Victor Jung, who runs digital assets at Hamilton Lane, has a simple test for who wins the tokenization race. It comes down to readiness for wallet-to-wallet stablecoin transactions and the ability to borrow against tokenized holdings.
Firms that aren’t ready, in Jung’s framing, risk missing the opportunity entirely. And sitting underneath Hamilton Lane’s own onchain fund is RedStone, the oracle provider that supplies the pricing data those transactions depend on.
What Jung is actually arguing
Jung’s point is less about any single product and more about plumbing. Tokenizing a private markets fund is one thing. Making that token behave like money is another. It needs to move directly between wallets using stablecoins, and it needs to work as collateral in borrowing markets.
That is where oracles come in. A blockchain can’t look up the value of a private equity fund on its own, so it relies on an outside data provider to report that value onchain.
RedStone fills that role for Hamilton Lane’s SCOPE fund, a tokenized product issued through Securitize. RedStone provides daily pricing for the fund, which runs across Ethereum and other blockchains.
Jung has led Hamilton Lane’s digital assets strategy since June 2022. His focus has been bringing the firm’s private market products onchain, with the stated aim of widening access and improving liquidity for an asset class historically known for neither.
RedStone’s expanding toolkit
RedStone describes itself as a modular oracle network. Its core business is delivering price feeds and data services to onchain applications.
The company concentrates on four areas: stablecoins, real-world assets, lending markets, and compliance tools. The Hamilton Lane relationship touches at least three of them.
The compliance piece got a notable upgrade with the launch of RedStone’s Sanctions Oracle on Ethereum mainnet around October 8, 2026. The tool lets smart contracts check wallets against 463 aggregated sanctions lists in real time.
RedStone has also teamed up with Tempo, the payments blockchain involved with Stripe and Paradigm. The oracle provides FX and stablecoin feeds for Tempo, supporting local currency pricing and settlement across payment networks.
RedStone’s network runs on the RED token, which has been live since its token generation event in 2025. RED serves as the utility token for staking within the network.
Why tokenized private markets need this infrastructure
Hamilton Lane’s SCOPE fund is one test of that thesis. By issuing it through Securitize and pricing it via RedStone, the firm is betting that the onchain version can offer something the traditional version can’t.
Jung’s emphasis on stablecoin transfers and borrowing suggests he sees the real value in what holders can do with the asset once it’s onchain. Borrowing against a private markets position is not something most individual investors could do easily in the traditional system. Onchain lending markets could change that, but only if they have reliable pricing and a way to screen participants.
What this means for the market
For oracle providers like RedStone, every tokenized fund that wants to be used as collateral needs a price feed, and every regulated stablecoin flow needs compliance checks. RedStone has positioned itself to supply both, with its combination of RWA pricing, the Sanctions Oracle, and the Tempo partnership.
Private market funds are valued infrequently compared with liquid assets, and daily onchain pricing still depends on the quality of the underlying data. If that data is stale or wrong, a lending market could misjudge collateral values.
A sanctions screen catches wallets that appear on known lists, but it can only work with the lists it aggregates.
Jung did not lay out a specific timeline for when wallet-to-wallet stablecoin transactions or borrowing against SCOPE would reach meaningful scale.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.