Theorem Integrates Symbiotic Liquid Lane RFQ Network To Expand Tokenised RWA Trading

Theorem, a secondary-market trading venue for tokenised real-world assets (RWAs), has integrated Symbiotic’s Liquid Lane request-for-quote (RFQ) network, which connects trading platforms with market makers. The integration is live on Ethereum, with mHYPER, a yield-bearing tokenised fund issued by Midas, as the first supported asset.

The integration gives investors another way to buy and sell RWAs. Access to secondary trading remains limited, and investors are still largely reliant on primary subscriptions and issuer-led redemptions rather than being able to enter or exit positions freely.

By combining on-chain pool liquidity with market-maker quotes, Theorem allows RWA holders to trade their holdings for the USDC stablecoin without waiting for an issuer-led redemption window to open.

Every trade request checks two sources of liquidity: Theorem’s on-chain pool and quotes from market makers connected through Symbiotic’s Liquid Lane. To buy or sell mHYPER, investors connect their wallet, open the mHYPER market and enter the intended amount. Theorem then compares the available prices and executes the trade at the better one.

Market-maker quotes reflect market conditions and are not pegged to the asset’s net asset value (NAV). Trade sizes depend on the liquidity available in Theorem’s pool and the quotes market makers can provide at that moment. New assets may be added in the future as support for them becomes available.

Theorem is a secondary-market trading venue for tokenised RWAs. It enables on-chain trading beyond issuer-defined subscription or redemption cycles, and it also enables blockchains, tokenisation platforms, issuers and fund managers to deploy and own customisable trading venues, with each market operating under the rules of its underlying asset.

Symbiotic is the collateral markets platform connecting capital to onchain applications. Its shared collateral infrastructure supports financial products built on capital-allocation and underwriting strategies designed by institutional curators, and it is backed by Paradigm, Pantera, Coinbase Ventures and cyber•Fund.

Vladimir Tikhomirov, Founder, Theorem and Co-Founder, Algebra

Vladimir Tikhomirov, Founder, Theorem and Co-Founder, Algebra said:

“Tokenization has successfully put real-world assets on-chain, but if investors have to jump through hoops or wait for months when they want to sell them, that means the real problem is still far from solved. For RWAs to be usable as real financial assets, they need functional secondary trading, access to liquidity and competitive prices. This is a crucial next step for the industry, and our integration with Symbiotic supports it,”

Misha Putiatin, Co-Founder, Symbiotic

Misha Putiatin, Co-Founder, Symbiotic said:

“Tokenization pays off when RWAs work like any other DeFi asset: you can trade them, borrow against them and exit in seconds. Liquid Lane helps make that possible. Market makers can quote across assets from a shared capital base that keeps earning between trades, instead of locking capital into a separate pool for each product. With Theorem, that liquidity now reaches RWA holders directly,”

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