- Banks tokenizing assets on Polygon kickstart the global move toward tokenization.
- Thallo, HSBC, DBS, and startups lead in tokenizing carbon credits, securities, and real estate.
- Over 72% of finance leaders plan to explore tokenization, ensuring its lasting impact.
In a groundbreaking move at the close of 2022, major banks, including DBS Bank, JP Morgan, and SBI Digital Asset Holdings, completed the first live trades tokenizing deposits on the Polygon network. This marks a significant shift toward the tokenization of real-world assets, from stocks to bonds, fueled by blockchain’s superior capabilities.Read CRYPTONEWSLAND on google news
Enterprises are eager to join the tokenized economy due to benefits such as improved efficiency, data transparency, security encryption, and financial agility. Ripple explores a three-part series about the evolution and adoption of tokenization, starting with its impact on global business.
While crypto initially focused on streamlining payments, industries are now exploring blockchain to reduce frictions linked to illiquid assets. The Boston Consulting Group forecasts a $16 trillion opportunity in tokenized assets, constituting 10% of global GDP by 2030. Ripple’s 2023 New Value Report echoes this sentiment, with 50% of finance leaders anticipating significant impacts across asset classes.
Visionary companies are already revolutionizing sectors through tokenization. Thallo, in the carbon credit market, tokenizes credits for increased transparency and efficiency. HSBC collaborates with Metaco for a digital asset custody service, while DBS Bank issues a tokenized bond, democratizing access for a wider investor range. Startups like Propy streamline real estate transactions, making them faster, secure, and transparent.
Over 72% of surveyed finance leaders expect to explore tokenization in the next three years, establishing it as a cornerstone of innovation. Blockchain’s benefits offer businesses flexibility amid changing market conditions and access to a diverse set of asset classes. The tokenization revolution is underway, unlocking liquidity, efficiency, and transparency across various industries.
Read Alsodisclaimer read more
Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.