Real-world assets platform TVVIN leverages Polkadot to scale gold tokenization News ▸ Polkadot ▸ Technology
Real-world assets platform TVVIN leverages Polkadot to scale gold tokenization
The RWA sector is seeing strong interest from traditional financial institutions.
2 min read
Updated: May. 30, 2024 at 3:18 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Real-world assets (RWAs) tokenization platform TVVIN has expanded to Polkadot as part of its strategy to become an omni-chain platform.
In a May 29 statement, the platform revealed it was launching its London Bullion Market Association (LBMA)-certified gold token (VVG) and its platform utility token (TVVIX) on Polkadot.
Why Polkadot?
By expanding to Polkadot, TVVIN aims to increase the availability of its RWA tokens across various blockchains, boosting flexibility and integration capabilities. This strategic shift will also enable easier integration with other chains like Cardano.
Darko Mijic, CPO at TVVIN, further explained:
“This move leverages Polkadot’s strengths to enhance scalability, security, and interoperability for our RWA tokenization platform.”
The expansion to Polkadot also offers TVVIN several advantages, including comprehensive asset management, enhanced stability and security, low transaction fees, Polkadot-native USDC and USDT, seamless integration, EVM compatibility, wallet support, multi-signature solutions, and trustless bridges.
TVVIN plans to leverage Polkadot’s unique shared system to achieve scalability and interoperability. This will broaden the utility and adoption of its tokens on Polkadot. It added:
“With 50 parachains currently operating on Polkadot, our RWA tokens can be attractive to many parachains and decentralized applications (dApps) running on those parachains as treasury and DeFi assets.”
RWA tokenization
TVVIN’s recent move highlights RWA tokenization trends in the digital asset industry. Major crypto firms, global banks, and asset management giants have been striving to digitize traditional financial instruments such as bonds, funds, and credit.
Chainlink executive Niki Ariyasinghe recently highlighted that major financial institutions are gearing up to leverage the vast opportunities of tokenization. These institutions are moving from successful testnet pilots to launching their platforms on the mainnet, setting the stage to support trillions of dollars in tokenized assets.
A report by asset manager 21.co predicted that the RWA market could reach $10 trillion by 2030. According to data from CryptoSlate, the total market cap of assets in the RWA sector currently stands at $41.2 billion.
Disclaimer: CryptoSlate has received a grant from the Polkadot Foundation to produce content about the Polkadot ecosystem. While the Foundation supports our coverage, we maintain full editorial independence and control over the content we publish.
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Posted In: Polkadot, Technology
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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