CHEX

Chintai

Nexus

BlackRock

CHEX, the native token of Singapore-based blockchain firm Chintai has surged 42% in the last 24 hours as it gained trending status in the U.S. 
At the time of writing, CHEX was trading at $0.379 with a 24-hour trading volume of $21.9m million. The latest surge in trading volume showcases its heightened market activity. 
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 CHEX 24-hour price chart | Source: <a href="https://coinmarketcap.com/currencies/chex-token/" target="_blank" rel="">CoinMarketCap</a>
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Chintai which specializes in the blockchain-based tokenization of real-world assets (RWAs), such as real estate and CO₂ certificates, came into inception three years ago. Their approach involves bringing tokenized RWAs to popular public blockchains like <a href="https://crypto.news/tag/ethereum/" rel="">Ethereum</a>, <a href="https://crypto.news/tag/solana/" rel="">Solana</a>, Avalanche, etc., using network bridges. 
The firm has secured two <a href="https://www.prnewswire.com/news-releases/chintai-awarded--recognised-market-operator-licence-from-the-monetary-authority-of-singapore-301658445.html" target="_blank" rel="">licenses granted</a> by the Monetary Authority of Singapore (MAS), which permit the functioning of a regulated digital asset marketplace. The licensing allows Chintai to focus on a regulated, sustainable pathway that appeals to institutional capital. This encompasses a wide array of offerings, from bonds to real estate and carbon credits, aiming to tap into a substantial market cap forecasted to reach $16 trillion by 2030. 
On Feb. 8, 2024, Chintai <a href="https://www.prnewswire.com/news-releases/chintai-nexus-launches-all-in-one-real-world-asset-platform-302056891.html" target="_blank" rel="">launched </a>an all-in-one real-world asset tokenization platform called Chintai Nexus. The application supports the full trade life cycle of real-world digital assets, such as carbon credits, utility tokens, collectibles, and alternative assets. 
Chintai’s recent developments and the launch of Chintai Nexus signify a significant step in the firm’s commitment to advancing the <a href="https://crypto.news/floki-up-13-as-devs-launch-rwa-platform/" rel="">tokenization of real-world assets</a>. 
Building on this momentum, the investment management firm Blackrock has <a href="https://crypto.news/blackrock-digital-asset-ethereum/" rel="">announced </a>the creation of the BlackRock USD Institutional Digital Liquidity Fund in partnership with Securitize, a leading asset tokenization firm from the British Virgin Islands. 
 You might also like: <a href="https://crypto.news/rio-token-up-more-than-190-as-the-hype-around-rwas-takes-center-stage/" rel=""> RIO token up more than 190% as the hype around RWAs takes center stage </a> 
While the specific assets the fund will hold remain undisclosed, Securitize’s involvement hints at a focus on tokenizing real-world assets (RWA). The process involves representing ownership of a broad array of assets through a blockchain token, a practice gaining traction for its potential to enhance asset liquidity and efficiency. 
The move follows BlackRock’s foray into digital asset funds, listing a spot-based <a href="https://crypto.news/tag/bitcoin-etf/" rel="">bitcoin (BTC) exchange-traded fund (ETF)</a> in January, which amassed over $15 billion of assets under management. The company also filed for a spot ether (ETH) ETF last year. 
BlackRock CEO Larry Fink said in a January <a href="https://www.youtube.com/watch?v=se1bcqMYg8g" target="_blank" rel="">interview </a>with CNBC that BTC and ETH ETFs “are just stepping stones towards tokenization and I really do believe this is where we’re going to be going.” 
Tokenization of real-world assets is a growing sector in the intersection of digital assets and traditional finance that involves placing traditional assets on blockchain rails in pursuit of faster settlements and increased efficiency. 
 Read more: <a href="https://crypto.news/k33-research-chainlink-is-best-asset-that-shows-growing-tokenization-for-rwa/" rel=""> K33 Research: Chainlink is best asset that shows growing tokenization for RWA </a>

CHEX surges 42% as Chintai focus efforts on RWA tokenization

crypto.news

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