Recently Xalts announced a deeper collaboration to bring its enterprise-grade real-world asset tokenization platform, RWA Cloud, to the Polygon blockchain network. RWA Cloud provides solutions to enable financial services, governments, and other enterprise developers looking to build digital asset platforms for implementing blockchain, tokenization, and smart contract applications for different use cases.
Xalts works with financial services and businesses to provide connectivity by leveraging a modern technology stack, including APIs, blockchains, and orchestration layers. Its product suite includes solutions such as the RWA Cloud platform, which enables financial services and governments to build complex solutions on blockchains quickly.
By integrating Polygon within Xalts’ RWA Cloud platform, enterprise application developers can deploy and build blockchain applications quickly and at low cost using Polygon. Xalts will further partner with the Polygon Labs team on several institutional applications, including those around trade and supply chain finance, treasury management, and digital currency adoption.
Xalts’ RWA Cloud addresses challenges enterprises and regulators face while implementing blockchain, such as retaining complex rules, workflows, processes, and user compliances mandated by internal or regulatory governance. Enterprises can manage process complexity associated with events like issuance, servicing, or transfers by leveraging RWA Cloud’s Smart Workflow Core, an orchestration layer that connects with smart contract libraries and multiple off-chain systems.
“We are very excited to onboard Polygon. Deeper collaboration and integrations with blockchain partners enable regulated financial institutions to build their enterprise use cases in a seamless way. We look forward to accelerating the adoption of RWA tokenization by enterprises.”, said Xalts COO Supreet Kaur.
Xalts said 2024 has marked a significant step forward in the advancement of tokenization in real-world application within the financial sector with regulators such as the Hong Kong Monetary Authority (HKMA) Project Ensemble for asset tokenization and the Monetary Authority of Singapore (MAS) expanding the Project Guardian and Global Layer One (GL1) initiatives.
“Integrating Polygon with Xalts RWA Cloud will speed up the enterprise adoption of blockchain and RWA Tokenization use cases. We look forward to working closely with the team to enable financial institutions and fintechs with a plug-and-play solution,” said Colin Butler, global head of institutional capital at Polygon Labs.