Notably, our wholly owned subsidiary, Oxbridge Reinsurance Limited, assumed the role of lead investor in the SPAC sponsorship. Concurrently, with the finalizing of the business merger, the company successfully listed its common shares and warrants on the NASDAQ. These compelling opportunities not only augmented our business but also enhanced our risk profile, strategically positioning us to capitalize on the growth with emerging technologies. We are especially enthusiastic about the anticipated value of these investments hold and the benefits they offer to our shareholders. As previously mentioned, we are currently in the process of rebranding Oxbridge as an RWA Web3-focused company, leveraging the significant progress we have achieved this year.
Forecast suggests an extraordinary expansion in the tokenized RWA market over the next decade, with estimates exceeding $10 trillion. This has been reinforced further recently, as securitized offer, they had secured $47 million funding led by Blackrock to expand RWA tokenization. This growth trajectory is fueled by the escalating adoption of blockchain technology across various traditional financial sectors, including fiat currency, equities, government bonds and real estate. Endorsements from institutions like Blackrock and Bank of America further affirm the transformative potential of tokenization in enhancing financial infrastructure efficiency, reducing costs and optimizing supply chain. Moreover, industry analysis from firms such as Boston Consulting Group anticipates a substantial surge in the tokenized asset market, potentially reaching $16 trillion by the year 2030.
As pioneers in this evolving landscape, we hold a strong sense of optimism regarding the value our rebranding efforts will unlock for our shareholders. We remain steadfast in our commitment to seizing the opportunities presented by this dynamic market shift. With that, we are ready to address any questions you may have. Operator, please provide the appropriate instructions.
Operator: Thank you, sir. We will now begin the question-and-answer session. [Operator Instructions] We do have a question from Duane Roberts at Rock Fleet Financial.
Duane Roberts: Hi, Jay. How you doing? How are you doing, gentlemen?
Jay Madhu: Doing well, thank you.
Duane Roberts: The first RWA, has it closed yet? Have you already repaid that capital on the first tranche?
Jay Madhu: Yes. So the first one was last year. Those contracts were written June 1 of last year to May 31 of this year. That’s a one-year contract. They were written was it was based on a three-year contract with a one-year out. So the year hasn’t finished. It’s – the contract year hasn’t finished that is. So after the end of this month is when those monies would be due, which we are on track to paying a 45% return.
Duane Roberts: Okay. All right. Thank you.
Jay Madhu: Thank you.
Operator: And that does conclude our Q&A session. I will now turn the conference back over to Mr. Madhu for his closing remarks.
Jay Madhu: Thank you for joining us on today’s call. Before we conclude, I would like to extend my gratitude to our employees, business partners and investors of their unwavering support. I particularly want to acknowledge our dedicated Oxbridge team, whose extensive expertise has been instrumental in navigating and advancing our business at miss these challenging circumstances – missed, pardon me. We anticipate providing you with further updates on our progress during our next call. And should you have any additional questions, please do not hesitate to reach out to us any time. Once again, thank you for your time and attention today and for your ongoing interest in Oxbridge. Operator?
Operator: And before we conclude today’s call, I would like to remind everyone that a recording of today’s call will be available for replay via the link available in the Investors section of the company’s website.
