The Assetera team intends to tap into smart contracts developed on Ethereum’s scaling solution Polygon (POL) to ensure sustainable growth prospects.
Assetera, a fully regulated platform focused on digitizing assets on blockchain technology, has announced a strategic partnership with Polygon POL $0.20 24h volatility: 0.8% Market cap: $1.76 B Vol. 24h: $77.54 M , a top-tier Ethereum (ETH)-based scaling solution to launch Europe’s first marketplace for real-world assets (RWA). The Austria-based platform will tap into the Polygon network to launch smart contracts that enable investors to trade tokenized financial instruments throughout the year.
Furthermore, the Assetera platform intends to aggregate liquidity for tokenized real-world assets on the blockchain without relying on clearinghouses to facilitate trades. According to Thomas Labenbacher, the CEO at Assetera, the marketplace on the Polygon network will rely on stablecoins to settle trades through atomic swaps.
As a result, the Assetera marketplace platform will democratize traditional financial services on the blockchain in a regulated manner.
“This opens up a world of possibilities for asset owners and investors so that there is a level of liquidity and accessibility previously unimaginable. The Polygon Proof-of-Stake mechanism ensures that we can scale this revolutionary platform sustainably without compromising on security or regulatory compliance,” Labenbacher noted.
As a Europe-based firm, Assetera is regulated under the Markets in Crypto-Assets (MiCA) in addition to holding a comprehensive Markets in Financial Instruments Directive 2018 (MiFID II) license. The Austrian Financial Market Authority has also issued Assetera with a VASP license to operate seamlessly amid the mainstream adoption of digital assets.
Furthermore, the Assetera platform leverages smart contracts to bridge the web3 ecosystem with traditional technology.
Why Assetera Opted for Polygon Network
The Ethereum ETH $1 822 24h volatility: 1.2% Market cap: $220.23 B Vol. 24h: $17.41 B network has grown to a major tokenization network fueled by institutional investors seeking to scale their business operations globally. The development of fiat-backed stablecoins, tokenized stocks, and bonds has significantly helped the Ethereum ecosystem lead in total value locked.
As of this report, the Ethereum network had a total of $49 billion in TVL and over $84 billion in stablecoins market cap.
However, the use of Ethereum directly to tokenize real-world assets was limited due to its low throughput compared to its competitors. In a bid to navigate the headwinds, the Ethereum core developers introduced layer two (L2) networks, where the Polygon network has significantly thrived.
According to the latest market data, the Polygon network has a TVL of about $911 million and a stablecoins market cap of around $2 billion.
Through the use of zero-knowledge (ZK) technology, the Assetera platform is guaranteed security and scalability.
Already, the Assetera platform has partnered with top-tier web3 projects to ensure deep liquidity and seamless trading. Some of the projects that have partnered with the Assetera platform include DigiShares, CashLink, Tokeny, SignD, Stobox, Atlas One, and Talium Assets, among others.
The firm has already listed several assets, with more expected in the near term amid the mainstream adoption of digital assets and web3 projects.
next