What happened?
BNB Chain, the blockchain supported by Binance, the world’s largest cryptocurrency exchange, has launched a one-stop tokenization service to help individuals and enterprises enter the RWA (Real World Asset Tokenization) space.
Users can convert physical assets such as real estate, artwork, and commodities into tradable tokens issued on the BNB Chain. Enterprises can also issue their own tokens through the platform.
By 2030, the RWA market size may reach between $2 trillion and $10.9 trillion. This solution aims to help companies reduce cost input and quickly enter the market.
BNB Chain launches a one-stop tokenization service
BNB Chain, the blockchain supported by Binance, the world’s largest cryptocurrency exchange, has launched a one-stop tokenization service to help individuals and enterprises enter the RWA (Real World Asset Tokenization) space.
RWA means tokenizing tangible and intangible assets in the real world, such as watches, real estate, wine, cards, and bonds, creating a virtual counterpart in the on-chain world with value linked to the original asset.
According to the BNB Chain announcement, the service introduces compliance tools and provides simple and clear guidance steps, including asset securitization and on-chain token minting, allowing users to complete the tokenization process without technical background.
The tokenization service includes physical asset tokenization and company tokenization. The former allows users to convert physical assets such as real estate, artwork, and commodities into tradable tokens issued on the BNB Chain. In this way, these traditionally indivisible assets can be split into several tokens and traded in the market, enhancing asset liquidity.
The company tokenization service allows enterprises to issue their own tokens through the platform, becoming an innovative business operation method for enterprises. Whether using tokens for loyalty programs or membership systems, it can diversify user participation experiences.
BNB Chain’s one-stop tokenization service can reduce resource input for small and medium-sized enterprises, lowering the threshold for entering the blockchain market. BNB Chain hopes to attract more new users into its ecosystem through this service, promoting large-scale adoption of Web3 technology.
Why is the RWA field worth attention?
In fact, BNB Chain’s tokenization solution is just one of the many innovations driving the “on-chain asset” movement.
Last month, the DeFi (Decentralized Finance) platform Tren Finance released a report on “Real World Asset Tokenization,” indicating that by 2030, the market size may reach between $2 trillion and $10.9 trillion, becoming a significant growth area in the fintech market.
Therefore, in addition to native Web3 companies, many traditional financial institutions are also actively laying out in the tokenization market. For example, financial giant Visa announced in October the launch of a new platform, Visa Tokenized Asset Platform (VTAP), to help financial institutions mint, destroy, transfer, and settle stablecoins and central bank digital currencies on the blockchain.
VTAP will provide a complete set of infrastructure for institutional investors and central banks, allowing banks to let customers purchase tokenized goods or treasury bills and experience real-time settlement on the blockchain, shortening the transaction time of traditional finance.
Besides Visa, companies such as BlackRock, Franklin Templeton, J.P. Morgan, and even central banks of various countries have already ventured into exploring real-world asset tokenization.
Jimmy Zhao, a senior solutions engineer at BNB Chain, pointed out that the one-stop tokenization service by BNB Chain aims to help enterprises enhance asset liquidity and create new revenue streams through tokenization solutions, boosting brand competitiveness in the digital economy.
Source:
Cointelegraph,
BeInCrypto,
BNB Chain