Ethereum

Onyx

Collateral Network

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/rwa-altcoins-lead-the-market-in-may/" data-wpel-link="internal">RWA Altcoins Lead the Market in May</a> 
In May, the sector that experienced the most significant rise in the cryptocurrency markets was RWA altcoins, surpassing others. RWA altcoins had justifiable reasons for their growth, outpacing many other crypto sectors. The steps taken by trillion-dollar financial giants in this area and their future goals excite <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. 
<h2 style="text-align: justify" id="fidelity-and-rwa">Fidelity and RWA</h2> 
Of course, cryptocurrencies are not alone in their efforts in the RWA field. Traditional finance’s major players are also preparing for the future with their networks. While we see various tokenized bond issuances on the <a href="https://en.coin-turk.com/ethereum-whales-sell-massive-amounts-of-eth-what-does-it-mean-for-the-market/" data-wpel-link="internal">Ethereum</a> network, JP Morgan’s solution in this regard is also attracting attention. A recent announcement mentioned tests conducted using JPMorgan’s Ethereum-based private blockchain network Onyx Digital Assets. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-360925 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/onyx-jpmorgan.png" alt="" width="874" height="375"> 
Fidelity International, a separate entity from the US-based Fidelity Management and Research, joined JPMorgan’s Tokenized Collateral Network (TCN) and tokenized its money market fund with Onyx Digital Assets. 
Fidelity took its first steps in this area with Sygnum in 2019. JP Morgan Onyx Digital Assets product manager Keerthi Moudgal stated; 
<blockquote> 
 “Fidelity’s participation in TCN brings MMF units to our network through tokenization. Fidelity is adding a new asset that is prohibitively complex to use in today’s collateral environment.” 
</blockquote> 
Regarding this new trial, Stephen Whyman from Fidelity International wrote; 
<blockquote> 
 “Tokenizing our money market fund shares for use as collateral is an important and natural first step in scaling our adoption of this <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">technology</a>. The benefits to our clients and the broader financial system are clear; particularly in terms of increased efficiency in meeting collateral requirements and reduced transaction costs and operational risk.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/rwa-altcoins-lead-the-market-in-may/" data-wpel-link="internal">RWA Altcoins Lead the Market in May</a></h5>

RWA Altcoins Lead the Market in May

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