Animoca Brands and Nuva Labs have officially launched NUVA on Ethereum, bridging a massive $19 billion pool of tokenized assets from Figure Technologies with decentralized finance markets. The platform, supported by Animoca Brands, allows both retail and institutional participants to interact with real-world asset products that were previously confined to Provenance Blockchain.
NUVA debuts with two primary offerings: a vault linked to Figure’s SEC-registered YLDS stablecoin and another tied to a portfolio of home equity lines of credit that has processed over $16 billion in funding. Figure Technologies, founded by former SoFi CEO Mike Cagney, is a leading issuer of blockchain-native private credit products. Cagney expressed excitement about NUVA’s launch, highlighting the leverage of Provenance Blockchain’s unique capabilities to expand DeFi.
Users can deposit stablecoins into NUVA vaults, receiving ERC-20 tokens that represent ownership in the underlying assets. These tokens can be traded, lent, or used as collateral across Ethereum-based protocols, effectively turning institutional credit into composable DeFi instruments. Anthony Moro, CEO of Nuva Labs and former BNY executive, noted that the platform fills a gap by providing a unified global distribution layer for blockchain-native assets, offering institutional-grade assets in a simple and composable format.
The launch comes amid rapid growth in tokenized real-world assets, with total onchain RWAs surpassing $12 billion by March 2026, more than doubling from $5 billion at the start of 2025. Ethereum hosts over 60% of that value. Animoca, which is pursuing a Nasdaq listing through a reverse acquisition of Currenc Group, positions NUVA as the commercial distribution layer for this RWA activity. Future plans include expanding to other blockchains and adding asset classes beyond Figure’s current offerings. Moro emphasized that cheaper, faster, and safer solutions will drive all financial assets onchain.