Mentioned:
Bringing real world assets onto the blockchain might be about to go to the next level.
What’s happening:
- Galaxy Digital (TSX: GLXY) has announced that their wholly owned subsidiary company GK8 has officially launched their technology platform for being able to seamlessly tokenize real world assets
- GK8’s new platform is known as Tokenization Wizard and is aiming to reduce the friction around tokenizing real world assets
The big idea:
- GK8 has designed a purpose built interface that is capable of handling the process of transforming traditional assets into digital tokens
- GK8’s Tokenization Wizard is capable of dealing with any real world asset, including real estate, art, luxury vehicles, wine and more
- GK8 has also developed new technology around cold security of these digital assets, enabling institutions to be able to issue smart contracts in a way that prevents them being vulnerable to cyberattacks
Going deeper:
- GK8’s platform is also capable of supporting decentralized finance projects, staking protocols and private blockchains
- Asset management companies DWS and Flow Traders will collaborate with Galaxy Digital to begin to use GK8’s new platform to manage fully collateralized Euro denominated stablecoins
