As a seasoned crypto investor with over a decade of experience navigating the dynamic landscape of digital assets, I find the partnership between Archax and XDC Network particularly intriguing. My journey in this space has taught me that such collaborations often pave the way for significant advancements in the industry.
In a collaboration, Archax – a digital asset trading platform and custodian overseen by the UK’s Financial Conduct Authority – is teaming up with the XDC Network, a major blockchain platform, to boost the usage of digitized real-world assets.
As a researcher, I’m excited about the recent collaboration announced on December 5th, which focuses on utilizing regulated digital assets and blockchain technology to make tokenized Real World Assets (RWAs) accessible for financial institutions. According to a blog post, Archax and XDC Network (XDC) have highlighted ease of access and compliance as key elements in unlocking the potential benefits of RWA tokenization for institutional players. In other words, we’re working together to make it simple and secure for financial institutions to participate in RWA tokenization.
Keith O’Callaghan, head of structuring at Archax, commented:
Since the beginning, we’ve focused on advancing digital assets through innovation and development. The advanced blockchain distributed ledger technology (DLT) and tokenization are poised to revolutionize conventional finance by introducing a fresh variety of financial and trading tools.
The partnership comes during a period of significant growth for the tokenized RWA market. Blockchain and traditional finance companies have increasingly moved real-world assets on-chain, with major players like BlackRock already involved.
With increasing popularity of advanced, decentralized financial systems, it’s predicted that the tokenized risk-weighted assets (RWA) market could swell to a massive $30 trillion by the year 2034, as per estimates from Standard Chartered.
In June 2024, Ripple and Archax collaborated on a project to tokenize Real-World Assets (RWAs), intending to make millions of dollars worth of these asset tokens accessible through the XRP Ledger. Later in November, they announced that State Street, Fidelity International, and Legal & General Investment Management had joined their roster of funds for tokenized RWA investments.
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2024-12-05 18:56