- The purpose of this agreement is to investigate the possibility of incorporating real assets (RWA) tokens into the credit line’s security mechanisms in Kucoin.
- As a result of this partnership, Kucoin will include RYT on its list of assets that are suitable for acting as collateral for lending.
- The endeavor that Kucoin and Alloyx work with is not only a pilot project at product level, but it also has the potential to contribute to the development of realistic frameworks and future standards.
A collaboration between the global Cryptocurrency exchange Kukoin And the digital financial infrastructure supplier Alloyx has been announced. The purpose of this agreement is to investigate the possibility of incorporating real assets (RWA) tokens into the credit line’s security mechanisms in Kucoin. The partnership begins with the incorporation of the RYT token, which was issued by a conventionally licensed asset management company, in Kucoin’s system outside the exchange (OES), which is used for credit management. On the basis of the comments from the market, the mechanism will gradually be optimized.
The Ryt Token is backed by the “Chinaamc USD Digital Money Market Fund,” Which is a tokenized product that was Issued by China Asset Management (Hong Kong) Limited, which is a wholly-owed substance of China Asset Management Co., ltd. In Addition to Being One of the First Chinese Asset Management Organizations to Launch Operations in Hong Kong, The Company Also Provides One of the First Tokenized USD Funds For Retail Investors in Asia. Subscriptions and redemption are also available in token form.
As a result of this partnership, Kucoin will include RYT on its list of assets that are suitable for acting as collateral for lending. In order to facilitate trading activity, token holders will send applications for credit lines within their platform accounts. Users have the ability to earn underlying returns while holding the token, installing Monet Market Fund Tokens along with other assets on the chain and loosening security -based asset users thanks to the structure.
Compliance was taken into account throughout the development of the asset chain, which forms the basis for RYT. Standard Chartered Bank in Hong Kong is responsible for the management of fund repositories, administration and unit registration. This provides protection at an institutional level within the framework of a conventional financial framework.
Kucoin CEO BC Wong pronounced:
“Kucoin Has Always Been Committee to Bridging Traditional Finance and the Crypto World through Innovation. This Collaboration with Alloyx to Explore Rwa Tokens as Collateral Mechanism’s exemplifies our dedication to providing users with. Trustworthiness and Risk Control – This Partnership Not Only Elevates The Platform’s Innovation Level But Also Delivers Reliable Asset Appreciation Opportunities to Global Users, Helping Them Manage Digital Assets More Confidently in dynamic markets.
Alloyx founder and CEO Thomas Zhu pointed out:
“Our focus has always been on how RWA, as an asset form, can deliver more authentic and sustainable financial features on the chain. This collaboration with Kucoin is a pragmatic attempt centered on” security mechanisms and scenario, “not only offers users more opportunities for asset use but also gives the industry opportunities for structural validity.”
The role that RWA plays in institutional design, risk management and the creation of assets is gaining momentum throughout the fintech industry, even though its assumption is still in its younger phases. The endeavor that Kucoin and Alloyx work with is not only a pilot project at product level, but it also has the potential to contribute to the development of realistic frameworks and future standards for implementation of RWA.
Kucoin has announced that it will continue to expand experimental conditions of similar kinds to give users all over the world more new value experiences.
Kucoin is a prominent Global Cryptocurrency platform founded in 2017 and continues to earn over 41 million users over more than 200 nations and regions internationally. In addition to giving access to more than a thousand digital assets and solutions, Kucoin was developed using groundbreaking blockchain technology. These include web3 wallet, location and futures trading, institutional services and payment processing. In addition to being a “Top 50 Global Unicorn” of Hurun and a “Best crypto apps & exchanges” by Forbes, Kucoin is also certified to ISO 27001: 2022 standard and devoted to safety, compliance and innovation.
A technological company that specializes in Stablecoin payments and access tokenization is Alloyx Limited an important participant in the Cryptocurrency industry. Alloyx is dedicated to connecting conventional bank payment systems with blockchain services. Together with this commitment, the company offers StableCoin payment services that are both safe and efficient, as well as asset coinage solutions. The organization’s goal is to establish itself as the most prominent supplier of RWA tokenization technology and StableCoin -Payment Infrastructure in Asia. In addition to providing services for Stablecoin wallets that are integrated into its platform, Alloyx also contains a variety of blockchain and payment solutions in the wallet and payment mediation platform. In addition, the Alloyx platform offers extensive solutions for storing StableCoins, payments, settlement, investments, foreign currency and asset coinage. These solutions are designed to encourage widespread assumption and application of techniques related to Stablecoin payments and tokenization.
