World

Onyx

Collateral Network

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/rwa-altcoins-dominate-crypto-market" data-wpel-link="internal" rel="noopener noreferrer nofollow">RWA Altcoins Dominate Crypto Market</a><br></p>
<p style="text-align: justify">In May, RWA altcoins stood out in the cryptocurrency market, achieving the most notable gains. Real World Asset (RWA) altcoins exhibited significant growth, outpacing other sectors within the crypto space. The driving force behind this surge is the involvement of major financial institutions, who are making strategic moves and setting ambitious goals in this area, thereby exciting <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>.</p>
<h2 id="what-role-does-fidelity-play">What Role Does Fidelity Play?</h2>
<p style="text-align: justify">The momentum in the RWA sector is not limited to cryptocurrencies alone; traditional financial powerhouses are also making their presence felt. One such example is Fidelity International, which has joined JPMorgan’s Tokenized Collateral Network (TCN) by tokenizing its money market fund using Onyx Digital Assets, a private blockchain network developed by JPMorgan.</p>
<h2 id="how-are-traditional-finance-giants-responding">How Are Traditional Finance Giants Responding?</h2>
<p style="text-align: justify">The participation of Fidelity International in this initiative dates back to their initial steps with Sygnum in 2019. Keerthi Moudgal, JP Morgan Onyx Digital Assets product manager, highlighted that Fidelity’s integration into TCN introduces a new and complex asset for collateral use through tokenization.</p>
<p style="text-align: justify">Stephen Whyman from Fidelity International emphasized the importance of this pilot program, noting that tokenizing their money market fund shares as collateral marks a critical initial step in leveraging this innovative technology. He pointed out the clear advantages for clients and the broader financial system, particularly in terms of enhancing efficiency, reducing transaction costs, and minimizing operational risks.</p>
<h2 id="key-insights-for-investors">Key Insights for Investors</h2>
<p style="text-align: justify">Investors and market participants can draw valuable insights from the recent developments in the RWA altcoin sector:</p>
<ul>
 <li>Increased involvement of major financial institutions can drive long-term growth in the RWA sector.</li>
 <li>Tokenization of traditional assets could streamline collateral processes and minimize costs.</li>
 <li>Partnerships with established financial entities may enhance the credibility and adoption of RWA altcoins.</li>
</ul>
<p style="text-align: justify">The advancements in RWA altcoins and their integration into traditional finance indicate a <a href="https://newslinker.co/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">promising future</a> for this segment. As more financial giants explore and adopt these technologies, the sector could witness sustained growth and broader acceptance.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/rwa-altcoins-dominate-crypto-market" data-wpel-link="internal" rel="noopener noreferrer nofollow">RWA Altcoins Dominate Crypto Market</a></h5>

RWA Altcoins Dominate Crypto Market

Table of Contents

BH NEWS

Other articles published on Jun 10, 2024

Ethereum Layer 2 Protocol Loopring Faces Security Breach in Smart Wallets!

Meme Coin Price Predictions: Here’s What to Expect from PEPE and FLOKI This Week

Soaring Presale Puts Algotech (ALGT) Ahead Of PEPE And JasmyCoin As Investors Rush In

DeFi Platform UwU Lend Undergoes Cyber Attack: $19.5 Million Lost

Charles Hoskinson Hints Towards New Cardano Upgrades For This Month

Expert Predicts XRP Will Reach $10K with BRICS Adoption and Tokenization

Join our free newsletter for daily crypto updates!