Keel, the on-chain capital allocator of the Sky ecosystem, focusing on Solana Launched a $500 million campaign to attract real-world assets (RWA) to the network as part of a broader effort to expand Solana’s footprint in decentralized finance.
The initiative, dubbed the “Tokenization Regatta” and announced at Solana Breakpoint in Abu Dhabi, aims to attract issuers of tokenized assets through a competitive process, Keel said in a press release shared with CoinDesk. Selected projects will receive direct funding and support to issue RWA, such as debt, credit or funds on Solana.
Keel writer Cian Breathnach said more than 40 institutions had expressed interest.
“There is significant interest from asset issuers in deploying on Solana, but what is missing is the scale on the buy side to make it attractive from a business perspective,” he said. “With Regatta, we are solving this pain point for issuers and in the process unlocking a new wave of tokenized assets for the Solana ecosystem.”
Keel operates as an independent organization within the Sky ecosystem, formerly known as MakerDAO, using reserves of Sky’s $6 billion decentralized stablecoin USDS. Its mission is to distribute income-producing assets and return income to Sky and USDS token holders. The $500 million available allocation is part of Keel’s broader roadmap to invest up to $2.5 billion in Solana-based tokenized finance.
Keel’s Regatta has a similar effort with fellow Sky member DeFi lender Spark, which earlier this year invested $1 billion from Sky’s reserves to buy tokenized assets.
Applications for the first phase will open on Thursday, with two tracks available: one for issuers ready to deploy in early 2026 and another for issuers still building infrastructure.
A panel of judges from Keel, Sky Risk Committee and Kinetica Research will evaluate entries based on tokenization quality, yield potential and liquidity.
