Crypto market maker GSR has partnered with regulated tokenized asset exchange DigiFT to launch secondary over-the-counter (OTC) trading for tokenized real-world assets (RWAs), providing accredited institutions with access to on-chain fund units during Asian market hours.

The move comes as the tokenized RWA sector reaches a milestone of $13.4 billion in total assets, according to DeFiLlama. Much of the growth has been driven by tokenized treasury products and gold-backed cryptocurrencies.

The new OTC service enables eligible institutional investors to trade tokenized fund units such as:

• Invesco’s US Senior Loan Strategy (iSNR)
• UBS’s USD Money Market Investment Fund (uMINT)
• Wellington’s Ultra Short Treasury On-Chain Fund (ULTRA)

These trades will be available seven days a week during Asia hours, offering enhanced flexibility for global institutional participants.

GSR will deliver systematic bid-ask pricing, while DigiFT’s platform will handle settlement, operating under regulatory frameworks in Singapore and Hong Kong.

The partnership aims to tackle a long-standing inefficiency in RWA markets: the reliance on delayed net asset value (NAV) pricing. By introducing live secondary market pricing, the initiative offers real-time price discovery, improved redemption processing for wallets, and better integration with decentralized finance (DeFi) protocols.

“Our price discovery capabilities and systematic infrastructure support a healthy secondary market to help this asset class mature,” said Aravind Srinivasan, Head of Systematic OTC Business at GSR.

All trades will settle on-chain, with GSR filling orders placed via DigiFT’s OTC desk and executing transfers of tokens and stablecoins through smart contracts. The companies also indicated plans to extend OTC liquidity to additional RWA tokens in the future.