Phlomis Finance Partners with Chromia to Offer Tokenization of Real-World Assets
Phlomis Finance plans to use Chromias relational blockchain infrastructure and its custom-built Chromia Real World Assets Protocol (CRWA) to provide cutting-edge tokenization solutions for real-world assets. The project seeks to capitalize on a rapidly expanding sector and is being fostered by the Swedish blockchain firm ChromaWay.
The platform seeks to provide crypto investors with access to a variety of traditional financial credit, debt, and equity instruments that have hitherto only been available via well-established financial institutions by tokenizing real-world assets. This strategy aims to lower obstacles and facilitate access to large-scale, institutional-grade assets, such as private credit offerings, climate-focused projects, and international infrastructure projects. The platform will tokenize top funds in Europe and Asia with an emphasis on resilient investing. The platform will increase financial and impact outcomes as well as transaction on-chain transparency.
Financial markets are expected to undergo substantial changes as a result of the convergence of digital assets and conventional asset classes, including as debt, stocks, real estate, and fiat currencies. Big firms like BlackRock and Bank of America are already realizing how revolutionary this change has the potential to be.
Using Chromias Real World Asset Protocol is a key component of Phlomis Finances approach. There are clear benefits to this approach for tokenizing physical assets.
Henrik Hjelte, co-founder of Chromia, stated:
Chromias relational blockchain provides enhanced scalability and the ability to store complex documents on-chain, addressing limitations seen in traditional blockchain systems.
Todd Miller, Managing Director of Phlomis, emphasized the challenges that current RWA solutions face, noting:
Many existing platforms struggle with scalability, high transaction costs, and limited access to essential documents. By utilizing Chromias infrastructure and CRWA, we aim to effectively address these pain points and create a seamless experience for investors.
In Q4 2024, Phlomis Finance plans to offer its first tokenized products after launching its website to the public.
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
