Keel Launches $500M ‘Tokenization Regatta’ to Bootstrap Solana’s Real-World Asset Market

The race to tokenize global finance found a new engine in Abu Dhabi today. During the Solana Breakpoint conference, institutional capital allocator Keel unveiled a massive $500 million liquidity initiative dubbed the ‘Tokenization Regatta.’

The program aims to channel up to $500 million in capital into tokenized assets while building long term infrastructure for institutional adoption. The initiative sets up a competitive model for RWA issuers that want clear routes into Solana’s growing on chain markets.

Keel plans to up to $500 million during the first season of the Regatta. Issuers will compete through a formal RFP process that includes a detailed evaluation stage. The company aims to encourage fresh liquidity across tokenized markets and attract large issuers seeking transparent funding routes.

Internal projections from Keel suggest that supported assets can reach more than a 60% combined value increase over the program’s life. The firm has also confirmed strong interest from more than 40 institutions that are exploring participation and long term Solana RWA issuance.

Cian Breathnach from Matariki Labs noted a clear gap between issuers and major buyers. He said many institutions want scalable tokenization products but lack established bridges into active markets. Hence, Keel intends to build those bridges by deploying capital where demand aligns with measurable yield and liquidity.

The Regatta forms part of a larger strategy that Keel shared earlier at Solana Apex. The firm intends to deploy as much as $2.5 billion over time to strengthen tokenized-asset infrastructure.

Keel also taps reserves from Sky’s USDS stablecoin to support lending capacity across Solana DeFi platforms. This structure helps issuers unlock immediate liquidity while testing new RWA models in controlled environments that still connect to real yields and on chain borrowing..

Ben Brophy described the initiative as part of a wider institutional push. He said the program is one component of efforts to build market infrastructure suitable for institutional-scale token issuance and trading. His comments reflect Solana’s broader ambition to position its network as a preferred home for large RWA flows.

Applications for Season 1 opened on 11 December with two tracks. Issuers can request immediate deployment in Q1 2026 or pursue a slower build toward a native tokenization pipeline.

Additionally, contributors from Keel, the Sky Risk Council, Particula, and Kinetika Research will review each proposal. Short-listed applicants will face structured assessments that focus on deal structure, risk adjusted yield, and expected secondary market liquidity on Solana.