PNXP Is Bringing A Billion Dollar Market To The OTC

Celsius, BlockFi, and Voyager vaporized tens of billions of dollars in on-chain lending capacity when they collapsed in 2022. While the platforms failed, the demand never disappeared; the market just lost its supply of trustworthy counterparties. Pinya XP (OTCID: PNXP) is stepping into that void, cutting ties with cannabis entirely to launch RWA Loan Inc. after the new year, a collateralized real-world asset lending platform built around digital pawn lending, corporate Bitcoin treasury services, and RWA ATMs.

Boston Consulting Group's 2022 report with ADDX forecasted tokenization of illiquid assets reaching $16.1 trillion by 2030, and a follow-up report with Ripple published in April 2025 pushes that to $18.9 trillion by 2033 at a 53% compound annual growth rate. The money is following the projections already: BlackRock's BUIDL fund launched in March 2024, surpassed $1 billion in AUM by March 2025, peaked near $2.9 billion by mid-2025, and currently holds roughly 40% market share in tokenized Treasuries. JPMorgan's Kinexys platform processes over $2 billion in daily transaction volume and has settled more than $1.5 trillion since inception. The two largest names in traditional finance are building blockchain infrastructure, which means the question is no longer whether tokenization happens but who captures the volume they leave behind.

Those giants are focused on large institutional treasuries and enterprise settlement, which leaves a massive gap in the market. Both individuals and SMEs need liquidity against real-world assets but remain underserved by banks tightening credit standards. It is that exact gap that RWA Loan Inc. aims to target as they roll out their new operation with three integrated business lines: digital pawn lending, corporate Bitcoin treasury services, and RWA ATMs. The combination positions the company to serve both retail borrowers and the growing number of corporations holding BTC on their balance sheets. At a market cap of just above $265k with only about 25 million free trading shares held at DTC, the company is entering an explosive sector where BlackRock alone has deployed $2.1 billion.

Alex Mashinsky, founder of Celsius Network

But there is a reason the giants avoid this segment: it was the epicenter of the 2022 collapse. To survive where others failed, the lending model must be bulletproof. Maple Finance learned this the hard way when its under-collateralized lending model led to a $36 million default from Orthogonal Trading after the FTX collapse. The platform successfully pivoted in 2023 to requiring 120% to 170% collateral ratios with real-time monitoring through institutional custodians like BitGo and Anchorage and has reported zero losses since. Pinya XP is building on those same standards, with institutional-grade custody partnerships and conservative risk management protocols developed explicitly in response to these industry lessons from 2022.

CEO Frank Yglesias is also the CTO of $GROO, the company behind the innovative OTCM Protocol, the Solana-based platform converting illiquid OTC stocks into 24/7 tradeable SMTs backed 1:1 by real shares at registered transfer agents. Beyond GROO, his background runs through sovereign-level digital asset policy in Panama and The Bahamas, technical operations for major cryptocurrency mining pools, and over 15 years of international business consulting in Beijing working with embassies and the U.S. Department of Agriculture.

Yglesias already built the infrastructure to bring illiquid OTC securities back to life with OTCM Protocol, and now he is applying the same discipline that kept Maple and Ledn standing while Celsius and BlockFi burned to the ground to build out the lending side for the market that BlackRock and JPMorgan are leaving wide open. RWA Loan Inc. launches in 2026 with weekly operational updates to start flowing soon, positioning PNXP at the intersection of institutional validation of tokenization and a market that has been waiting years for someone to step up and fill the gap big players like Celsius left behind.

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