Xalts Collaborates with Avalanche to Accelerate Real World Asset Tokenization for Financial Institutions
Staff Writer • 2024-09-17
Singapore – Xalts has announced an expanded collaboration with Avalanche to further facilitate the adoption of real-world asset (RWA) tokenization across the financial sector. This strategic partnership aims to deliver enterprise-grade, out-of-the-box solutions for institutions looking to build blockchain-based platforms to tokenize assets such as funds, securities, commodities, and digital currencies. The collaboration also extends to Central Bank Digital Currencies (CBDCs), creating a more accessible ecosystem for government and enterprise developers alike. This initiative gained momentum with the recent launch of the Misyon Tokenization Platform in Turkey. The project, developed in partnership with Misyon Bank, serves as a landmark in the rapid implementation of RWA tokenization solutions. Simplifying Blockchain for Financial Institutions Xalts is known for its extensive product suite designed to provide connectivity through a cutting-edge technology stack, including APIs, blockchain systems, and orchestration layers. Among its most innovative products is the RWA Cloud platform, a solution that enables large enterprises, particularly in financial services and government, to construct complex blockchain-based platforms quickly and efficiently. RWA Cloud addresses key pain points experienced by enterprises and regulators when adopting blockchain technology. These challenges include maintaining the integrity of complex workflows, regulatory compliance, and governance processes. With its Smart Workflow Core—a pivotal orchestration layer—RWA Cloud integrates smart contracts and off-chain systems to manage token issuance, servicing, and transfers seamlessly. Driving Adoption Through Custom Blockchain Networks Through its collaboration with Avalanche, Xalts will enable financial institutions to deploy custom blockchain networks tailored to meet specific financial and regulatory requirements. Using Avalanche's Layer 1 (L1) technology, enterprises can orchestrate and automate on-chain processes, tokenize digital assets, and streamline workflows through Xalts’ RWA Cloud solution. “Our collaboration with Xalts enables us to jointly offer RWA tokenization technology infrastructure and solutions to financial services institutions, including banks, asset managers, and fintechs alike,” said Morgan Krupetsky, Head of Institutions & Capital Markets at Ava Labs. Pioneering Use Cases Globally This collaboration comes as global regulators increasingly adopt RWA tokenization frameworks. Xalts recently joined the Qatar Financial Centre (QFC) Authority Digital Assets Lab, a hub for commercializing real-world asset tokenization use cases. The timing aligns with several groundbreaking initiatives, including the Hong Kong Monetary Authority’s Project Ensemble and Singapore’s Project Guardian, both aimed at advancing tokenization in their respective financial systems. The Qatar Financial Centre has also introduced its QFC Digital Assets Framework to promote digital asset innovations. “We are very excited to partner with Avalanche. This will make the development of blockchain and smart contract solutions much more accessible and accelerate enterprise use cases,” said Ashutosh Goel, CEO of Xalts. The roadmap for Xalts and Avalanche promises to revolutionize the integration of blockchain in financial services. “We have an exciting journey ahead of us with Xalts as we jointly enable financial institutions across markets in their RWA tokenization journey,” added Devika Mittal, Regional Head at Ava Labs. As the financial world increasingly turns toward blockchain technology for efficiency, transparency, and security, the partnership between Xalts and Avalanche stands as a significant milestone in the RWA tokenization movement, offering enterprises a faster, compliant, and scalable pathway into the digital asset economy.
See More Posts
Cardy
Copyright © 2021 Govest, Inc. All rights reserved.