Dragonfly's Tom Schmidt Highlights Growth of Synthetic Dollars at Korea Blockchain Week 2026

At Korea Blockchain Week 2026 in Seoul, Tom Schmidt, General Partner at crypto venture firm Dragonfly, discussed the future of synthetic dollars in relation to the increasing tokenization of real-world assets. The conference, which took place from September 29 to October 1, focused on topics such as tokenization, stablecoins, and regulatory policies in the blockchain space.

Schmidt emphasized the interconnectedness of synthetic dollars and real-world assets (RWAs), arguing that as more traditional assets like bonds and fund shares are tokenized on blockchains, the potential for creating dollar-pegged products expands. He noted that synthetic dollars, which are tokens designed to maintain a value of one dollar through various underlying assets rather than cash reserves, will grow alongside this trend.

Dragonfly's involvement in this space is significant, as the firm invested in Ethena’s synthetic dollar protocol, USDe, in 2023. The discussions at Korea Blockchain Week also highlighted the competitive landscape of stablecoins, with various designs emerging, including fiat-backed tokens and local-currency stablecoins, all vying for dominance in on-chain settlements.

The event featured a range of speakers from major crypto firms like Tether and Ripple, as well as regulatory representatives, underscoring the importance of collaboration between policymakers and the industry to advance tokenization. The evolving landscape suggests that tokenized assets could provide new liquidity and investment opportunities, although the stability of synthetic dollars remains a critical point of regulatory scrutiny.

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Source: KLEA News