Tokenization enabler Tokeny and blockchain entity HBAR Foundation have revealed a partnership pertaining to the digitization of Real World Assets (RWAs).
The collaboration is said to deliver a “compliant, scalable, and green institutional tokenization on the Hedera Network. The agreement is described as a “major milestone” in advancing institutional adoption of blockchain technology for regulated financial products. The two sides are already working together on the non-profit ERC-3643 Association.
Hedera is a performance-focused distributed ledger technology that is designed to support the needs of institutions or big firms. A transaction takes just 2.9 seconds on Hedera at a cost of just $0.0001. Hedera claims to be the most energy-efficient blockchain available at 0.000003 kWh per transaction, or “hundreds to thousands of times less than other networks.”
Sabrina Tachdjian, Director of Fintech and Payments at The HBAR Foundation, said the collaboration reinforces Hedera’s leadership in compliant financial products.
The partnership claims that institutions can now bring assets onto Hedera in just a few weeks using Tokeny’s white-label tokenization platform, or via their on-chain finance APIs into their existing systems.
Tokeny is one of the leading tokenization platforms that supports regulated financial assets.
