Institutional platform powered by EOS to enable the tokenization of traditional financial assets – Bywire Blockchain News

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LONDON (Bywire News) – Chintai has announced the beta of a new digital affirmation platform that will help businesses create, issue and symbolize traditional assets in the capital and real estate markets. This is another step in the transition to delivering innovative financial products to the blockchain.

The announcement comes as the blockchain specialist opens its Asia-Pacific headquarters in Singapore. Banks, asset managers and other financial institutions have been invited to join the digital asset beta program which runs on EOS, the third generation blockchain launched by B1 in 2018.

In July, the platform raised £ 7.5million to develop a platform for tokenization of traditional assets. This platform is now ready for the beta phase and promises great things for the financial industry.

The new service provides businesses with an easy way to configure their own emissions into an interoperable compliance protocol for digital assets, resulting in efficiencies and savings compared to other market practices. The beta program includes a variety of sophisticated asset classes and instruments that drive adoption.

The company is backed by a collection of big names including Cryptology Asset Group, Collective Capital, Peer Venture Partners, Chimera Wealth and B1.

“As we aim to tap into the wider Asia-Pacific market, we see strong potential for blockchain adoption by institutions in this region, with Singapore being a major key market that will lead the way,” David Packham , founder of Chintai, mentioned. “With our team of experts with extensive experience in banking, capital markets and blockchain technology, we are confident in raising the overall level of the blockchain ecosystem in Singapore, especially at the institutional level. “

Tokenization is one of the many potentially disruptive blockchain concepts entering the financial industry. It is about issuing a blockchain token to represent a real tradable asset in the digital sphere. It can dramatically reduce the friction involved in creating, buying and selling securities and offers greater transparency, faster transactions and cheaper. This type of technology is only available through SEC approval, legal status of EOS.

“It is well known that distributed ledger (DLT) technology will dramatically disrupt the financial system,” said Kevin Rose, senior vice president at Block.one. “Established financial institutions want to maintain their competitive advantage, while small businesses see technology as a way to access new, innovative lines of business and increase their margins. Our comprehensive platform makes it easy for anyone to adopt compliant DLT for their specific needs ”.

(Written by Tom Cropper, edited by Michael O’Sullivan)


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