Xalts, a fintech firm providing real-time connectivity between financial services and businesses, is joining forces with Polygon, to bring its real-world asset tokenisation platform, RWA Cloud, to Polygon’s blockchain network.
Integrating Polygon within Xalts’ RWA Cloud platform enables enterprise application developers to deploy and build blockchain applications quickly and at a low cost using Polygon.
According to Xalts, RWA Cloud provides out-of-the-box solutions that enable financial services, governments, and other enterprise developers looking to build digital asset platforms for implementing blockchain, tokenisation, and smart contract applications for different use cases.
Xalts plans to further work alongside the Polygon Labs team on a host of institutional applications, including those around trade and supply chain finance, treasury management, and digital currency adoption.
“Deeper collaboration and integrations with blockchain partners enable regulated financial institutions to build their enterprise use cases in a seamless way,” explained Supreet Kaur, chief operating officer at Xalts. “We look forward to accelerating the adoption of RWA tokenisation by enterprises.”
Xalts works with financial services and businesses to provide connectivity by leveraging a modern technology stack, including APIs, blockchain, as well as 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.
Encouraging enterprise adoption of blockchain
Xalts’ RWA Cloud aims to address challenges that 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.
“Integrating Polygon with Xalts RWA Cloud will speed up the enterprise adoption of blockchain and RWA tokenisation use cases,” said Colin Butler, global head of institutional capital at Polygon Labs. “We look forward to working closely with the Xalts team to enable financial institutions and fintechs with a plug-and-play solution.”
This year has marked a significant step forward in the advancement of tokenisation in real-world application within the financial sector with regulators such as the Hong Kong Monetary Authority (HKMA) Project Ensemble for asset tokenisation and the Monetary Authority of Singapore (MAS) expanding the Project Guardian and Global Layer One (GL1) initiatives.
