BNB Chain team launches an asset tokenization platform

What’s new? The BNB Chain blockchain team has launched a solution for tokenizing real-world assets (RWAs) such as securities, loans, commodities, real estate, and art. The platform offers a simple interface for executing the issuance, trading, and redemption of assets, as well as a compliance verification tool.

Источник: X.com

What else is known? The developers note that issuing digital tokens based on real assets will allow companies to optimize their operations, connect with investors around the world, and drive business growth. “Tokenization is a safe and efficient way to manage value in the digital world,” BNB Chain notes.

RWA tokenization involves converting ownership of physical assets into digital tokens on the blockchain. This increases the liquidity of tangible assets by enabling 24/7 trading on digital exchanges and offers a number of other benefits, including increased economic efficiency due to the absence of intermediaries. It also provides transparency and security enabled by the use of blockchain technology.

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Users do not need to have knowledge of programming and blockchain technology to use the BNB Chain platform. The creation of an asset takes place in four stages. In the first, a company or individual needs to confirm that the asset is suitable for tokenization and complies with regulations.

This ensures that digital tokens represent valid rights to the underlying real-world assets. The physical asset must also be deposited with a qualified custodian.

The second step is account setup. A crypto wallet that supports interaction with decentralized applications (DApps) must be linked to the BNB Chain platform. Currently, Trust Wallet, which is part of the ecosystem of Binance exchange, and MetaMask from Consensys are supported. The tied wallet will be used to pay fees for using the platform.

In the third stage, the user can create a token in a few clicks by connecting their wallet to Bitbond or Brickken providers. The asset is created using the BEP20 standard in the BNB Smart Chain network. The user can set parameters such as name, ticker, initial offering size, and token type: security token or DeFi protocol token.

At the final stage, a digital asset is directly issued with the help of one of the providers. It is assigned a contract address on the public network, which allows for a token sale with a preset value and cryptocurrency for payment.

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Bitbond, Brickken, Matrixdock, InvestaX, and TokenFi were the launch partners of the platform. It is designed to help small businesses grow and support the widespread adoption of blockchain technology to attract one billion new users to the Web 3.0 sector.

BNB Chain itself has over 4 million users across 4000 DApps. Its native BNB token is among the top 5 cryptocurrencies in terms of market capitalization at $84,6 billion. The asset is trading at $580, having added 2,1% overnight. Monthly growth amounted to 1,74%, and since the beginning of the year, the asset has risen in price by 86%.