As a seasoned crypto investor with a knack for spotting promising ventures, I find myself intrigued by Assetera’s decision to partner with Polygon for Europe’s first regulated secondary market for real-world assets. With my years of experience in navigating the cryptosphere, I can appreciate the strategic move towards leveraging Polygon’s scalability and efficiency for trading tokenized financial instruments and real-world assets (RWAs).
Assetera opted for the Ethereum‘s scaling solution, Polygon, as the foundation for Europe‘s inaugural regulated secondary market dealing in real-world assets. This innovative platform will provide a variety of tokenized financial products and Real-World Assets (RWAs) to individual, professional, and institutional investors alike.
According to reports, Assetera plans to provide financial tools based on digital tokens. These tools encompass various investment options such as transferrable stocks, money market investments, mutual fund shares, derivative contracts, and risk-weighted assets like real estate and artwork.
On the platform powered by Polygon, we’ll create a secure environment for smooth transactions and streamlined processes using stablecoins for purchases, reconciliation, and settlements. Notably, Polygon has recently been added to the listings of INX Digital Company and Backed, who are broadening their tokenized stock offerings to include Tesla, Nvidia, and Google.
According to what Assetera CEO Thomas Labenbacher told Cointelegraph on September 25th, trades will occur directly over the Polygon network. This will involve using stablecoins for transactions such as purchasing, settling clearances, and executing atomic swaps.
He believes the platform will provide asset owners and investors with a “level of liquidity and accessibility previously unimaginable” in terms of blockchain trading.
According to Labenbacher, the Proof-of-Stake mechanism employed by the […] Polygon guarantees a sustainable expansion of this groundbreaking platform, maintaining both security and adherence to regulatory requirements.
In terms of transactions, Assetera offers both custodial and non-custodial wallet options, along with the latest bank-controlled wallet solutions. They collaborate with Sumsub, Chainalysis, and Fireblocks to ensure robust anti-money laundering precautions are in place.
Assetera functions under the umbrella of a Markets in Financial Instruments Directive II (MiFID II) license, a crucial regulatory standard for financial markets within the European Union. Additionally, Assetera is licensed as a Virtual Asset Service Provider.
The company intends to enhance its service offerings to align with the regulatory requirements for Cryptocurrency Assets markets, thereby expanding its trading capabilities within the European Union.
By July 2024, the MiCA bill, which is EU legislation governing cryptocurrencies, has already implemented regulations specific to stablecoins. This has resulted in a reorganization within the market, as the sale of non-compliant stablecoins has been prohibited in Europe, while regulated ones are starting to appear.
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2024-09-25 16:08