Fhenix launches mainnet on 2 chains as tokenized assets top $39B
Fhenix says its encryption coprocessor is in production on two networks, while its own design post lists narrower DeFi support and visible sender, receiver and timing data.
- Fhenix said Oct. 21 its CoFHE coprocessor is live on Ethereum and Arbitrum mainnet, with two design partners.
- Distributed tokenized assets total $39.25 billion, and Ethereum and Arbitrum hold 45.2% by our calculation, according to RWA.xyz.
- Fhenix said three more apps launch on CoFHE in Q4 and two institutional partnerships follow in coming weeks.
Fhenix launched its mainnet on Ethereum and Arbitrum on Oct. 21, the company said, putting a coprocessor that computes on encrypted data into production as tokenized assets reach $39.25 billion in distributed value, according to RWA.xyz data retrieved Oct. 16.
Regulators are building settlement rails for tokenized assets, which puts the question of who can see positions and balances onchain on the agenda. Fhenix says its mainnet answers that with encrypted computation.
Tokenized assets pass $39 billion as central banks build rails
The European Central Bank launched Pontes, which offers tokenized central bank money for settling distributed-ledger transactions, on Sept. 21, according to Isabel Schnabel's Oct. 1 presentation. Schnabel sits on the ECB Executive Board.
The presentation lists 24/7 availability and decentralized programmability as planned Pontes enhancements.
Distributed tokenized assets, excluding stablecoins, total $39.25 billion, according to RWA.xyz network data retrieved Oct. 16.
Ethereum and Arbitrum, the two networks where Fhenix launched, hold $17.75 billion of that, or 45.2% by our calculation.
Stablecoins, which the tracker counts separately, total $291.79 billion.
By the numbers
| Metric | Value | As of | Source |
|---|---|---|---|
| Distributed tokenized assets, excluding stablecoins | $39.25 billion | Oct. 16, 2026 | RWA.xyz network data |
| Distributed value on Ethereum | $16.79 billion | Oct. 16, 2026 | RWA.xyz network data |
| Distributed value on Arbitrum | $956 million | Oct. 16, 2026 | RWA.xyz network data |
| Ethereum and Arbitrum share of distributed value | 45.2% | Oct. 16, 2026 | Our calculation: (16.79 + 0.956) / 39.25 |
| Design partners live at launch | 2 | Oct. 21, 2026 | Company statement |
| Further apps planned on CoFHE | 3 | Q4 2026 | Company statement |
CoFHE moves to mainnet with two design partners and an audit claim
CoFHE, Fhenix's fully homomorphic encryption coprocessor, runs encrypted computation off-chain and returns results to contracts on Ethereum and Arbitrum, the company said.
Dual-mode tokens let a holder switch a balance between public and confidential in one transaction, without wrapping or bridging, the company said.
Fhenix's own Aug. 10 design post says the confidential side has narrower DeFi and wallet compatibility, and that sender, receiver and timing stay visible onchain.
Fluton, which the company described as a confidentiality engine for private-by-default interactions, and Alpha Engine, where strategists submit encrypted strategies, are the design partners. Both completed technical and security reviews with Fhenix, the company said.
Consensys Diligence audited the system before launch, the company said. Not independently verified: the audit and the partner reviews. The release names no audit scope and links no report.
Guy Zyskind, founder of Fhenix, said the company is working with Tandem on a confidential stablecoin, with no date given. The release lists Tandem by Offchain among Fhenix's backers.
Steven Goldfeder, co-founder and CEO of Offchain Labs, said the Arbitrum ecosystem can now use Fhenix's privacy infrastructure on mainnet.
Hester Peirce, then a U.S. Securities and Exchange Commission commissioner, said in a speech on Sept. 23 that cryptography "allows us to be confident that a fact is true without knowing the underlying data."
Peirce was speaking about digital identity and government data collection, not Fhenix. She said the missing piece is a regulatory framework that would allow and encourage adoption of such tools.
How we got here
- Aug. 10, 2026: Fhenix publishes its dual-mode token design, listing narrower DeFi and wallet compatibility, the company said.
- Sept. 21, 2026: The ECB launches Pontes, according to Schnabel's presentation.
- Sept. 23, 2026: Peirce says a framework for privacy-preserving tools is missing, in a speech.
- Oct. 16, 2026: RWA.xyz data shows $39.25 billion in distributed tokenized assets.
- Oct. 21, 2026: Fhenix announces CoFHE mainnet on Ethereum and Arbitrum.
What to watch: Q4 launches and the audit report
Fhenix said three more apps launch on CoFHE in Q4, which ends Dec. 31, 2026, and that it will announce two institutional partnerships in the coming weeks.
If the Consensys Diligence report is published, the audit scope becomes checkable. Throughput under real demand is the other open point, because the release gives no figure for its dynamic throughput.
How we reported this: Fhenix supplied the launch details, partner descriptions and quotes in an Oct. 21 release; market figures come from the linked RWA.xyz, ECB and SEC pages, and the 45.2% figure is our calculation: ($16.79 billion + $956 million) / $39.25 billion.
Source: www.fhenix.io