CHEX surges 42% as Chintai focus efforts on RWA tokenization

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The value of CHEX, the unique digital currency issued by Chintai, a blockchain company based in Singapore, has increased by 42% within the past 24 hours. There’s been a surge of interest in CHEX in the United States market, causing its price to rise and trend upward.

Currently, CHEX is priced at $0.379 and has seen a trading volume of around $21.9 million within the past 24 hours. This significant increase in trading activity highlights the coin’s growing market interest.

CHEX surges 42% as Chintai focus efforts on RWA tokenization

Chintai, a company known for tokenizing real-world assets (RWAs) like real estate and CO₂ certificates on the blockchain, began three years ago. They achieve this by transferring tokenized RWAs to widely used public blockchains such as Ethereum, Solana, and Avalanche with the help of network bridges.

Chintai has obtained two licenses issued by the Monetary Authority of Singapore (MAS), enabling it to operate a legally sanctioned digital asset marketplace. These permits enable Chintai to pursue a controlled, long-term strategy that attracts institutional investment. This includes various offerings, such as bonds, real estate, and carbon credits, targeting a projected market value of $16 trillion by 2030.

On February 8, 2024, Chintai introduced Chintai Nexus – a comprehensive platform for tokenizing real-life assets. This user-friendly application handles the entire trading process of digital assets like carbon credits, utility tokens, collectibles, and other alternatives.

Chintai’s latest updates, including the introduction of Chintai Nexus, represent a major move forward in the company’s dedication to progressing the process of tokenizing real-life assets.

Moving forward, investment giant Blackrock has unveiled plans to launch the BlackRock USD Institutional Digital Liquidity Fund in collaboration with Securitize, a prominent asset tokenization company based in the British Virgin Islands.

Securitize’s participation in the fund suggests it will likely focus on converting real-world assets into digital tokens using blockchain technology. This innovative approach represents ownership of various assets through a single token, increasing their marketability and streamlining transactions.

BlackRock’s latest action is an extension of its entrance into the digital asset fund market. In January, they introduced a Bitcoin exchange-traded fund (ETF), which accumulated over $15 billion in assets, and they filed for an Ethereum ETF last year.

In a January interview with CNBC, Larry Fink, the CEO of BlackRock, expressed his belief that Bitcoin and Ethereum ETFs serve as precursors to tokenization. He is convinced that this is the direction the market will move towards in the future.

The process of converting tangible assets into digital form on the blockchain is a burgeoning area where technology from digital currencies meets traditional financial markets. This approach aims to accelerate transactions and enhance productivity by moving conventional assets onto the blockchain platform.

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2024-04-12 12:07