Top Institutions Point to Blockchain Interoperability as Critical to Asset Tokenization
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DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold’s editorial content. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please . New York, NY, June 6th, 2024, FinanceWire Citi, Deutsche Bank, Mastercard, Northern Trust and Centrifuge provide insights on paths to secure, multichain asset tokenization for report produced by Axelar Foundation and Metrika A group of leading financial institutions and Web3 innovators have contributed to an in-depth paper on a path to achieve interoperability for tokenized assets across public blockchains, private blockchains, and legacy systems. Published today, “Institutional Interoperability: How Financial Institutions Navigate a Multichain World” addresses how to achieve increased accessibility and liquidity for tokenized assets, with flexibility, privacy, transparency and scalability. Tokenized assets are on-chain representations of financial assets such as real estate, currencies and securities. A recent report authored by Boston Consulting Group and market operator ADDX predicts multi-trillion-dollar value in tokenized assets within the decade. All institutions participating in the paper emphasized the need for interlinked network models that embrace multiple blockchains, as well as traditional systems, in order to realize this potential. Financial institutions Citi, Deutsche Bank, Mastercard and Northern Trust contributed insights to the paper in spotlight sections. Topics covered include descriptions of their projects in asset tokenization, points where they have implemented multiple blockchains, and potential requirements and challenges for blockchain interoperability. Web3-native innovators Axelar Foundation, Centrifuge and Metrika also contributed to the paper. The paper acts as a road map for financial institutions developing tokenized-asset opportunities and facing a complex array of blockchains public and private, alongside stringent requirements imposed by clients and regulations. It was authored by blockchain analyst Emily Parker, based on a framework laid by the Monetary Authority of Singapore’s Project Guardian…
Filed under: News - @ June 6, 2024 2:20 pm