A number of large banks and other traditional financial institutions (tradfi) are ready to use the Solana blockchain for their tokenization efforts.
R3, a British Blockchain technology developer for financial institutions, Associates with the Solana Foundation To bring the customers of the first and their real assets token in Solana.
Thanks to its blockchain platform, Corda, R3 holds more than $ 10 billion in assets and HSBC, Bank of America, Bank of Italy and the Singapore monetary authority among its participants.
Tokenization, the term for the decline in real assets such as stocks and obligations as digital tokens that can be negotiated on decentralized networks, is one of the main cases of use of blockchain technology attracting the attention and investment of the tradfi world.
A recent report by Boston Consulting Group and Crypto Payments Company Ripple said The tokenization market could reach $ 18.9 billions by 2033.
R3’s objective is to overeat the scale and liquidity of the tokenized asset ecosystem by making the assets available on a public blockchain like Solana.
The total value of the assets held on Solana can be overshadowed by Ethereum, but He treats more transactions and has more active addresses.
“As the most used public blockchain in the world, Solana … [is] The ideal basis for the next generation of regulated digital finance, “said R3 in an ad Thursday.