Remora Markets Launches Tokenized RWAs on Solana

- Remora Markets is the rebranded name for Moose Capital, a startup acquired by the Solana data analytics platform Step Finance in December 2024; the deal included the startup's team and regulatory licenses. - The platform operates on a 1:1 asset-backing model where users who complete the required KYC process can mint or burn the SPL tokens. - Once a stock is tokenized, it can be freely traded on-chain, including on decentralized exchanges like Raydium and Jupiter. - Beyond stocks and precious metals, Remora has also launched RWA tokens for industrial metals, including platinum, palladium, and copper. - This launch introduces new competition into a Solana RWA scene that includes established players like Backed Finance, which issues "xStocks" available on exchanges like Kraken. - The tokens are built on the SPL standard, which has been upgraded with "Token Extensions" (Token-2022) to better support RWAs through features like transfer hooks for enforcing compliance. - At the time of similar launches, the total value of tokenized assets on Solana was nearly $500 million, representing just under 4% of the total RWA market, which is dominated by Ethereum. - Initial liquidity for the new tokenized stocks is being provided through a partnership with the DeFi platform Tuna.