CHEX, the proprietary token of Chintai, a blockchain company based in Singapore, has experienced a remarkable 42% surge in the past 24 hours, propelling it to trending status in the United States.
As of the current moment, CHEX is being traded at $0.379, with a trading volume of $21.9 million over the last 24 hours. This surge in trading volume indicates a significant increase in market activity for the token.
Chintai, which specializes in tokenizing real-world assets like real estate and CO2 certificates on popular public blockchains such as Ethereum, Solana, and Avalanche, was established three years ago. The company’s approach involves utilizing network bridges to bring tokenized real-world assets to these blockchains.
Having obtained two licenses from the Monetary Authority of Singapore (MAS), Chintai is authorized to operate a regulated digital asset marketplace. This regulatory approval allows Chintai to focus on attracting institutional capital through a variety of offerings, ranging from bonds to real estate and carbon credits, in a market projected to reach $16 trillion by 2030.
On February 8, 2024, Chintai introduced Chintai Nexus, an all-in-one platform for tokenizing real-world assets. This platform supports the entire lifecycle of digital assets like carbon credits, utility tokens, collectibles, and alternative assets.
The recent developments at Chintai, including the launch of Chintai Nexus, underscore the company’s commitment to advancing the tokenization of real-world assets.
Furthering this trend, investment management giant BlackRock has unveiled the BlackRock USD Institutional Digital Liquidity Fund in collaboration with Securitize, a prominent asset tokenization firm based in the British Virgin Islands.
While the specific assets to be held in 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, a practice gaining popularity for its potential to enhance asset liquidity and efficiency.
This move by BlackRock follows its entry into digital asset funds, including the launch of a spot-based bitcoin (BTC) exchange-traded fund (ETF) in January, which amassed over $15 billion in assets under management. The company also filed for a spot ether (ETH) ETF last year.
BlackRock CEO Larry Fink emphasized in a January interview with CNBC that BTC and ETH ETFs are just the beginning steps towards tokenization, indicating a shift towards this direction in the future.
The tokenization of real-world assets is an emerging sector at the crossroads of digital assets and traditional finance, aiming to streamline settlements and improve efficiency by placing traditional assets on blockchain platforms.
For more information, visit K33 Research: Chainlink is the top asset showing a growing trend in tokenization for real-world assets.