Galactica, Kaia, Pinetree Partner to Expand Tokenized RWA Market in Singapore

Galactica, Kaia and Pinetree have signed a three-party memorandum of understanding (MOU) in Singapore to jointly develop and distribute tokenized 'real-world assets' (RWA), underscoring how quickly blockchain-based capital markets are moving from pilots to scalable infrastructure.

The deal comes as tokenization accelerates globally. According to RWA data platform rwa.xyz, the on-chain market value of tokenized real-world assets excluding stablecoins surpassed $30 billion by mid-2026. Brokerages and asset managers across Asia and beyond have increasingly pursued collaborations around 'security token offerings' (STOs), seeking to issue traditional assets as regulated, blockchain-native securities.

Announced on Thursday UTC (July 10), the partnership positions Singapore—now widely viewed as a regional gateway for regulated tokenization—as the operational hub. The three firms said they will build an integrated cooperation framework spanning the full value chain: sourcing assets and structuring products, providing tokenization technology, managing licensing and regulatory compliance, and ultimately distributing tokenized products to a broader investor base.

Tokenization converts assets such as real estate, vessels and other income-producing collateral into blockchain-based digital tokens that can be traded in fractions, potentially improving 'liquidity' and widening access. Industry proponents argue that the model can lower barriers for investors while creating additional funding channels for asset owners—provided the legal, custody and compliance layers are robust.

The first focus area under the MOU is Indonesian ship finance, a niche that the partners say illustrates both demand and structural inefficiencies. Indonesia holds more than 10% of the world’s registered vessels, yet shipowners face constrained access to collateralized financing—creating a persistent capital bottleneck. By tokenizing ship finance, the consortium aims to offer shipowners a new funding route while giving investors exposure to asset-backed returns that have traditionally been limited to select institutional channels.

Under the division of roles outlined in the agreement, Galactica will lead asset origination and product structuring while providing tokenization frameworks and technical support. Pinetree will oversee licensing and regulatory compliance, including the design and operation of KYC/AML processes, and will leverage its distribution network to broaden investor access. Kaia will supply the blockchain infrastructure for issuance, settlement and lifecycle management, connecting tokenized products to on-chain liquidity.

Galactica, a Singapore-based specialist in RWA tokenization jointly established by Kaia and Indonesian shipping company PT Pelayaran Korindo, pointed to its existing ship-finance program, Pegasus, as proof of concept. The firm said its first product, Pegasus 1, financed a large LNG carrier of 145,000 CBM capacity via blockchain-based fundraising and subsequently repaid principal and interest as scheduled. It later completed a second transaction, Pegasus 2, as the model expanded.

Kaia, created through the integration of Klaytn and Finschia, is positioning itself as an Asia-focused Layer-1 network optimized for stablecoin settlement and on-chain finance. The company said it has tested stablecoin-based payment and remittance workflows with banking partners, cutting transfer times to under three minutes and reducing fees by roughly 87% versus traditional international rails such as SWIFT. Kaia also emphasized its institutional-grade compliance stack, including anti-money laundering controls and transaction monitoring, as part of an effort to bridge tokenized assets with regulated finance.

In the new collaboration, Kaia plans to link tokenized products with liquidity via its investment subsidiary, Kaia Investment Partners (KIP), including its Multi-Asset Yield Fund. The broader objective is to ensure tokenized assets can be issued, settled and traded efficiently while remaining interoperable across different blockchains and legacy financial systems—an ongoing constraint for many tokenization initiatives.

Pinetree, a Singapore entity launched in 2020 by Hanwha Investment & Securities, will play the gatekeeping role around regulatory alignment and distribution. The firm has built a track record sourcing alternative investments and private-company opportunities across Southeast Asia, positioning itself as a cross-border conduit between Korean capital and regional deal flow.

The partners said they intend to expand beyond ship finance over time, targeting additional asset classes such as infrastructure-linked assets and structured financial products. While tokenization narratives often emphasize speed and accessibility, market participants have increasingly focused on the less visible requirements—licensing, investor protections, compliant onboarding and reliable settlement—that determine whether tokenized RWAs can scale under real-world regulatory scrutiny.

“Building on the ship-finance RWA model validated through Pegasus, we will work with Pinetree and Kaia to introduce a wider range of real-world assets to global investors,” said Galactica CEO Kim Yoong-young.

Kaia Chair Seo Sang-min said the network is pursuing end-to-end on-chain financial infrastructure spanning stablecoins and tokenized assets, adding that the partnership will help expand Kaia’s role as an “on-chain finance hub” where assets are issued, settled and distributed on blockchain rails.

Pinetree CEO Lee Sang-won said the firm will focus on implementing tokenization “safely within Singapore’s regulatory framework” and connecting vetted opportunities to global investors through its network.

The MOU highlights a broader trend in the RWA sector: competitive differentiation is shifting from isolated token issuance toward full-stack execution—asset sourcing, compliance, settlement and distribution—designed to meet institutional expectations while widening access to global capital markets.