CoinList launches Passage to ride the tokenized real-world asset wave as token sales dry up!

CoinList has launched Passage, a dedicated platform for distributing tokenized real-world assets, marking a significant strategic pivot for the company best known for running token sales during crypto's boom years. The move comes as token sales have slowed materially across the industry, pushing CoinList to diversify its revenue base.

The bet is structural: CoinList is positioning Passage as infrastructure for the next wave of onchain finance, where traditional financial products — from credit to equities to commodities — migrate to blockchain rails. The RWA tokenization market has attracted serious institutional attention in recent cycles, with players like BlackRock and Franklin Templeton already moving billions into onchain fund structures.

For CoinList, Passage is both a survival play and a forward-looking wager that distribution — not just issuance — will be the critical…