This September 1 article from Galaxy Digital reveals that the combined value of on-chain real world assets (RWAs) have reached an all-time high of $3.1 billion USD, as of September 1st 2023.
These RWAs represent a variety of sectors, including gold and precious metals, treasuries, real estate, and private credit. The rapid growth of real world asset space stands in contrast to the decline in on-chain value and liquidity seen across the broader crypto market since the highs reached in 2021.
ChromaWay found itself well ahead of this trend, working on blockchain-based tokenization for enterprise applications over the last several years. These efforts led naturally to the recent completion of the Ledger Digital Asset Protocol, or LDAP. An EVM based version of the protocol is already in use through partners like Bloqhouse, Immotokens, and Fund.me, with a Rell based version designed for Chromia deep in development.
We asked Todd Miller, ChromaWay’s Vice President of Business Development and Partnerships, and a key contributor to the LDAP initiative for his thoughts on the ongoing success of RWAs:
"What's particularly interesting is the growth across asset classes. This illustrates the enthusiasm that issuers and investors have for a more secure, transparent, and less costly method to support the capital supply chain. Our Ledger Digital Asset Protocol can support all of these asset classes and we are excited to participate in this accelerated evolution of capital markets in the coming years."
For a deeper dive into this topic, check out Todd’s recent article titled “The Emerging Defi Capital Stack for Real Estate”, which can be found posted on his LinkedIn profile as well as the recent FIBREE Industry Report.
If you already operate a capital raising platform or have plans to develop one, we invite you to contact us to explore partnership opportunities and the implementation of the LDAP protocol.
Modern society runs on data and every online service you’re using is built upon underlying databases - ranging from your online bank to music streaming and gaming. Chromia is a relational blockchain - a combination of a relational database and a blockchain - making it easy to develop user-friendly decentralized apps for almost any industry, including DeFi, NFTs, gaming, and more.