A number of large banks and other traditional financial institutions (tradfi) are set to use the Solana blockchain for their tokenization efforts.
R3, a UK developer of blockchain technology for financial institutions, is dating the Solana Foundation To bring the former clients and their tokenized real-world assets to Solana.
Through its blockchain platform, Conda, the R3 holds more than $ 10 billion in property and counts the preferences of HSBC, Bank of America, Bank of Italy and the Monetary Authority of Singapore to its participants.
The tokenization, the term for real-world assets such as stocks and bonds as digital tokens that can be exchanged with decentralized networks, is one of the major cases of using blockchain technology that attracts the attention and investment of the Trade world world.
A recent report by Boston Consulting Group and Crypto Payment Company Ripple said The tokenization market can reach $ 18.9 trillion by 2033.
The purpose of the R3 is to supercharge the scale and liquidity of the tokenized asset ecosystem by making assets available on a public blockchain like Solana.
The total amount of genitals held in Solana may be dwarfed by Ethereum, but It processs more transactions and has more active addresses.
“As the most used public blockchain in the world, Solana … (IS) is the perfect foundation for the next generation of regulated digital finance,” R3 said in an announcement on Thursday.
