Xalts Uses Polygon to Promote Blockchain Adoption

Xalts uses the Polygon blockchain to improve real-world asset tokenization, lower developer costs, and promote Blockchain adoption.

The Polygon blockchain has been integrated into the enterprise-level real-world asset (RWA) tokenization platform, RWA Cloud, of Xalts, a prominent financial technology firm.

The RWA Cloud offers solutions that assist organizations in developing platforms for managing digital assets. These platforms are designed to employ technologies such as blockchain, tokenization, and smart contracts for various purposes.

Xalts and Polygon Labs have recently become a part of the Digital Assets Lab at the Qatar Financial Centre Authority to evaluate the practicality of RWA tokenization in commercial scenarios. Integrating Polygon into Xalts’ RWA Cloud platform will enable developers to develop and deploy blockchain applications on Polygon at a reduced cost.

The financial technology company will intensify its partnership with Polygon Labs to create various institutional applications specifically designed for government entities and businesses.

Xalts’ RWA Cloud assists enterprises and regulators in surmounting various obstacles associated with implementing blockchain technology. It offers a variety of tools and features that enable organizations to utilize blockchain technology while adhering to internal and regulatory standards. This encompasses the Smart Workflow Core of the RWA Cloud, which integrates off-chain systems and intelligent contract libraries.

According to Supreet Kaur, the Chief Operating Officer of Xalts, partnerships such as these facilitate the development of applications tailored to regulated financial institutions’ unique requirements. She also mentioned that they anticipate the widespread adoption of RWA tokenization by enterprises. She stated:

“We are very excited to onboard Polygon. Deeper collaboration and integrations with blockchain partners enables regulated financial institutions to build their enterprise use cases in a seamless way. We look forward to accelerating the adoption of RWA tokenization by enterprises”

Accel and Citi Ventures endorse Xalt, which conducts business in numerous nations, including the United Arab Emirates, Singapore, Hong Kong, India, and the United Kingdom. The company automates intricate tasks by utilizing tools such as APIs, blockchains, and orchestration layers, which facilitate the real-time operation of large organizations.

According to Colin Butler, the Global Head of Institutional Capital at Polygon Labs, the partnership will expedite the adoption of blockchain and RWA tokenization in the enterprise by integrating Polygon with Xalts. Colin also mentioned that they plan to collaborate closely with Xalts to provide the financial institution with plug-and-play solutions. He stated:

“Integrating Polygon with Xalts RWA Cloud will speed up the enterprise adoption of blockchain & RWA Tokenization use cases. We look forward to working closely with the Xalts team to enable financial institutions and fintechs with a plug and play solution”

The momentum for asset tokenization is increasing

The momentum for asset tokenization has been increasing this year as crucial financial authorities such as the Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) actively promote and oversee tokenization projects.

The financial sector’s utilization of blockchain technology and the capabilities of asset tokenization could be improved through the collaboration between Xalts and Polygon.