TokenFi plans to launch the RWA tokenization module in 2024 and will integrate Chainlink’s PPoR and CCIP
TokenFi announced the launch of its RWA tokenization module, aimed at digitizing non-security real-world assets (RWA). The module provides users with a fast and efficient way to digitize real-world assets on the TokenFi platform.The RWA tokenization module primarily allows for the digitization of non-security assets. The specific plan is set to launch in 2024 and will technically integrate Chainlink's Proof of Reserves (PoR) and Cross-Chain Interoperability Protocol (CCIP). Chainlink PoR will ensure the true collateral status of digitized assets, while CCIP will enable users to seamlessly and quickly move digitized assets between supported chains without relying on bridge solutions, thus improving efficiency and user experience.
TokenFi (TOKEN) is listed on PancakeSwap and Uniswap, with a total transaction volume of US$18 million
According to official sources, TokenFi (TOKEN), the sister token of Floki, had a total of 10,800 holders on the BNB Chain and Ethereum chain after being launched for 6 hours. The trading volume on PancakeSwap and Uniswap reached approximately $18 million.
Earlier, Floki announced the launch of its cryptocurrency and asset tokenization platform, TokenFi. TokenFi aims to simplify the process of cryptocurrency and asset tokenization and eventually become the world's most important tokenization platform. Floki stakers will receive 56% of the supply as a reward over four years.
The total token issuance is 10 billion, with 5 billion each on the Ethereum and BNB chains. 10% of the token supply will be used to provide liquidity on Uniswap and PancakeSwap, with trading expected to begin at 23:00 (UTC+8) on October 27th.
Temasek Managing Director: Complete Crypto Infrastructure Will Facilitate Wider Institutional Participation
Pradyumna Agrawal, Managing Director of Temasek, said at the Token2049 "Institutionalization of Digital Assets" roundtable in Singapore:
"Now we are talking about spot and spot-based ETFs. From an institutional perspective, I think there is a common theory that in each cryptocurrency bull market, you will touch different market effects. So you start interacting with those who were the earliest to get involved, then you turn to those who benefit from cryptocurrencies, and then high-net-worth individuals, family offices, and the prediction is that in the next wave, there will be a large-scale phenomenon of institutional participation.
Mirae Asset Securities Partners With Polygon Labs To Advance Tokenization Within Finance and Boost Adoption of Web3 Technologies
Mirae Asset Securities, the largest financial group in South Korea with over $500 billion in assets under management, has partnered with Polygon Labs to advance tokenization in finance and promote the adoption of Web3 technologies. Polygon Labs will act as a technical consultant in The Mirae Asset Security Token Working Group, which aims to establish infrastructure for issuing, exchanging, and distributing tokenized securities.
Ripple: Working With Hong Kong Companies and Financial Regulators to Pilot Projects Such As RWA
August 10th, Kirit Bhatia, the head of international business development at Ripple, stated that Ripple is collaborating with the Hong Kong Monetary Authority (HKMA) to pilot a central bank digital currency (CBDC) program. The program aims to tokenize real-world assets (RWA) using the Ripple CBDC platform supported by XRP Ledger (XRPL) technology.
Hong Kong and Saudi Arabia Strengthen Financial Collaboration, Targeting Tokenization and Payments Infrastructure
Hong Kong and the Kingdom of Saudi Arabia are increasing their financial collaboration with a focus on tokenization and payments infrastructure. The two central banks, HKMA and SAMA, signed a memorandum of understanding to promote joint discussions on financial innovation and share expertise in areas such as tokenization and payment infrastructure. The announcement does not specify whether the development will include any joint efforts related to cryptocurrencies like Bitcoin. Hong Kong is already participating in several inter-jurisdictional tokenization initiatives, including Bank of China's recent issuance of a $28 million tokenized security on the Ethereum blockchain.
On-Chain Bond Platform Matrixdock Uses Chainlink Proof-of-Reserve for Greater Transparency
Matrixdock, a digital asset platform for real-world asset (RWA) tokenization solutions, has partnered with Chainlink to increase the transparency of its short-term treasury tokens using Chainlink’s Proof-of-Reserve (PoR). The integration enables stablecoin holders of Matrixdock’s STBT product to obtain U.S. Treasury bonds and reverse repurchase agreements backed by U.S. Treasuries. With on-chain data feeds and automated verification capabilities, Matrixdock enables faster time-to-market for tokenized projects and enhanced asset security.
Hong Kong Monetary Authority (HKMA) Announces Progress of e-HKD Pilot Program
The Hong Kong Monetary Authority (HKMA) announced the progress of the e-HKD pilot program on Twitter. The initiative explores six use case categories including Web3 settlement, asset tokenization, and tokenized deposits. Mastercard is investigating the potential of e-HKD to facilitate transaction settlement on different blockchain platforms.
Study Shows Tokenization Can Affect Decentralization in DAOs
Researchers from the University of Texas at Austin and Princeton University conducted a study on how tokenization affects decentralization in decentralized autonomous organizations (DAOs). The study found that the challenges to autonomy are related to the reasons individual users have for participating. As a DAO grows, participants may view DAO tokens as investments, which can divert subsidies away from users and harm their participation. Tokenization shifts ownership from initial equity holders to a platform's users, but the tradeoff is that there's no single entity that can subsidize network participation, leaving the gates open for investors to treat purpose-driven DAOs like traditional stocks.
Mediobanca Tokenizes Mutual Fund Units in Italy
Italian bank Mediobanca has issued tokenized investment fund units within the Ministry for the Economy and Finance sandbox, becoming the first to propose this method of subscribing for instruments in Italy. The tokens mirror the conventional process for issuing and redeeming units in its “Mediobanca Global Multimanager 35” UCITS fund, with transactions logged using blockchain.
