SEOUL, KOREA, April 28, 2023 (GLOBE NEWSWIRE) -- Given the recent interest in Real-World Asset (RWA) tokens from major industry players like Binance and Coinbase, ELYSIA, a protocol for tokenizing real-world assets, is excited to announce its collaboration with global cryptocurrency exchange BKEX to launch the first-ever RWA money pool on CEX.
RWA tokens are digital assets that represent real-world assets and are tokenized using blockchain technology. They record ownership of the underlying assets on the blockchain and ensure that the rights to the assets are structurally and legally reflected in the RWA tokens. This allows for autonomous trading in areas that previously required a broker or central authority, increasing transparency and reliability while also reducing transaction costs and accelerating transactions.
ELYSIA has partnered with BKEX to expand the RWA token industry by launching ELYFI's RWA money pool on BKEX, a global cryptocurrency exchange that operates in over 20 countries worldwide. With hundreds of thousands of daily trades and more than 2 million weekly users, this collaboration will allow BKEX users to invest in ELYSIA's RWA money pool and earn stable and high returns. Additionally, it will help diversify the range of financial products offered on CEX.
The RWA Money Pool differs from existing financial products on CEX, which rely on crypto assets with high volatility. Instead, the money pool generates revenues from real assets, resulting in relatively stable and high yields for investors. Additionally, the money pool is structured to provide legal protection for investors through ELYSIA's real asset tokenization system, which has the distinction of being the first in Asia approved as a DAO LLC in Wyoming, USA.
According to an ELYSIA representative, "This is an innovative effort to launch the world's first RWA money pool on CEX. We believe this collaboration will have a significant impact on not only the RWA token industry but also the cryptocurrency industry as a whole. ELYSIA's RWA Money Pool is a new product line not previously available on CEX, and we believe it will provide investors with new options. We plan to expand the RWA Money Pool to various platforms by collaborating with various exchanges and projects, not just BKEX."
ELYSIA is a unique project that offers a straightforward and viable solution for transforming illiquid assets, such as real estate, into liquid assets. This is achieved through a real-world asset tokenization protocol that converts tangible assets into RWA tokens, which can be utilized on the blockchain. Once converted, these RWA tokens can be used to borrow cryptocurrency or be liquidated on ELYFI, a decentralized finance (DeFi) platform developed by ELYSIA. This innovative system allows users to generate RWA tokens based on their real-world assets and leverage them in the rapidly expanding DeFi market.
Contact: Deokjae Seo
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