CEO Anthony Moro, a former executive at BNY, has overseen the launch of a new Ethereum-based marketplace through Nuva Labs, aimed at bridging a vast portfolio of tokenized real-world assets (RWAs) from the Provenance blockchain into the decentralized finance (DeFi) ecosystem. The platform, known as NUVA and developed with backing from Animoca Brands, connects institutional-grade assets—including home equity lines of credit (HELOCs) and government securities originating from Figure Technologies Solutions—to the Ethereum network. This move intends to move the sector beyond isolated financial silos to create a liquid distribution layer for a broader range of investors.
The integration targets a pool of private credit and government-backed securities that were previously limited to the Provenance network. By bringing these assets to Ethereum, NUVA allows users to interact with significant HELOC portfolios and Treasury-linked yield vaults. This development arrives as the market monitors how blockchain-native finance competes with traditional banking structures. While certain crypto market shifts dictate 2026 utility trends, the focus on RWAs represents a concrete application of blockchain technology to traditional credit markets.
The deal leverages infrastructure developed by Figure Technologies Solutions, a fintech firm founded by Mike Cagney. While Figure has established a presence in blockchain-based lending, its assets have functioned largely within its own ecosystem. NUVA acts as the bridge that transforms these institutional holdings into ERC-20 tokens, which can be used for trading, lending, or as collateral in various DeFi protocols.
Addressing the Infrastructure of Tokenized Private Credit
The NUVA platform features products designed to offer varying levels of risk and return. One primary offering, nvYLDS, is a Treasury-linked yield vault tied to a regulated stablecoin from Figure. This product functions similarly to a digital money market fund, providing a point of entry for those seeking government-backed yields on-chain. The availability of such assets on Ethereum highlights a shift toward merging traditional financial safety with decentralized accessibility.
A second product, nvPRIME, focuses on a higher yield profile tied to Figure’s extensive HELOC portfolio. Historically, access to these private credit markets was often reserved for accredited investors and major financial institutions. By tokenizing these loans, NUVA aims to provide wider access to the yields generated by residential mortgages, allowing users to participate in debt markets that were previously the domain of major banks.
The platform treats these assets as native digital records rather than mere digital twins or wrapped versions of paper certificates. Because the original loans were originated and recorded on the Provenance Blockchain, the digital record serves as the legal record. This structure is intended to reduce the manual reconciliation, time lags, and high fees typically associated with traditional asset management.
The Growth of Institutional Ethereum Protocols
To access these assets, users deposit stablecoins into NUVA vaults and receive ERC-20 tokens in return. This composability is the protocol’s primary value proposition. Once a user holds these tokens, they can potentially move them to other Ethereum protocols to seek additional yield or secure loans. However, the ultimate utility of the platform depends on the broader market’s willingness to accept these RWA tokens as high-quality collateral.
The timing is notable as Ether enters a rare accumulation phase, and investors are increasingly looking for sustainable, “real” yield rather than the inflationary rewards common in early DeFi projects. CEO Anthony Moro has argued that a unified distribution layer is an essential component for the industry, suggesting that without it, tokenized products remain trapped in closed networks with limited liquidity.
Regulatory Compliance and Institutional Standards
Bridging billions in assets requires a focused approach to global regulations. Figure Technologies has previously navigated regulatory hurdles for its yield-bearing products, and NUVA maintains this focus on compliance and oversight. The platform aims to provide a self-custodial experience that adheres to the necessary KYC and AML standards required for institutional-grade products, following a trend seen as the CFTC prepares for broader crypto market oversight.
Looking forward, Nuva Labs intends to expand its reach beyond the current Figure portfolio. The goal is to onboard multiple asset issuers and eventually support networks beyond Ethereum. The broader thesis remains that the efficiency of blockchain rails—offering faster and more transparent settlement—will eventually drive more financial assets on-chain.
As the infrastructure of the financial world is updated, the success of NUVA will likely serve as a test for the RWA narrative. If decentralized protocols embrace these tokenized assets, it could signal a significant migration of traditional wealth into the Ethereum ecosystem. For now, the focus remains on proving that private credit and mortgage debt can safely coexist with modern decentralized protocols.