web3: ADI Chain and Shipfinex Advance Ship Tokenization

CoinWorld reports:

Commercial vessels are becoming a new direction for the expansion of Real World Assets (RWA). ADI Chain has partnered with Shipfinex, headquartered in Dubai, to bring ship financing onto the blockchain network and settle transactions using stablecoins, opening this long-closed market to a broader range of institutional funds.

Targeting a $680 Billion Financing Market

Reports cite data indicating that the total value of global commercial vessel assets is approximately $2 trillion, with the ship financing market, composed of bank loans, leasing, and export credits, amounting to around $680 billion. Both parties aim to incorporate these tangible assets into an on-chain financing and settlement system.

Shipfinex is responsible for screening vessels, completing valuations, and designing legal structures and investment arrangements. ADI Chain will map transactions to on-chain tokens and handle payments using stablecoins pegged 1:1 to fiat currency, replacing traditional wire transfer processes.

Shipfinex Only Obtains Preliminary Approval

This collaboration is still in its early stages. No maritime asset tokens have been issued yet, and Shipfinex has not obtained a full operational license. The company has received preliminary approval from the Dubai Virtual Assets Regulatory Authority (VARA), which only represents a pass through initial review and is not a final clearance.

However, Shipfinex has tentatively identified about 35 candidate vessels, with a total value of approximately $500 million, and plans to advance tokenization after regulatory approval and transaction structure completion. According to the plan, each vessel will be placed into an independent legal entity to isolate the risk of individual assets.

Institutional Investors' Corresponding Rights Are Not Fixed

If the related tokens are officially launched in the future, the rights obtained by institutional investors will depend on the specific structure, which could be loan yields secured by vessels, cash flow sharing from transport contracts, or exposure to the overall economic value of the vessels.

The report also mentions that maritime transport accounts for over 80% of global international trade volume, yet this sector remains underdeveloped in the current approximately $38 billion tokenized RWA market. Similar projects have already been implemented by Galactica and Ethra Ship, indicating that competition in the maritime tokenization space has begun to emerge.

Additional Information: ADI Chain is operated by an institutional-grade blockchain platform in Abu Dhabi, backed by IHC's Sirius International Holding. The platform has deployed the UAE Central Bank-approved Dirham stablecoin (DDSC) on-chain, and IHC completed a $30 million on-chain transaction earlier this year using it.

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