Xalts Onboards Polygon for Enterprise-Grade RWA Tokenization Platform
Staff Writer • 2024-10-09
Partnership Set to Accelerate Blockchain Adoption Among Financial Institutions Singapore – Xalts, a leading provider of real-world asset (RWA) tokenization solutions, has announced a strategic collaboration with Polygon Labs, integrating the Polygon blockchain into its enterprise-grade platform, RWA Cloud. The integration is set to enhance the capabilities of Xalts’ plug-and-play tokenization solution, enabling financial institutions to build blockchain-based applications quickly, efficiently, and cost-effectively. Xalts' RWA Cloud platform offers a comprehensive suite of tools for institutions and governments seeking to develop digital asset platforms with support for blockchain, tokenization, and smart contracts. The platform is designed to address the complex requirements of enterprises, especially in heavily regulated environments. Its smart workflow core allows seamless integration with existing systems while ensuring compliance with internal and external regulations. Polygon Integration and Enterprise Benefits By incorporating Polygon’s blockchain infrastructure, Xalts will enable enterprise application developers to deploy blockchain applications on the Polygon network, known for its scalability and low transaction costs. This integration will offer financial institutions a streamlined process to implement blockchain solutions, with a specific focus on areas like trade finance, treasury management, and digital currency adoption. Supreet Kaur, Chief Operating Officer at Xalts, expressed enthusiasm about the partnership: "We are very excited to onboard Polygon. Deeper collaboration and integrations with blockchain partners enable regulated financial institutions to build their enterprise use cases in a seamless way. We look forward to accelerating the adoption of RWA tokenization by enterprises." Colin Butler, Global Head of Institutional Capital at Polygon Labs, echoed the sentiment, stating: "Integrating Polygon with Xalts RWA Cloud will speed up the enterprise adoption of blockchain and RWA tokenization use cases. We look forward to working closely with the Xalts team to enable financial institutions and fintechs with a plug-and-play solution." RWA Tokenization: Key to Financial Innovation Tokenizing real-world assets is seen as a critical development for the financial sector, enabling greater efficiency, liquidity, and transparency. Xalts’ RWA Cloud addresses many of the key challenges financial institutions face when adopting blockchain, including regulatory compliance and operational complexity. By leveraging Polygon’s highly scalable and low-cost blockchain network, Xalts aims to further expand its offering to financial services and enterprise developers. These solutions allow for seamless implementation of smart contracts, issuance processes, asset servicing, and transfers. Expanding Global Footprint The collaboration between Xalts and Polygon is part of a broader trend of increasing blockchain adoption within the financial services sector. The two companies have recently joined the Qatar Financial Centre (QFC) Authority’s Digital Assets Lab to test and commercialize real-world asset tokenization use cases, marking a significant step toward wider institutional adoption. Additionally, regulators such as the Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Singapore (MAS) have launched initiatives like Project Ensemble and Project Guardian, respectively, to explore the use of tokenization in asset management. These regulatory efforts align with the vision of Xalts and Polygon to drive digital innovation in the global financial system. Looking Ahead As blockchain technology continues to evolve, partnerships like that between Xalts and Polygon are expected to play a pivotal role in accelerating the adoption of RWA tokenization across financial institutions. With this integration, Xalts positions itself as a key player in the rapidly growing field of blockchain-based enterprise solutions, offering institutions a powerful, compliant, and efficient way to digitize real-world assets.
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