Correction: Hilbert Capital Selected by Stablecoin Issuer Reservoir as Collateral Source
Due to legal setup, the original description of Reservoir as US Stablecoin Issuer has been corrected in the title above.
Hilbert Capital, the asset management division of Nasdaq-listed Hilbert Group AB (NASDAQ ticker: HILB B), has announced today that the asset manager has been tapped by Reservoir Protocol to use a tokenized version of Hilbert Capital’s V1 fund as collateral. Reservoir aims for their stablecoin, rUSD, to have a market cap of at least $500 million by year end. Leading research firm, Bernstein, estimates the stablecoin market to grow to $5 trillion over the next 5 years.
Nick Garcia, CEO and founder of Fortunafi, the platform tokenizing the Hilbert V1 fund commented, “Hilbert boasts an exceptional team with a first-class trading operation and will be instrumental in helping expand Reservoir’s reach. Leveraging the power of blockchain technology, the relentless rise of tokenization and stablecoins, as well as the success of Hilbert's V1 fund, we know this latest integration will be well received."
Hilbert Group CEO, Niclas Sandström: "We consider Reservoir to be one of the best operators in this space and we see a number of synergies which we are looking forward to develop as part of our partnership. This is a win-win in that Hilbert has established a new way of sourcing assets under management where we can grow alongside Reservoir’s rUSD stablecoin. In return, Hilbert is responsible for generating a robust yield for a significant portion of protocol-assets under management. In crypto lingo, this is a DeFi-way of unlocking newfound demand and markets that otherwise wouldn’t have been realized had it not been for the underlying technology powering the Reservoir protocol. This is partly leveraging our crypto native DNA from COIN360.com to become engaged in the ecosystem”.
About Reservoir
Reservoir Protocol was created to offer users the most trusted and scalable decentralized, next-gen stablecoin protocol as part of a broader effort to address the market’s demand for a decentralized, scalable, efficient, and yield-bearing stablecoin. As a permissionless protocol on Ethereum with native integration on top-tier networks, Reservoir offers users globally access to
a next-gen stablecoin, a liquid yielding asset, a term-based yielding asset, and a permissionless lending market. Backed by multiple digital and Real World Assets (RWA), Reservoir provides the most scalable stablecoin through DeFi applications and RWA integrations, offering better and more consistent yields than other stablecoin protocols, irrespective of market conditions.
For additional information on Reservoir one can contact [email protected] or visit Reservoir Protocol.
For additional information, please contact:
Niclas Sandström
CEO Hilbert Group AB
Phone: +46 8 502 353 00
Email: [email protected]
