Singapore-based fintech Xalts is joining forces with smart contracts platform Avalanche, in a move to support financial services, governments, and other enterprise developers in building digital asset platforms for implementing blockchain, tokenisation, and smart contract applications.
Xalts explained that, through its partnership with Avalanche, it will provide out-of-the-box solutions for various use cases such as the tokenisation of funds, securities, commodities and trade finance assets, digital currencies, and CDBCs.
Xalts works with financial services and businesses to provide connectivity by leveraging a modern technology stack. Its product suite includes solutions such as the RWA Cloud platform, which enables large institutions to build complex solutions on blockchains quickly.
With this collaboration, financial institutions can deploy custom blockchain networks that meet specific financial requirements and comply with local regulations using Avalanche’s L1 technology, orchestrate and automate their on-chain processes, tokenise digital assets and liabilities on the blockchain via smart workflows using Xalts’ RWA Cloud.
“Our collaboration with Xalts enables us to jointly offer RWA tokenisation technology infrastructure and solutions to financial services institutions, including banks, asset managers, and fintechs alike,” explained Morgan Krupetsky, head of institutions and capital markets at Ava Labs.
RWA Cloud addresses challenges enterprises and regulators face while implementing blockchain, such as retaining complex rules, workflows, processes, and user compliances mandated by internal or regulatory governance.
Tokenisation on the rise
Ashutosh Goel, CEO of Xalts, also said: “We are very excited to partner with Avalanche. This will make the development of blockchain and smart contract solutions much more accessible and accelerate enterprise use cases.”
Xalts also recently joined the Qatar Financial Centre (QFC) Authority Digital Assets Lab to test and commercialise use cases in real-world asset tokenisation.
The collaboration comes at a time when global regulators have launched tokenisation use cases, including the Hong Kong Monetary Authority which launched ‘Project Ensemble’ in March 2024, a wholesale central bank digital currency pilot with the aim to ultimately create an interoperable platform.
The Monetary Authority of Singapore (MAS) also launched ‘Project Guardian’, a multi-year initiative for asset tokenisation, while QFC introduced its QFC Digital Assets Framework.
