- Phlomis Finance plans to introduce tokenized RWAs on the Chromia mainnet in 2024.
- The platform intends to overcome scalability and accessibility issues in RWA investment.
Phlomis Finance intends to transform the investment landscape by launching tokenized real-world assets (RWAs) on the Chromia mainnet. This innovative platform aims to provide institutional-grade investment options to stakeholders. By leveraging Chromia’s relational blockchain structure, it ensures enhanced scalability, transparency, and real-time impact analytics. Phlomis Finance aims to make crypto assets in sectors like infrastructure, climate projects, and private loans more accessible. This approach allows a broader range of investors to participate in impactful investment opportunities.
According to McKinsey & Company, the RWA market is expanding significantly and is expected to reach $2 trillion by 2030. Major financial firms, including BlackRock and Bank of America, are increasingly recognizing the potential of integrating digital assets with traditional financial instruments such as debt, equity, and fiat currency. This growing acknowledgment reflects a broader trend toward the acceptance of digital assets in mainstream finance. As these firms explore new opportunities, they will significantly evolve the landscape of financial markets. This shift signifies a growing acceptance of digital assets within the mainstream financial landscape.
Phlomis Finance seeks to give investors more stability by combining stablecoin-based rewards with financial data. By handling scaling concerns, lowering transaction costs, and efficiently processing huge and complicated documents, the platform’s approach improves Chromia’s deals.
Utilizing Chromia’s Real World Assets Protocol
Chromia’s Real World Assets Protocol (CRWA) is a key component of Phlomis Finance’s business plan. Henrik Hjelte, co-founder of Chromia, highlighted that this protocol effectively addresses the challenges of tokenizing the real economy. His insights underscore the potential of Chromia to revolutionize how economic activities are digitized and managed. According to him, Chromia’s relational blockchain overcomes the drawbacks of conventional blockchain systems by offering improved scalability and the capacity to hold complicated documents on-chain.
Through Chromia’s infrastructure, Phlomis Finance ensures investors a safe platform for managing several complex projects. Scalability, high transaction costs, and restricted document access are just a few of the current issues that many RWA platforms are facing, according to Todd Miller, Managing Director of Phlomis Finance. replied that they are hoping to efficiently address these pain points and create a seamless experience for investors by leveraging Chromia’s infrastructure and CRWA.
The company plans on releasing its first tokenized items in the fourth quarter of 2024, and it is now in the process of building its website. Phlomis Finance aims to democratize access to large-scale investments that were previously just available to institutional players by concentrating on infrastructure and sustainability initiatives.
