This alliance creates a nexus between traditional finance and blockchain innovation for the adoption of digital assets
LONDON, December, 2024( BUSINESS WIRE ): Archax , the UK’s first FCA-regulated digital securities exchange, broker and custodian, today announced a partnership with XDC Network , an EVM-compliant, enterprise-grade Layer-1 blockchain. Under this partnership, the two companies will combine the power of a regulated digital asset platform with innovative blockchain solutions to enable financial institutions to access tokenized Real World Assets (RWAs) efficiently and affordably, enabling them to expand digital asset adoption and revolutionize global financial markets.
The collaboration enables access to digital assets listed on Archax through the XDC Network Platform. Archax is a leading innovator in the industry and recently announced the addition of money market funds from multiple top asset managers to its platform. XDC is a network designed to enable and power worldwide payments and RWAs focused on scalability, security and interoperability.
“We are excited to partner with XDC Markets, a leader in the blockchain and tokenization space and a company that shares our vision of capturing the next wave of the tokenized economy,” said Keith O’Callaghan, Head of Structuring at Archax. “Digital asset innovation and evolution has been our focus from the beginning. The underlying blockchain DLT and tokenization technology are positioned to transform traditional financial markets by creating a new set of financial and trading instruments. As a regulated entity, we are perfectly positioned to offer institutional-grade products, services and infrastructure that connect TradFi to the digital world.”
Building momentum for tokenization of Real World Assets
According to a report by Standard Chartered, the market for Real World Assets tokenization is projected to reach USD 30.1 trillion by 2034. Demand for solutions such as money market fund tokenization is on the rise, allowing Fintech companies and businesses in the crypto space to access digital instruments that generate returns that can be used to transfer value while maintaining flexibility.
With the latest update, XDC Network now supports 2,000 transactions per second. “XDC Network was built with financial commerce in mind,” said Angus O’Callaghan, Head of Markets at XDC Network. “With the robust performance and functionality of our platform, we have the ideal protocol for Real World Assets tokenization for institutions. Within the digital asset space, these institutions are looking to work with regulated entities that can aspire to ensure transactions are transparent and effective,” added O’Callaghan. “Partnering with Archax, a trusted name in the industry, brings our shared vision to life.”
“Our goal has always been to deliver world-class solutions to our customers,” said O’Callaghan. “With XDC Network, we are opening the door to a diverse range of potential partners and broadcasters for our customers.”
Archax has been continuously recognized as a leader in the digital asset space. In October, the company received Ripple’s Innovation Award for its efforts in transforming capital market infrastructure and driving adoption in the digital asset space.
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