On Feb. 12, OKX Ventures announced a strategic investment in STBL, a stablecoin and yield infrastructure provider. At the same time, STBL said it is partnering with Hamilton Lane (Nasdaq: HLNE) and Securitize to launch a real-world-asset-backed stablecoin on X Layer, OKX’s EVM-compatible Layer 2 blockchain. Hamilton Lane is a global private markets investment firm. Securitize provides regulated digital securities issuance and tokenization services. Related: Explained: What is a stablecoin? The capital ...

Core Insights - OKX Ventures has made a strategic investment in STBL, a next-generation stablecoin and yield infrastructure provider, and announced a partnership with Hamilton Lane and Securitize to launch a new real-world-asset-backed stablecoin on X Layer [2][4]. Company Overview - STBL is co-founded by Reeve Collins and Dr. Avtar Sehra, focusing on creating ecosystem-specific stablecoins (ESSs) that are backed by real-world assets (RWAs) [9][10]. - Hamilton Lane is a leading private markets investment firm with $1.0 trillion in assets under management, specializing in private markets investing for over 30 years [13]. - Securitize is a digital securities issuance and tokenization platform with over $4 billion in assets under management, recognized as a top fintech company [15]. Investment and Partnership Details - The investment from OKX Ventures aims to support STBL's mission to build Money-as-a-Service infrastructure, allowing ecosystems to issue their own branded stablecoins backed by RWAs [6]. - The collaboration seeks to integrate traditional market frameworks with blockchain ecosystems, enhancing regulated onchain financial products [4][6]. - STBL will introduce the first Ecosystem-Specific Stablecoin (ESS) on X Layer, utilizing a dual-token architecture to separate liquid settlement from yield generation [5][10]. Technological Framework - The asset framework for the new stablecoin includes a feeder fund to Hamilton Lane's Senior Credit Opportunities Fund (SCOPE), tokenized via Securitize [5]. - STBL's dual token architecture consists of USST, a fully collateralized, dollar-pegged base layer, and YLD, which represents the yield rights of the underlying reserves [10]. Market Implications - The collaboration is expected to unlock deeper liquidity and efficient utility across onchain ecosystems, emphasizing the need for tokenization to deliver real utility [6][10]. - The initiative aims to create scalable, regulated stablecoin issuance backed by tokenized real-world assets, enhancing the overall financial infrastructure [5][6].

Core Insights - OKX Ventures has made a strategic investment in STBL, a next-generation stablecoin and yield infrastructure provider, co-founded by Reeve Collins and Avtar Sehra [1] - STBL has announced a partnership with Hamilton Lane and Securitize to develop a stablecoin backed by real-world assets on OKX's Ethereum-compatible layer-2 blockchain X Layer [2] Group 1: Investment and Partnerships - The investment by OKX Ventures aims to enhance the development of a stablecoin that utilizes real-world assets [1] - STBL's partnership with Hamilton Lane involves a feeder fund to Hamilton Lane's Senior Credit Opportunities Fund, which will be tokenized via Securitize [2] Group 2: Tokenization and Utility - Avtar Sehra emphasized that RWA markets are evolving, and tokenization must provide real utility rather than mere representation [3] - The collaboration between STBL and Securitize highlights how tokenization can enhance asset utility when combined with regulated issuance and programmable settlement [3] Group 3: Functional Applications - Securitize CEO Carlos Domingo stated that embedding institutional private credit into on-chain money flows transforms tokenized assets into functional building blocks for various financial applications [4]

Core Viewpoint - Aviva Investors is partnering with Ripple to tokenize traditional fund structures on the XRP Ledger, marking its first venture into tokenization and aiming to integrate blockchain-based products into its offerings [1][2]. Group 1: Partnership Details - The collaboration will enable Ripple to assist Aviva Investors in issuing and managing tokenized funds on the XRPL, which is designed for payments and financial transactions [2]. - This partnership represents Ripple's first collaboration with a Europe-based investment manager, enhancing its efforts to bring regulated financial assets on-chain [2][4]. Group 2: Industry Trends - Asset managers are increasingly adopting tokenization to modernize fund infrastructure, utilizing digital tokens to represent shares in various funds, which offers benefits such as faster settlement, lower operational costs, and broader distribution [3]. - Major firms like BlackRock, Franklin Templeton, and Hamilton Lane have already launched tokenized products, indicating a shift from pilot projects to live, regulated offerings for institutional investors [4]. Group 3: Technological Advancements - The XRP Ledger has processed over 4 billion transactions and supports more than 7 million wallets, maintained by 120 independent validators without relying on energy-intensive mining [5]. - Aviva Investors believes that tokenization can enhance time and cost efficiency for investors, reflecting a commitment to adopting technological advancements for positive business change [5][6].

Core Viewpoint - Hamilton Lane reported strong growth in assets and fee-related results during its fiscal third-quarter 2026 earnings call, highlighting a strategic partnership with Guardian and the performance of its Evergreen platform. Financial Performance - The company declared a quarterly dividend of $0.54 per share, targeting $2.16 per share for fiscal year 2026, representing a planned 10% increase over the prior fiscal year [1] - GAAP EPS was $4.35 on $183 million of GAAP net income, while non-GAAP EPS was $4.41 on $240.1 million of adjusted net income [1] Asset Management - Hamilton Lane ended the quarter with a total asset footprint of over $1 trillion, up 6% year-over-year [2][6] - Assets under management (AUM) were $146 billion, an increase of $11 billion or 8%, driven by specialized funds and customized separate accounts [2] - Assets under advisement (AUA) totaled $871 billion, up $50 billion or 6%, attributed to market value growth and technology solutions [2] Growth Drivers - Fee-earning AUM rose to $79.1 billion, an increase of 11%, with specialized fund fee-earning AUM reaching $38.1 billion, up 22% [4][9] - The Evergreen platform surpassed $16 billion in AUM with over $1.2 billion of net inflows this quarter, contributing to a blended fee rate of 67 basis points [4][16] Strategic Partnership - The strategic partnership with Guardian has closed, with Hamilton Lane overseeing nearly $5 billion of Guardian's private equity portfolio and expecting approximately $500 million in annual commitments for at least 10 years [5][7] - Initial economic impacts from the partnership are expected in fiscal Q4 2026, with warrant dilution anticipated to be under 1% [8] Fundraising and Product Development - The firm expects first closes for its seventh secondary fund and second venture access product in the second calendar quarter of 2026 [12] - The sixth Equity Opportunities Fund raised nearly $300 million during the quarter, with a total exceeding $2.3 billion [13] - The second infrastructure fund raised nearly $2 billion, with over $1.5 billion committed to the fund [14] Market Outlook - Distribution activity is increasing as buyers and sellers approach price equilibrium, with expectations for a stronger exit environment in 2026 compared to 2025 [18] - The secondaries market is characterized as undercapitalized relative to transaction demand, indicating growth potential for Hamilton Lane [18] Technology Investment - Hamilton Lane made an investment in Pluto Financial Technologies, an AI-driven platform aimed at enhancing access to private market portfolios and providing liquidity solutions for investors [19]

Core Insights - Hamilton Lane reported strong financial performance with total management and advisory fees up 11% year over year, and fee-related revenue increased by 31% to $57 million, driven by growth in technology solutions and back-office mandates [1][31] - The company’s total asset footprint reached over $1 trillion, marking a 6% increase year over year, with assets under management (AUM) at $146 billion, reflecting an 8% growth [2] - The partnership with Guardian has officially closed, allowing Hamilton Lane to manage nearly $5 billion of Guardian's private equity portfolio and expect annual commitments of approximately $500 million for at least ten years [8][9] Financial Performance - Year-to-date GAAP EPS was $4.35 based on $183 million of GAAP net income, while non-GAAP EPS was $4.41 based on $240.1 million of adjusted net income [1] - Fee-earning AUM grew to $79.1 billion, an increase of $8.1 billion or 11% year over year, with net quarter-over-quarter growth of $2.7 billion or 4% [10] - The company declared a dividend of $0.54 per share, aiming for a 10% increase over the previous fiscal year [5] Growth Drivers - The Evergreen platform generated over $1.2 billion of net inflows for the quarter, with total Evergreen AUM reaching over $16 billion, representing over 70% year-over-year growth [21] - Specialized funds revenue increased by $35 million or 15% compared to the prior year, driven by the growth of the Evergreen platform [31] - Customized separate accounts fee-earning AUM stood at $41.1 billion, growing $1.3 billion or 3% over the last twelve months [24] Strategic Developments - The partnership with Guardian is expected to enhance Hamilton Lane's revenue through management fees and performance fees aligned with underlying strategies [37] - The company is focused on expanding its product offerings and enhancing distribution for its flagship strategies in both the US and international markets [22][41] - Hamilton Lane is actively investing in technology solutions, such as Pluto Financial Technologies, to improve access to private markets and enhance investor experience [27][28] Market Position - Hamilton Lane continues to be recognized as one of the best places to work in money management, achieving this recognition for the fourteenth consecutive year [7] - The company is positioned to capitalize on the growing demand for private market investments, with a diversified portfolio and a strong pipeline of mandates [25][26] - The firm is optimistic about the exit environment for 2026, anticipating stronger distribution activity as market conditions improve [45]

分组1 - Franklin Resources reported quarterly earnings of $0.7 per share, exceeding the Zacks Consensus Estimate of $0.55 per share, and showing an increase from $0.59 per share a year ago, resulting in an earnings surprise of +28.21% [1] - The company achieved revenues of $2.33 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 8.45%, and up from $2.25 billion year-over-year [2] - Franklin Resources has outperformed the S&P 500 with an 8.3% increase in share price since the beginning of the year, compared to the S&P 500's gain of 1.8% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.57 on revenues of $2.13 billion, and for the current fiscal year, it is $2.46 on revenues of $8.58 billion [7] - The Zacks Industry Rank for Financial - Investment Management is in the bottom 31% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Core Insights - In 2026, private wealth investors are expected to increase allocations to private market investments, driven by portfolio optimization [1][2] Private Markets Allocations - 86% of private wealth professionals plan to increase private market investments this year, with 97% currently allocating between 1-20% of their business to private markets [2] - The allocation breakdown includes Private Equity at 19%, Private Real Estate at 18%, Private Credit at 16%, Venture Capital & Growth at 16%, and Private Infrastructure at 15% [2] Client Interest Drivers - Performance and diversification are ranked as the top reasons for investing in private markets by advisors [3] Risk Perception - 83% of respondents do not view private markets as riskier than public markets, with many perceiving a similar risk/reward profile or a higher reward potential [4][8] Venture Capital Interest - Venture Capital & Growth is highlighted as a favored strategy for 2026, with 47% of respondents planning to increase allocations to this area [5][9] - More than half of the respondents indicated that Venture Capital & Growth resonates most with new, highly engaged investors [5] Education's Role - 81% of wealth professionals believe that client education significantly boosts interest in private markets, emphasizing the need to address knowledge gaps [9] Additional Findings - 46% of respondents plan to increase allocations to Infrastructure in 2026, closely following Venture Capital & Growth [9] - Hamilton Lane's Evergreen Platform manages $15 billion in assets under management, serving thousands of advisors [7]

Core Insights - Anchorage Digital has acquired the Securitize For Advisors (SFA) platform, enhancing its position in the crypto wealth management market for registered investment advisors (RIAs) [1] - The acquisition follows a significant growth in SFA's deposits and assets under management, which increased by over 4,500% in the past year [2] - Anchorage is expanding its regulated stablecoin and custody business while Securitize is refocusing on large-scale tokenization and public-market initiatives [1][6] Anchorage's Broader Institutional Strategy - The acquisition aligns with Anchorage's strategy to enhance its regulated stablecoin offerings and custody services, having recently added support for 25 additional digital assets [3] - Anchorage maintains a valuation above $3 billion and is building out its stablecoin operations and institutional DeFi access [4][5] - The firm is launching Anchorage Digital Ventures to target Bitcoin DeFi, real-world assets, and decentralized identity projects [4] Securitize's Strategic Refocus - Securitize is shifting its focus back to its core business of tokenizing real-world assets, reporting over $4 billion in tokenized assets under management [6] - The company is collaborating with major asset managers to issue tokenized funds and private credit products, including a recent partnership with Apollo [6] - Securitize has secured regulatory approval to operate a tokenized securities trading platform in the EU and plans to go public via a SPAC deal at a $1.25 billion valuation [7]

Core Insights - Mubadala Capital has partnered with Kaio to explore how digital rails can facilitate tokenized access to private market strategies [1][2] - The collaboration aims to test Kaio's framework for enabling institutional and accredited investors to access Mubadala's private market products onchain [2] - This initiative reflects a growing interest in RWA tokenization to modernize traditional fund structures that have high minimums and long lockup periods [2] Company Overview - Mubadala Capital manages over $430 billion across various sectors including private equity, credit, real estate, and alternative strategies [3] - It operates as a subsidiary of Mubadala Investment Company, a significant sovereign wealth fund in Abu Dhabi [3] Digital Asset Positioning - Mubadala's digital asset strategy has gained attention, with reports indicating that the Abu Dhabi Investment Council holds at least $500 million in BlackRock's spot Bitcoin ETF [4] - The co-heads of Mubadala Capital Solutions emphasized the goal of collaborating with regulatory-aligned infrastructure to broaden access to institutional-grade investment vehicles [4] Kaio's Role - Kaio has experience in structuring tokenized feeder funds for major firms like BlackRock and Brevan Howard, having moved over $200 million in institutional assets onchain [5] - The partnership with Mubadala highlights the momentum behind onchain investment products, as stated by Kaio's CEO [5] Market Trends - The collaboration places Mubadala among institutional players investigating the potential of tokenized mechanisms to reduce operational friction and enhance global participation [6] - CoinShares data indicates a significant increase in demand for RWAs, particularly tokenized US Treasurys, which rose from $3.9 billion to $8.6 billion this year, with expectations for continued growth into 2026 [6] Infrastructure Developments - The infrastructure supporting this shift is evolving, as evidenced by Polygon's recent deployment of a hard fork aimed at improving performance for high-frequency applications like stablecoins and tokenized RWAs [7] Summary of Initiatives - Mubadala Capital is actively exploring tokenized private market access in collaboration with Kaio, reflecting rising institutional interest in RWAs and the increasing momentum of tokenized assets as infrastructure improves [8]