Catenaa, Wednesday, November 13, 2024 – BNB Chain last week introduced a no-code tokenization service designed to make real-world asset tokenization more accessible for individuals and businesses.
This new service simplifies the process by incorporating compliance tools and offering step-by-step guidance for asset securitization and on-chain minting of tokens. The platform aims to reduce the cost, time, and effort typically involved in tokenizing physical assets.
The service targets small businesses, lowering the entry barriers for asset tokenization and providing the benefits of fractional ownership in assets like art, securities, and carbon credits.
It also facilitates cost efficiencies in customer loyalty programs and rewards systems, which can drive consumer engagement.
Tokenization of real-world assets is gaining momentum in the crypto space. BNB Chain’s launch is part of a broader trend that could see the market for tokenized assets reach a $30 trillion market cap by 2030, according to Standard Chartered.
Additionally, the market could encompass $600 billion in assets under management by the same year.
This growing trend in asset tokenization is evident in the stablecoin market, where firms are using tokenized assets to back their stablecoins, increasing demand for US Treasury bills. In November 2024, Singapore’s Monetary Authority, SWIFT, Chainlink, and UBS completed a successful pilot program that demonstrated tokenized fund settlement between institutions, highlighting tokenization’s potential in traditional finance.
