RWA Tokenization Fuels Chintai’s Efforts, Leading to a 42% Surge in CHEX
CHEX, the native token of blockchain firm Chintai based in Singapore, has experienced a significant surge of 42% in the past 24 hours, propelling it to trending status in the U.S.
As of the time of writing, CHEX is being traded at $0.379, with a trading volume of $21.9 million over the past 24 hours. This surge in trading volume highlights the heightened market activity surrounding CHEX.
Chintai, which specializes in tokenizing real-world assets (RWAs) using blockchain technology, was established three years ago. Their approach involves bringing tokenized RWAs to popular public blockchains such as Ethereum, Solana, and Avalanche through network bridges.
The firm has obtained two licenses from the Monetary Authority of Singapore (MAS), allowing them to operate a regulated digital asset marketplace. This licensing enables Chintai to focus on a regulated and sustainable pathway that attracts institutional capital. They offer a wide range of assets, including bonds, real estate, and carbon credits, aiming to tap into a projected market cap of $16 trillion by 2030.
On February 8, 2024, Chintai launched Chintai Nexus, an all-in-one platform for tokenizing real-world assets. The application supports the complete trade life cycle of digital assets, including carbon credits, utility tokens, collectibles, and alternative assets.
These recent developments and the introduction of Chintai Nexus represent a significant stride in Chintai’s commitment to advancing the tokenization of real-world assets.
Taking advantage of this momentum, investment management firm BlackRock has partnered with asset tokenization firm Securitize to create the BlackRock USD Institutional Digital Liquidity Fund. While the specific assets held by the fund have not been disclosed, Securitize’s involvement suggests a focus on tokenizing real-world assets. This process involves representing ownership of various assets through blockchain tokens, which has gained attention for its potential to enhance asset liquidity and efficiency.
This move comes after BlackRock’s entrance into digital asset funds, including the listing of a spot-based bitcoin (BTC) exchange-traded fund (ETF) in January, which accumulated over $15 billion in assets under management. The company also filed for a spot ether (ETH) ETF last year.
In a January interview with CNBC, BlackRock CEO Larry Fink expressed his belief that BTC and ETH ETFs are just the beginning, and that tokenization is the future direction.
The tokenization of real-world assets is a growing sector that combines digital assets and traditional finance, aiming to achieve faster settlements and increased efficiency by placing traditional assets on blockchain platforms.
