CoinField’s Sologenic to Use XRPL for Tokenization of Non-Blockchain Assets

[solodeji]

https://heraldsheets.com/2019/10/15/coinfields-sologenic-to-use-xrpl-for-tokenization-of-non-blockchain-assets/

Ripple and its digital token, XRP has been welcoming a host of developments lately. This ranges from outstanding partnerships to being the top of investment round in Bitso, the largest cryptocurrency exchange in Mexico and Latin America...

[Julian_Williams]

Thanks - a good summary of something I technically do not altogether fully understand.
 

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The project will be based on the tokenization of stocks and fiat on demand. Sologenic is initiating a sophisticated environment that will facilitate investors, traders and on-demand tokenization of assets like stocks, ETFs and fiats using XRP Ledger.

As reported, a tokenized stablecoin of USD fiat or TSLA stock will be presented respectively as USDƨ or TSLAƨ. These aforementioned stablecoins will be available for trading and redeemable against XRP and SOLO on XRPL DEX and CoinField exchange.

Subsequently, CoinField will open thirty thousand stocks on Ripple’s XRP Ledger, purposely for cryptocurrency trading. The exchange’s CEO, Bob Ras stressed the benefits that can be derived in merging the traditional financial market (non-blockchain financial system) with digital assets.

He also pointed out that they will give their customers in CoinField the freewill to tokenize any asset on demand, with access to more 30,000 stocks and ETFs.

The update also related that CoinField’s customers can trade SOLO coin on its already functioning Centralized exchange. The coin will also be up for trading in the under-processing XRPL DEX and other top exchanges across the globe.

As of now, Sologenic is recognized as the most aspiring project established on XRPL. This is quite a vast means of pushing for the mainstream adoption of Ripple’s digital token, XRP, and blockchain technology as a whole.

 

 

Edited October 15, 2019 by Julian_Williams