Korean blockchain firm Klaytn Foundation, which manages the global Layer 1 public blockchain, Klaytn, unveiled new partners set to join its Real World Asset (RWA) tokenization initiative. The partners, CREDER, a financial platform focused on digital assets backed by physical gold, and Tokeny Solutions, which helps businesses issue RWAs while maintaining full compliance, join the program in an effort to create positive social change by leveraging blockchain technology.
In its latest roadmap, Klaytn Foundation declared its plans to transform blockchain by implementing a foundational layer of tomorrow’s on-chain world that positively affects society. To kickstart this goal, Klaytn launched the RWA tokenization program to facilitate greater financial responsibility across Asia and the rest of the world.
CREDER and Tokeny Solutions join the program, succeeding ELYSIA, as the newest partners in the RWA tokenization initiative. ELYSIA, a protocol that provides an easy and convenient way to tokenize traditional real-world assets including real estate, mortgage bonds, and e-commerce accounts receivables, joined the initiative in July this year.
Klaytn Layer 1 blockchain is designed to offer the lowest transaction latency and fees, enterprise-grade reliability, and a developer-friendly environment amongst competing blockchains. This provides a suitable environment for users to host tokenized assets, from real estate to precious metals and artwork. The platform allows businesses to automate ownership management, fractionalize high-value assets and record immutable transaction history on the blockchain to improve transparency, accessibility, and security.
Lastly, the Klaytn Foundation also announced plans to add more robust infrastructure to support a broader range of RWAs. Some of the developments expected to launch in the coming year include
Klaytn Foundation also aims to support its RWA tokenization initiative by providing solutions for token issuance, asset storage, trading, and a new token standard for RWA’s compliance.
With the platform generating more than 1 billion transactions from over 300 decentralized applications, the latest initiative could help onboard more businesses to Web3 and showcase the technology’s ability to transform global markets, the team statement concluded.
