OKX Ventures announced its alliance and strategic investment with STBL, as well as Hamilton Lane and Securitize, with the goal of launching its own stablecoin backed by RWA on X Layer.
OKX Ventures announced its partnership with STBL, and the participation of Hamilton Lane and Securitize, to create a stablecoin, bridging the gap between institutional private lending and on-chain infrastructure.
The project revolves around STBL’s dual-token architecture and the creation of a tokenized feeder fund designed to channel institutional capital into the blockchain. Essentially, it’s a model that combines real-world assets with programmable settlement on an Ethereum-compatible network.
STBL acts as the protocol architect and operator of the dual-token model. Hamilton Lane contributes the institutional private lending component through a feeder fund that invests in its Senior Credit Opportunities Fund (SCOPE). Securitize handles the issuance and regulated management of the tokenized feeder fund, while OKX Ventures participates as a strategic investor and deployment partner in X Layer, OKX’s Ethereum-compatible Layer 2 solution.
The operational logic aims to move traditionally illiquid institutional assets to the on-chain environment within a regulated framework. In this way, private credit becomes tokenized collateral that can interact with decentralized applications.
Regulatory design and obstacles for OKX Ventures
The agreement adopts a dual-token design that explicitly separates the settlement function from yield generation. Instead of distributing returns directly to stablecoin holders, the returns accumulate in the collateral layer.
On the other hand, project leaders emphasized that the model aims to offer verifiable, institutional-grade backing while maintaining composability within the DeFi ecosystem on X Layer.
Instead of a traditional fiat reserve system, the stablecoin is presented as a unit of account backed by tokenized real-world assets, introducing a distinct narrative compared to classic models anchored solely to cash deposits.
If the implementation follows these guidelines, it could attract institutional capital interested in tokenized exposure to private credit under regulated issuance and on-chain settlement. However, it also raises questions about secondary liquidity, asset valuation, and operational transparency.
Finally, STBL plans to introduce an Ecosystem Specific Stablecoin (ESS) on X Layer using this dual-token architecture. Market participants will need to closely observe how the tokenized feeder fund performs in practice and whether the separation between yield and unit of account withstands regulatory scrutiny and operational audits.
