- Avalanche Foundation wants to promote tokenization on Avalanche with the $50 million program.
- The tokenized assets initiative is dubbed Avalanche Vista.
- A recent survey report suggested 77% of capital markets participants believe in tokenization of securities.
The Avalanche Foundation has announced an allocation of up to $50 million towards an initiative aimed at pioneering the future of tokenization on the Avalanche blockchain.
According to the foundation, the funds will be used to purchase tokenized assets, or “real world assets” minted on Avalanche.&
Today, the Avalanche Foundation introduces Avalanche Vista, a $50M initiative to pioneer tokenization on #Avalanche
Tokenization is poised to be one of the most impactful blockchain innovations of the next decade, and Avalanche is uniquely equipped to power these systems. pic.twitter.com/ZWy109CMCi
— Avalanche 🔺 (@avax) July 25, 2023
Eyeing tokenization on Avalanche
“Avalanche Vista,” is meant to demonstrate how tokenization is a valuable process in the creation of an on-chain digital representation of real world assets, the team noted. The allocation will help accelerate the growth of on-chain finance, with tokenization showcasing the critical role of blockchain across use cases such as asset issuance, settlement, and transfer.
Per the announcement, Avalanche Vista will apply across all types of assets, both traditional and blockchain-native. For the former, the program will consider equity, real estate, commodities, and credit.&
“Asset tokenization isn’t just the future of capital markets, it’s a critical driver of the present,” Ava Labs President John Wu said.&
He noted that the industry is seeing greater momentum from institutions building on-chain, and that Avalanche Vista is a milestone for Avalanche Foundation with regard to promoting this initiative.
Avalanche’s program follows a number of key developments within the asset tokenization space. Among these was the tokenization of interest in the KKR fund and the launch of tokenized assets marketplace IntainMARKETS.
A recent report by Security Token Advisors revealed that about 77% of participants across the capital markets see traditional securities being digitized over the next five to ten years. Meanwhile, the tokenized securities market is projected to grow to $20 trillion by 2030.
The post Avalanche Foundation allocates $50M to new tokenization program appeared first on CoinJournal.
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