R3 eyes RWA traction with TradFi-DeFi bridge on Solana

R3, a prominent enterprise blockchain technology firm, is looking to tap into the tokenised real-world assets market with a new bridge solution on Solana. The platform, which has reached a major milestone with $17 billion in tokenised RWAs recorded on-chain, announced the move on Thursday, Sept. 4. According to R3, the goal of launching a traditional finance-decentralised finance bridge on Solana is to bring the next trillion dollars worth of regulated assets on-chain. Solana blockchain key to R3’s tokenization quest As the global tokenized assets market grows, an increasing number of crypto native and mainstream companies look to seize on the opportunity with key solutions. On Thursday, R3 revealed its plan with a Solana-based bridge designed to enhance liquidity, transparency and efficiency in traditional financial markets. The platform targets bringing financial instruments like bonds, real estate and commodities on-chain. With over $17 billion in tokenized real-world assets, R3 boasts an achievement that emphasises its leadership in enterprise blockchain solutions. The company has already made forays with its Corda platform, which is widely adopted by financial institutions for secure and scalable asset tokenisation. Now R3 has also launched R3 Labs, a platform aimed at further accelerating the convergence of traditional finance (TradFi) and decentralised finance (DeFi). “For over a decade, we’ve helped institutions navigate the complexities of going on-chain. R3 Labs is the next step in accelerating that transformation. Permissionless infrastructure delivers liquidity, composability, and unstoppable innovation – and we’re making it easier for institutions to access it confidently and securely,” Richard G. Brown, chief executive officer of R3 Labs, said in a statement. R3 Labs will utilise the high-performance Solana blockchain, which is known for its low transaction costs, to create cohesive bridges for asset transfers and cross-chain functionality. This move is designed to enable institutional players to tap into DeFi’s innovative financial products while maintaining the regulatory compliance and security standards required in TradFi. To support the tokenization process as well as enhance connectivity between centralized financial systems, R3 will develop tools, protocols and infrastructure. Why choose Solana? By choosing Solana, R3 is aiming to capitalise on its scalability, which is capable of processing thousands of transactions per second and its growing ecosystem of DeFi applications. This initiative will drive broader adoption of blockchain technology in global finance, offering institutions new opportunities to optimise operations, the firm noted. David E. Rutter, Founder and CEO of R3, commented, “The launch of R3 Labs is a significant milestone in our mission to reduce friction around tokenization and help bring the next trillion dollars of institutional assets onto public blockchains.” Solana currently ranks as the sixth largest cryptocurrency ecosystem in the market, boasting a total value locked of over $11.5 billion in DeFi. Nearly $500 million worth of RWAs is currently on-chain on Solana. The post R3 eyes RWA traction with TradFi-DeFi bridge on Solana appeared first on Invezz