Tokenised real-world assets are still increasing in value, despite the recent loss of almost $1 trillion in the value of the entire cryptocurrency market. These are digital representations of conventional financial instruments, such as money market funds and government bonds.
According to data, these tokenised assets’ overall value rose by almost 13.5% over the previous month. The most increase was seen by Ethereum, which was followed by other significant blockchain networks.
The largest group is still US government bonds that have been tokenised. Blockchain technology is currently being used by a number of major financial institutions to issue and administer these digital assets. In trading marketplaces, some tokenised funds are even being used as collateral.
This growth suggests that institutional investors are easily adopting blockchain based financial products. Despite the volatility of cryptocurrencies, cautious investors find tokenised assets, which generate yield, to be more stable and appealing.
The pattern demonstrates how blockchain technology is evolving for several other purposes besides coins.
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