Hamilton Lane, a leading private‑markets investment manager, has partnered with OKX Ventures and STBL to launch a real‑world‑asset‑backed stablecoin on OKX’s X Layer, an Ethereum‑compatible Layer‑2 blockchain. The stablecoin will be backed by Hamilton Lane’s Senior Credit Opportunities Fund (SCOPE), an evergreen vehicle that invests in senior private credit. The fund’s assets will be tokenized through Securitize, a regulated platform that has experience issuing tokenized securities.
The new stablecoin will use a dual‑token architecture. One token represents the liquid settlement unit, while a second token captures the yield generated by the underlying private‑credit portfolio. This separation allows institutional investors to access fully‑invested private‑credit exposure with on‑chain liquidity while keeping the yield component compliant with evolving regulatory expectations for stablecoins.
STBL, a stablecoin and yield infrastructure provider, will supply the technology that powers the dual‑token system. “RWA markets are entering a new phase, where tokenization must deliver real utility, not just representation. STBL provides a purpose‑built architecture for RWA backed stablecoins combined with compliant yield management. Working with Hamilton Lane and OKX Ventures we are seeking to unlock deeper liquidity, yield management and efficient utility across onchain ecosystems,” said Dr. Avtar Sehra, Founder and CEO of STBL.
Securitize’s CEO Carlos Domingo added, “This structure shows how tokenization unlocks effective utility when it's paired with regulated issuance and programmable settlement.” The partnership also strengthens OKX’s ecosystem. “The collaboration strengthens the foundation for highly capital efficient RWA products across the network. Working with STBL and Hamilton Lane allows us to accelerate that mission and bring users a more mature RWA ecosystem,” said Jeff Ren, Founder of OKX Ventures.
The launch taps into a rapidly expanding market for regulated, RWA‑backed digital assets. Analysts note that the tokenization of private‑credit assets can unlock liquidity for traditionally illiquid investments and provide a new source of yield for institutional investors. By deploying the stablecoin on X Layer, the project leverages OKX’s high‑throughput, low‑cost infrastructure to support large‑scale, programmable financial products.
The partnership positions Hamilton Lane to capture demand for regulated digital assets, creating a new revenue stream and extending its data‑driven platform into the tokenization space. For OKX, the collaboration adds a high‑quality private‑credit feeder that can increase liquidity and adoption of X Layer, while STBL gains a high‑profile use case for its Money‑as‑a‑Service platform.
The dual‑token design also addresses regulatory scrutiny of yield‑bearing stablecoins by keeping the yield component separate from the settlement token, thereby aligning with emerging compliance frameworks that require clear separation of assets and income streams.
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