Xalts onboards Polygon on its enterprise grade RWA tokenization platform for financial institutions
Xalts offers a plug-and-play solution for enterprise institutions looking at RWA tokenization and building blockchain based technology applications on the Polygon blockchain network. Xalts and Polygon Labs have recently also joined the Qatar Financial Centre (QFC) Authority Digital Assets Lab to test and commercialize use cases in real-world asset tokenization.
Singapore, Oct. 08, 2024 (GLOBE NEWSWIRE) — Xalts today announced a deeper collaboration to bring its enterprise-grade real world asset tokenization platform, RWA Cloud, to the Polygon blockchain network. RWA Cloud provides out-of-the-box 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 large institutions such as financial services and governments to quickly build complex solutions on blockchains.
By integrating Polygon within Xalts’ RWA Cloud platform, enterprise application developers will be able to deploy and build blockchain applications quickly and at a very low cost using Polygon. Xalts will further partner with the Polygon Labs team on a host of 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 enables 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 Supreet Kaur, Chief Operating Officer, Xalts.
This year has marked a significant step forward in the advancement of tokenization in real-world application within the financial sector with regulators such as Hong Kong Monetary Authority (HKMA) Project Ensemble for asset tokenization and 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 & RWA Tokenization use cases. We look forward to working closely with the Xalts team to enable financial institutions and fintechs with a plug and play solution”, said Colin Butler, Global Head of Institutional Capital at Polygon Labs.
Ends
About Xalts
Xalts is a financial technology firm providing enterprise grade, real time connectivity between financial services & businesses by leveraging modern technology stack including APIs, Blockchains & Orchestration layers to automate complex workflows. Xalts is backed by Accel and Citi Ventures and has a presence in Singapore, Hong Kong, India, UAE and UK. To learn more about Xalts, visit https://xalts.io/
CONTACT: For further information please contact the Xalts press office: Bilal Mahmood on [email protected] or +44 (0) 771 400 7257
