ADI Chain and Shipfinex are partnering to tokenize commercial ships, targeting a maritime finance market that remains largely relationship-driven. The project has not issued tokens yet, and Shipfinex still holds only preliminary regulatory approval in Dubai.
ADI Chain and Shipfinex are partnering to tokenize commercial ships, targeting a maritime finance market that remains largely relationship-driven. The project has not issued tokens yet, and Shipfinex still holds only preliminary regulatory approval in Dubai.
The effort matters because commercial ships represent a large real-world asset category, while the financing market for buying and building vessels is still dominated by shipowners, banks and specialist lenders. CoinDesk cited estimates that the global fleet itself is worth about $2 trillion, with ship finance representing about $680 billion across bank lending, leasing and export credit.
ADI Chain and Dubai-based Shipfinex have announced a partnership to bring commercial ship financing onto blockchain rails, according to CoinDesk. The plan is to tokenize financial claims tied to vessels, but no maritime asset tokens have been issued so far.
The effort matters because commercial ships represent a large real-world asset category, while the financing market for buying and building vessels is still dominated by shipowners, banks and specialist lenders. CoinDesk cited estimates that the global fleet itself is worth about $2 trillion, with ship finance representing about $680 billion across bank lending, leasing and export credit.
Under the proposed structure, Shipfinex would identify vessels, assess valuations and package deals, while ADI Chain would handle token creation and stablecoin-based payments. The offering is aimed at qualified institutional participants rather than retail buyers.
The project remains early. Shipfinex has only an In-Principle Approval from Dubai's Virtual Assets Regulatory Authority, which is a preliminary step and not a full operating license. CoinDesk reported that Shipfinex has identified around 35 vessels worth about $500 million combined as possible candidates once regulatory approval and deal structuring are complete.
The tokens, if launched, could represent different types of financial exposure depending on the final deal design, such as a vessel-backed loan, a claim on shipping-contract revenue or a broader economic interest in a ship's value. They would not give holders legal ownership of the vessels themselves.
The partnership also shows how real-world asset tokenization is moving beyond bonds and money market funds into physical infrastructure. CoinDesk noted that maritime shipping accounts for more than 80% of international goods trade by volume, while rival projects including Galactica and Ethra Ship have already moved into maritime tokenization.
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