- The collaboration offers a plug-and-play solution for enterprise institutions launching RWA tokenization and building blockchain based technology applications on Avalanche.
- Avalanche and Xalts recently partnered with Misyon Bank to launch the Misyon Tokenization Platform in Turkey.
Singapore, 17 September 2024 – Xalts today announced a deeper collaboration with Avalanche to bring more enterprise-grade real world asset tokenization solutions for institutions. This will provide out-of-the-box solutions to enable financial services, governments, and other enterprise developers looking to build digital asset platforms for implementing blockchain, tokenization, and smart contract applications for different use cases such as the tokenization of funds, securities, commodities and trade finance assets, digital currencies, and CDBCs.
Xalts works with financial services and businesses to provide connectivity by leveraging a modern technology stack, including APIs, Blockchains, and 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.
RWA Cloud addresses challenges 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.
With this collaboration, financial institutions can deploy custom blockchain networks that meet specific financial requirements and comply with local regulations using Avalanche’s L1 technology, orchestrate and automate their on-chain processes, tokenize digital assets and liabilities on the blockchain via smart workflows using Xalts’ RWA Cloud.
“Our collaboration with Xalts enables us to jointly offer RWA tokenization technology infrastructure and solutions to financial services institutions, including banks, asset managers, and fintechs alike”, said Morgan Krupetsky, Head of Institutions & Capital Markets at Ava Labs.
Xalts has recently joined the Qatar Financial Centre (QFC) Authority Digital Assets Lab to test and commercialize use cases in real-world asset tokenization. The collaboration comes at a time when global regulators have launched tokenization use cases, including the Hong Kong Monetary Authority (HKMA) which launched Project Ensemble in Mar 2024, a wholesale central bank digital currency (wCBDC) pilot with the aim to ultimately create an interoperable platform, Monetary Authority of Singapore (MAS) launching Project Guardian – a multi-year initiative for asset tokenization, and Qatar Financial Centre (QFC) introducing the QFC Digital Assets Framework.
“We are very excited to partner with Avalanche. This will make the development of blockchain and smart contract solutions much more accessible and accelerate enterprise use cases”, said Ashutosh Goel, Chief Executive Officer, Xalts.
“We have an exciting roadmap ahead of us with Xalts as we jointly enable financial institutions across markets in their RWA tokenization journey!”, said Devika Mittal, Regional Head at Ava Labs.
Xalts is a financial technology firm providing enterprise grade, real time connectivity between financial services & businesses by leveraging modern technology stack including APIs, Blockchains & Orchestration layers to automate complex workflows. Xalts is backed by Accel and Citi Ventures and has a presence in Singapore, Hong Kong, India, UAE and UK.
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