PANews reported on May 15 that CoinList announced the launch of Passage, positioned as an "access layer" for on-chain capital markets, aiming to provide compliant distribution, fund access, allocation, and infrastructure support for tokenized assets.

CoinList states that as tokenized stocks, funds, yield products, and pre-IPO assets gradually migrate to the blockchain, the current market still suffers from fragmentation issues related to issuers, blockchains, and compliance rules. Furthermore, "asset tokenization does not equate to effective distribution." Passage will connect issuers, platforms, and investors, helping tokenized assets achieve large-scale on-chain circulation.

According to reports, Passage is built on CoinList's existing infrastructure. CoinList claims that since 2017, its platform has covered more than 160 countries and has facilitated the distribution of over $1.2 billion in assets.