Next to a growing crop of spot-ETF applications (which may, or may not, be inadequate), the tokenization of real-world-assets (RWA) and financial instruments is perhaps the hottest topic as of late involving digital assets. The following are a few examples of this highlighting company acquisitions, pilot programs, and more. Mastercard – Tokenized Bank Deposits Mastercard...
Can ridesharing bring Web3 to the masses? Eloop, a Vienna-based car-sharing service company, in collaboration with Web3 ecosystem Peaq Network, seem to think so. The pair have recently taken a step toward strengthening the intersection of blockchain and transportation by tokenizing a fleet of Teslas. Eloop has integrated blockchain-based self-sovereign IDs into just under half...
Deutsche Bank has applied for a digital asset custody license with BaFin as traditional finance (TradFi) companies use asset tokenization to quietly takeover the crypto industry. The company seeks to diversify revenue streams while other crypto firms wait for Europe’s markets to take effect in the Crypto-Assets (MiCA) Bill. Wall Street Firm Explores Asset Tokenization...
Finblox, a Hong Kong-based crypto superapp backed by Dragonfly and Saison Capital, has on Tuesday announced the launch of tokenized rights to US Treasury Bills (T-Bills) in partnership with OpenEden, a firm that operates the first smart contract vault to offer 24/7 access to U.S. Treasury Bills. Finblox said in a statement that this move...
BOCI, Bank of China’s investment banking division, has broken new ground by issuing 200 million yuan ($28 million) in fully digital structured notes in Hong Kong. This is the first instance of a tokenized security issuance by a Chinese financial institution in the region. UBS originated the product, which was allocated to its clients across...
In a press statement released on Tuesday, the Society for Worldwide Interbank Financial Telecommunication (Swift) revealed that it will work with prominent banks and Chainlink, a Web3 infrastructure provider, to experiment with linking private and public permissionless blockchains. Swift, a widely used global financial messaging system for international money and securities transfers, began conducting tests...
Major UK asset manager Abrdn has launched its first blockchain-based investment by tokenizing part of its £15 billion Lux Sterling money market fund. The token was issued on the Hedera Hashgraph DLT, where Abrdn is on the governing council. It used the Archax Tokenisation Engine to mint the token. “We made the investment into Archax...
On June 6, decentralized finance (DeFi) lending platform Defactor Labs said it tokenized $100 million worth of Alpha Bonds using the ERC-3643 token standard. The bond, tokenized on the Polygon (MATIC) network, will be lent to small and medium-sized enterprises using real-world assets, such as receivables, as collateral. Defactor Labs partnered with law firm CMS...
In a momentous announcement, MetaZOne unveiled the successful conclusion of its groundbreaking seed funding, securing an impressive sum of 3 million in US dollars. 🚀 Big announcement! MetaZone raises $3M 🚀 With the support of our leads @Sfermion_ & @CMTdigital, as well as other metaverse pioneers, we’ve successfully closed our seed round. Together, we’re empowering...
Small Industries Development Bank of India (SIDBI) has announced the completion of a pilot exploring tokenization using blockchain technology to improve processes in the financial sector. SIDBI teamed up with technology firm Infosys (NASDAQ: INFY) to create a tokenized collateral network (TCN) which pundits say will foster trust among participants in lending. SIDBI Chief Technology...
