Chintai’s RWA Client Pipeline
Chintai’s CEO announced dozens of institutional clients have on-boarded Chintai’s Real World Asset (#RWA) issuance pipeline, focusing on renewable energy, real estate, carbon credits, funds and bonds. The pace of signed agreements is accelerating:
I literally can’t keep pace with the number of new RWA clients we’re signing up. Woke up to a new one in Asia, first question was “great.. who are they?” . . . The pace is accelerating, and our licenses seem to consistently be a key factor in why.
This isn’t surprising since Chintai Network is built to satisfy a diverse set of real-world institutional client requirements that emphasize regulatory compliance. The result is a comprehensive and compliant platform for one-stop RWA issuance, trading and custodianship, flexibly designed to tokenize any asset class.
It’s certainly a challenge pinning down Chintai’s current roster of clients. Few have issued a press release thus far. Understandably, client information is kept private for several reasons. Clients often do not wish to publicize what they are planning/building. Also, Chintai likely wants to avoid exposing clients to poachers. All of this leads to a desire for confidentiality and non-disclosure agreements.
Nevertheless, there are several ways to sleuth. Besides official press releases, there have been public announcements by Chintai officers on Telegram and X/Twitter, conferences and in-person “Lunch and Learn” VIP events held by Chintai over the past few years in Singapore and Hong Kong. Attendees have provided photos, tweets and brochures from these events. Chintai founders have also participated in several public live-streams recorded on X/Twitter Spaces and YouTube.
Pipeline Sneak Peek
Based on available public sources noted above, here is a partial glimpse into the Chintai client pipeline. David Packham, Chintai CEO, announced dozens of institutional clients have joined Chintai’s pipeline for RWA issuance and trading, focusing on renewable energy, real estate, carbon credits, funds and bonds, with the pace of new agreements accelerating:
I literally can’t keep pace with the number of new RWA clients we’re signing up. Woke up to a new one [client] in Asia, first question was “great.. who are they?” . . . The pace is accelerating, and our licenses seem to consistently be a key factor in why.
On May 16th, 2024, Chintai’s CEO noted:
The next few months are exciting for us as we launch [CHEX] staking, announce significant client issuances, and unveil major partnerships.
Here is a sample of publicly confirmed RWA client agreements, noting that most clients have NDAs in place:
- Greenium/X (Carbon Credits): First Biochar carbon credit issuance took place on 26-Mar-2024, fully distributed less than a week later
- Net Zero-X (Renewable Energy Exchange): Launched an exchange on 9-July-2024 with an announcement of 60 immediate green projects looking for capital, up to 500 prospects over the next five years, $10 billion in impact capital over ten years
- DNZ Venture Global (Real-Estate, Carbon Credits)
- BTC Space (Commercial Real-Estate in Phuket)
- Botanica Luxury Villas (Residential Real-Estate in Phuket)
- CAC-H2 Pte Ltd (Sustainable Hydrogen)
- Raffles Family Office (Securities/Funds)
- Revo Digital Family Office (Securities/Funds)
- Kabinburi Industrial Zone (Net-Zero Industrial Zone)
- SDAX is a confirmed white-label client (Securities/Funds, white-labeled)
- Bricklet (Real-Estate)
- Unnamed NDA with a $90B sovereign wealth fund in UAE to issue security tokens for a $200 million oil bond
- Potential agreement with Meld Energy (Sustainable Hydrogen)
- Potential agreement with GX Labs (Biofuel for aviation industry)
There are multiple additional signed NDAs with undisclosed clients, including fund management companies using private Automated Market Makers (AMM) in Chintai’s regulated exchange for LP of wealth funds with on-chain fund record keeping.
Pipeline Projection
For the past five years, Chintai has collaborated with some of the world’s largest financial institutions. To be clear, collaborate means public confirmation that discussions have been held; partner means public confirmation that an agreement has been reached to work together; client means an RWA tokenization agreement is in place.
Chintai’s Chief Growth Officer confirmed early stage RWA collaboration with JP Morgan Chase. David Packham, Chintai CEO, confirmed RWA collaboration with Blackrock, Vanguard, SS&C and Northern Trust during a recent Benzinga interview, as discussed beginning at time point 1:23:07. Packham discussed Blackrock collaboration during the Benzinga interview at time point 1:08:50. The entire Benzinga stream is an excellent resource and well worth the time.
Chintai recently restated its partnerships with Ernst & Young, DBS and Passion Venture Capital.
David Packham announced a partnership with Coinbase to distribute RWA issued by Chintai to Coinbase accredited and institutional customers on Base:
David Packham also confirmed a joint marketing partnership with Ernst & Young, with ongoing joint VIP sessions in Singapore, plus collaboration with several sovereign funds, exchanges, private banks and asset managers, dozens operating under non-disclosure agreements.
There is also ongoing RWA collaboration with sovereign funds, exchanges, private banks and wealth managers including:
- Schroders
- HSBC
- PhillipCapital
- LGT Private Banking
- UBP — Union Bancaire Privée
- Standard Chartered
- Azimut Group
- Temasek
- Northern Trust
On May 16th, 2024, Chintai’s CEO noted:
The next few months are exciting for us as we launch [CHEX] staking, announce significant client issuances, and unveil major partnerships.
Chintai anticipates $2 billion in assets issued on-chain by the end of Q1, 2025.
RWA Marketplace Projection
The projected RWA market is expected to grow rapily. Chintai’s business model is influenced by MAS regulations to legally service the entire projected $28.7 trillion RWA market by 2030, Ernst & Young-Parthenon, Sept. 2023:
Chintai’s blockchain-as-a-service (BaaS) architecture emphasizes reusability, flexibility and white label services to deliver strong economies of scale as demand for #RWA continues to rise; the platform is designed to handle heavy growth while maintaining reasonable operating costs.
The projection is based on a very similar curve provided by Chintai in a presentation from 2023. The author has updated the projection slightly based on additional information provided after their presentation, assuming nine clients issuing twice during 2024, with exponential issuance growth in outer years; operating costs are based primarily on funding raised from seed and second investment rounds.
More About Chintai
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