What to know:
- R3, a U.K. developer of blockchain technology for financial institutions, is teaming up with the Solana Foundation to bring the former’s clients and their tokenized real-world assets to Solana. Because who doesn’t want their assets to be as trendy as avocado toast? 🥑
- R3 holds over $10 billion in assets and counts the likes of HSBC, Bank of America, Bank of Italy, and the Monetary Authority of Singapore among its participants. Yes, that’s right, they’re basically the Avengers of finance. 💰
- R3’s aim is to supercharge the scale and liquidity of the tokenized asset ecosystem by making the assets available on a public blockchain. Because why not throw a blockchain party and invite everyone? 🎉
A number of large banks and other traditional financial (TradFi) institutions are set to use the Solana blockchain for their tokenization efforts. Apparently, they’ve decided that being traditional is so last season.
R3, a U.K. developer of blockchain technology for financial institutions, is teaming up with the Solana Foundation to bring the former’s clients and their tokenized real-world assets to Solana. It’s like a financial Tinder, but for assets. Swipe right for liquidity!
Through its blockchain platform, Corda, R3 holds over $10 billion in assets and counts the likes of HSBC, Bank of America, Bank of Italy, and the Monetary Authority of Singapore among its participants. That’s a lot of zeros, folks. 🤑
Tokenization, the term for minting real-world assets such as stocks and bonds as digital tokens that can be traded on decentralized networks, is one of the principal use cases of blockchain technology attracting the attention and investment of the TradFi world. It’s like turning your grandma’s heirloom into a digital collectible. Who knew Grandma’s china could be so hip?
A recent report by Boston Consulting Group and crypto payments company Ripple said the tokenization market could reach $18.9 trillion by 2033. That’s trillion with a “T,” in case you were wondering. 💸
R3’s aim is to supercharge the scale and liquidity of the tokenized asset ecosystem by making the assets available on a public blockchain like Solana. Because if you’re going to tokenize, you might as well do it on the coolest blockchain in town.
The total value of assets held on Solana may be dwarfed by Ethereum, but it processes more transactions and has more active addresses. It’s like the little engine that could, but with more transactions and fewer coal stains.
“As the world’s most used public blockchain, Solana … [is] the ideal foundation for the next generation of regulated digital finance,” R3 said in an announcement on Thursday. So, if you’re not on Solana yet, what are you even doing with your life?
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2025-05-22 20:02