Abra CEO says Wall Street's next crypto targets are tokenization, on-chain lending

Tokenization and on-chain lending are the next crypto investment targets for Wall Street institutional investors, according to Bill Barhydt, CEO of crypto asset management platform Abra. In an interview with CoinDesk, he explained that tokenized yield products and on-chain lending will lead the next phase of crypto asset management. Barhydt noted that everything is being tokenized through decentralized finance (DeFi) to secure liquidity and that the next generation of asset management is on-chain. Abra recently signed a merger agreement with special purpose acquisition company (SPAC) New Providence Acquisition and is pursuing a Nasdaq listing. Barhydt added that the company aims to list this summer, pending approval from the U.S. Securities and Exchange Commission (SEC).