Yat Siu, in collaboration with Galaxy Digital, tokenizes a 1708 Stradivarius violin to secure a substantial loan. This unique approach involves the conversion of the centuries-old violin into a non-fungible token (NFT) as collateral, ensuring loan repayment.

Key Highlights:

• Siu borrows money from Galaxy on June 4, leveraging the 316-year-old violin for an undisclosed loan amount.
• The loan value, described as 'in the millions,' remains undisclosed by Galaxy and Siu.
• Ownership history of the violin includes Catherine the Great of Russia, authenticated by auction firm Tarisio.
• Acquisition of the violin by Siu in 2023 at an auction for over $9 million.
• VP of tokenization at Galaxy, Thomas Cowan, sees asset tokenization reshaping the crypto lending landscape.
• Tokenization of tangible assets presents opportunities for increased lending against volatile digital assets like Bitcoin or Ether.