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About R25
R25 builds vault infrastructure: real-world assets, Treasuries, staking and arbitrage strategies are packaged into standardized vaults that issuers can deploy in minutes, investors subscribe by share, underlying yields and risk parameters are disclosed onchain, and backtesting tools help design combinations.
It targets the engineering bar for putting asset management onchain, where each strategy needs its own contracts, audit and compliance work at high cost and long lead time. Modular vaults standardize that. In July 2026 it integrated with Binance Wallet to launch the Axil vault for credit assets and outlined a 2.0 version. The risk is the underlying: default rates in emerging-market consumer credit are reported monthly, and NAV updates depend on manager reporting.
R25 was founded in 2025 in Hong Kong with a company size of 11 to 50 people, providing professionally managed vaults.
On November 14, 2025, R25 launched an institutional-grade RWA protocol on Polygon mainnet, introducing the rcUSD token, unifying real-world credit, treasuries, staking, and arbitrage into one access point.
On July 27, 2026, R25 announced integration with Utila and Yield.xyz, enabling institutions to access curated RWA strategies through an MPC-governed gateway, opening institutional treasury access to curated vaults.
On September 30, 2026, R25 opened R25 Studio for public testing, compressing the fund establishment cycle to 10 minutes, enabling eligible curators to launch vaults at scale.
R25 announced its 2.0 upgrade in 2026, opening its previously closed infrastructure into an institutional-grade 'Vault Infrastructure as a Service': qualified asset managers can configure, deploy and operate vault smart contracts in minutes using natural language, with one-click deployment and AI backtesting, plugged into a global on-chain capital network spanning custodians, exchanges, wallets and crypto-native investors. R25 2.0 supports strategy construction from over 2,000 on-chain assets across RWA, crypto and DeFi. Its 1.0 was already validated - curator Axil's private-credit vault reached $130 million in TVL after launch, platform deposits total roughly $146.6 million, and the curator lineup includes Raffaello and Ember Protocol.
Future strategy and roadmap: Looking ahead, R25 2.0 is scheduled to launch officially in Q4 2026, further opening institutional vault infrastructure built on modular architecture, asynchronous deposits and withdrawals, and standardized NAV and portfolio accounting, so managers only define strategy, fees and risk parameters while deployment, asset onboarding, NAV calculation and capital distribution are handled by modular infrastructure. Around AI-ready 'AI Skills' modules and a 24-point Guard layer, it will let AI agents assemble vaults autonomously and connect to a broader global capital network.
Jason Windawi — Chief Strategy Officer; leads institutional-grade RWA product design and drove the launch of the rcUSD family on Sui and Polygon.
Sean Chung — VP of Global Business Development, responsible for ecosystem partnerships and institutional channels.
R25 lets curators set an annualized management fee between 0.5% and 5%, and R25 takes 50% of that fee revenue when the management fee is at or above 1.0%.
R25 charges a minimum 0.5% annualized fee when the management fee is set below 1.0%, so investors pay an annualized management fee of at least 0.5%.
In R25 Stove underlying-asset trading, the OTC conversion fee on US and Korean stocks is 10 bps (0.10%) per trade, US stock token trades carry a minimum of 1.33 U per trade, Korean stock token trades carry a 6 bps (0.06%) per-side commission with a minimum of KRW 5,000 per trade, and Korean stock sells additionally incur a 20 bps (0.20%) transaction tax.