Crypto exchange WOO X has joined forces with OpenTrade to reshape the landscape of tokenized assets in Asia. However, this partnership is designed to offer tokenized U.S. Treasury bill products to Asian markets. A partnership geared towards yield and expansionWOO X, a Seychelles-registered crypto exchange, has clarified that Asia remains its priority for expansion. Moreover,...
Digital asset custody and infrastructure firm Fireblocks Inc. announced today that it has acquired the Melbourne-based smart contract development firm BlockFold that helps large banks and financial institutions with the tokenization of financial assets. The deal, which actually closed Sept. 1, is intended to help Fireblocks expand its tokenization capabilities, which allow traditional assets, such...
Banks and blockchains: Together at last? Tokenization, the blockchain-based ownership and exchange of real-world assets (RWA), was one of the buzzwords at last week’s Sibos conference in Toronto, the global banking industry’s annual technology convention. Old hands in the cryptocurrency field are probably rolling their eyes, remembering the “blockchain, not bitcoin” narrative that was popular...
The Federal Reserve has released a comprehensive working paper delving into asset tokenization and Risk-Weighted Assets (RWA). As the financial landscape continues to evolve, these innovative financial instruments garner significant attention for their potential to revolutionize investment strategies and reshape traditional markets. The paper explains that tokenization, similar to stablecoins, consists of five core components:...
Today Citi unveiled two digital asset solutions under the umbrella of “Citi Token Services”. Both services target institutions. One is a pilot for tokenized deposits, enabling organizations to move money between Citi branches worldwide and 24/7. The other is a trade solution that provides smart contract based bank guarantees that was piloted in collaboration with...
Today Singapore’s ADDX announced plans to expand into the Middle East and North Africa (MENA). The regulated tokenization platform and private exchange has raised US$140 million in venture capital, primarily from numerous major Asian financial institutions. These include the Singapore Exchange (SGX) and the Stock Exchange of Thailand (SET). Its expansion into MENA aims to...
It’s a big day for asset tokenization, as many of the biggest names in the field announced the formation of an association to further its development. Seven leaders in decentralized finance (DeFi) have banded together to form the Tokenized Asset Coalition (TAC). The new advocacy group will work toward the adoption of public blockchains, asset...
“For tokenization to reach its potential, institutions will need to be able to seamlessly connect with the whole financial ecosystem. Our experiments have demonstrated clearly that existing secure and trusted Swift infrastructure can provide that central point of connectivity, removing a huge hurdle in the development of tokenization and unlocking its potential.” Swift has unveiled...
Num Finance, the issuer of local stablecoins in Latin America, has launched its newest stablecoin, nCOP. Designed to be pegged to the Colombian Peso, nCOP is now “live on the Polygon network, Num Finance’s primary blockchain partner.” This launch represents a major expansion of the Num Network, “the project’s growing ecosystem designed to enable people...
A recent article published on Ripple’s website highlights the accelerating trend of tokenizing real-world assets like stocks, bonds, and commodities on blockchains. This process of representing assets as digital tokens unlocks liquidity, enhances efficiency, and enables 24/7 trading. With major financial institutions exploring asset tokenization, it warrants exploring how the XRP Ledger and associated XRP...
