Economist Nouriel Roubini Taps Securitize for First Blockchain Venture Through USAFi

Key Takeaways

• Nouriel Roubini, a longtime crypto skeptic, is making his archetypal large blockchain determination by co-authoring the whitepaper for USAFi.

• USAFi is simply a tokenized integer information backed by the Atlas America Fund, an SEC-registered ETF with reserve assets custodied by Bank of New York.

• Roubini's information marks a important displacement successful sentiment, fixed his agelong past of criticizing cryptocurrencies and questioning their worth proposition.

Economist Nouriel Roubini, 1 of the cryptocurrency industry's astir salient critics, is making his archetypal large determination into blockchain-based concern done a caller tokenized plus inaugural backed by real-world assets.

Atlas Capital Team Inc., wherever Roubini serves arsenic main economist and co-founder, announced plans to motorboat USAFi, a integer information designed to bring institutional-grade collateral onto nationalist blockchain networks.

The task volition beryllium issued nether Dubai's Virtual Assets Regulatory Authority (VARA) model and volition usage Securitize's exertion level to grip tokenization.

The announcement marks a notable displacement for Roubini, often referred to arsenic "Dr. Doom" for his bearish economical forecasts and longstanding skepticism toward cryptocurrencies. Over the years, helium has repeatedly criticized integer assets arsenic speculative instruments lacking intrinsic value.

Crypto Skeptic Turns to Tokenized Real-World Assets

Alongside the motorboat announcement, Atlas published a whitepaper co-authored by Roubini outlining what the institution calls the "Technodollar", a caller exemplary of integer reserve infrastructure built astir US fiscal assets and artificial intelligence.

According to Atlas, USAFi volition beryllium backed by the Atlas America Fund, an SEC-registered actively managed exchange-traded money whose reserve assets are custodied by Bank of New York.

The institution describes the merchandise arsenic the world's archetypal regulated permissionless security, structured arsenic an ERC-20 token that tin commercialized connected nationalist blockchain networks portion maintaining regulatory oversight.

Roubini said caller geopolitical tensions, inflation, sanctions, and proviso concatenation disruptions person created a challenging situation for savers and investors.

"For years I argued that astir integer assets offered nary extortion from this due to the fact that they had nary existent assets down them," Roubini said. "What Atlas has built is different."

He added that the reserve operation down USAFi includes vulnerability to Treasuries, gold, nutrient and strategical commodities, defense, cybersecurity, and AI-related sectors, aiming to supply resilience during periods of economical volatility.