FinNexus Building Tokenized Asset Platform on XRP Ledger
FinNexus, a fintech company that’s developing an open-source finance protocol, says it plans to build a tokenized asset platform on the XRP Ledger.
Billed as a “one-stop shop protocol” based on the three pillars of the DeFi movement (diversity, value, and convenience), the company is working to create marketplaces that offer digital tokens representing real-world assets such as stocks and exchange-traded funds. In its 2020 roadmap, the company says it will use the XRP Ledger to “issue tokenized assets.”
Although the backbone of FinNexus is built on the public blockchain platform WanChain, the company says it plans to work with as many open protocols as possible to expand its reach.
“Cooperation and partnership are crucial to the success of our business. In 2020, our focus will be to partner with other public chains, in addition to Wanchain (WAN), to connect not only in protocols but also in business and communities.
Partners with quality assets, either on-chain or off-chain, and partners capable of underwriting these assets will be the key users of the FinNexus protocol clusters.”
FinNexus is looking to launch a testnet of its decentralized platform by the fourth quarter of this year.