Real World Asset (RWA) tokenization is making waves and the top industry players have their eyes on the next shift in the blockchain industry. At the Breakpoint 2024 event, Anthony Scaramucci from SkyBridge Capital said that tokenization will play a pivotal role in transaction verification, and Solana will play a critical role in the industry.
Scaramucci emphasized how asset tokenization can streamline financial systems, and revealed that the industry spends a massive $7 billion per year globally on transaction verification. He further included that by eliminating the need for third-party intermediaries, tokenization will reduce friction in transactions, making asset trading more seamless than ever.
Notably, Solana was lauded by Scaramucci for taking a lead in the tokenized assets space. He boldly stated, “The future is tokenized, and Solana is leading.”
Solana Reveals Key Partnerships
Moreover, at the Breakpoint 2024 event, Solana announced securing key partnerships with financial giants like Franklin Templeton and Citi Bank, cementing its position as a pioneer in the space. As part of this partnership, Franklin will leverage the SOL blockchain for its on-chain mutual fund. Citi Bank is also exploring the Layer-1 blockchain to process transfers along with other smart contract services. Recently, Scaramuucci has also been closely working on Kamala Harris’s crypto policies.
Also, WisdomTree, a $100B asset management giant has unveiled an exciting platform for accessing real-world tokenized assets. The WisdomTree Government Money Market Digital Fund offers users the opportunity to engage meaningfully with tokenized assets, marking a significant step forward in this rapidly evolving landscape. The tokens on the platform will be initially minted on the Ethereum blockchain.
SOL Rally Soon?
Solana’s price has exhibited strong recovery signs of more than 10% from the support levels of $130 this week. This could potentially be a favorable situation for Solana to kickstart a rally to reach $200. Moreover, veteran trader Peter Brandt also revealed that SOL is gearing up for a promising rally, with the potential of another 30% gain from here.
Currently, Solana is trading at $147.05 as of writing. Stay tuned for more updates.
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