Will the settlement role of traditional financial institutions be weakened? Ault, a Cosmos-based tokenized asset network, directly targets enterprise-grade compliance and on-chain settlement, and it also builds in a governance framework from the Wyoming DAO. The move is pretty bold—though it’s that identity-check step that’s the question: it’s unclear whether it will discourage some crypto fundamentalists.

CoinDesk, Ault Blockchain announced the launch of a tokenized asset network based on Cosmos, aiming to reduce the role of traditional financial institutions in settlement while also supporting decentralized exchanges and other on-chain financial applications. The network will provide infrastructure for compliant businesses that may lose access to banking services, supporting tokenized real-world assets and institutional settlement. Ault Capital also launched a public testnet for the network in February, allowing developers to access its EVM environment and execute Ethereum smart contracts. The company said governance will adopt a Wyoming DAO LLC structure, and participants must complete identity verification.