Apex Group has tokenized an institution-grade structured note tied to Bitcoin mining hash rate on Coinbase’s Base network, expanding its real-world asset (RWA) tokenization footprint. The tokenized instrument, Omnes Mining Note (OMN), is backed by a fixed hash-rate of 1 PH/s over a 36-month tenor, and ownership is recorded on books and mirrored on-chain. On-chain standards such as ERC-3643, developed by Tokeny, enable regulatory-compliant, permissioned asset tokenization on Ethereum.
Apex Group founder and CEO Peter Hughes said tokenization provides mobility and utility that traditional notes cannot, and qualified investors may transfer OMN on-chain or use it as collateral for permissioned lending. Apex had previously disclosed that it would serve as transfer agent and NAV administrator for the Coinbase Bitcoin Yield Fund, with the offering provided on Base. This move signals that Apex and Coinbase’s collaboration on Base is broadening in scope.
Base’s head of network growth Jesse Pollak stated that bringing mining-based, regulated debt products to Base is a major win and demonstrates that on-chain finance can serve real-world industrial infrastructure, not just crypto-native assets. Omnes’ CEO Emmanuel Montero emphasized that Bitcoin mining represents a unique issuance mechanism through which new BTC is created, distinguishing it economically from yield strategies that rely on redistributing existing coins.
RWA tokenization is expanding beyond traditional assets like government bonds and fund equity to include industrial infrastructure exposures such as Bitcoin mining hash rate, a development viewed as a meaningful market signal. However, hash rate profitability remains sensitive to Bitcoin price, network difficulty, energy costs, and regulatory shifts, meaning risk pricing will be crucial.
Leave a Reply