successfully navigated the firm’s rigorous Know-Your-Customer (KYC) and Anti-Money Laundering (AML) examinations. Regrettably, U.S. investors and entities are excluded from this opportunity.

The captivating realm of real-world asset tokenization represents a transformative shift in the traditional financial landscape, encompassing instruments such as government bonds, private equity, and credit. These assets are being converted into tokenized forms for seamless integration into blockchain ecosystems, marking a significant financial trend of the year.

The allure of tokenizing traditional financial instruments has gained unprecedented traction within the cryptocurrency sphere in recent times. A report by Boston Consulting Group has projected a substantial surge in the tokenized assets market, potentially reaching an astonishing valuation of $16 trillion by 2030.

US Treasuries have emerged as a pivotal focal point for tokenization endeavors, attracting digital asset investors, fund managers, crypto enterprises, and decentralized autonomous organizations (DAOs) with their enticing combination of high-yield returns and low-risk attributes.

Notably, the domain of tokenized treasuries has witnessed a remarkable sixfold growth surge within the current year alone, propelling its valuation to an impressive $666 million. Leading this burgeoning market is the asset management giant Franklin Templeton, which has played a significant role in its expansion.

Backed Finance’s groundbreaking venture underscores the immense potential inherent in the fusion of blockchain technology with traditional financial instruments. Furthermore, it establishes a robust precedent for other market participants eyeing the promising avenue of tokenization.

In conclusion, Backed Finance’s pioneering entry into the tokenized US Treasury market on Coinbase’s Base blockchain signifies a significant step forward in the world of digital assets. It exemplifies the transformative power of blockchain technology in reshaping traditional finance and sets the stage for further innovation and growth within the tokenization landscape.