Phlomis Finance has begun transforming the tokenization process of RWAs by leveraging Chromia’s Blockchain infrastructure and its Chromia Real World Assets Protocol. ChromaWay is the Swedish company that incubated this project. Its main goal is to open up access to assets of institutional quality, which are normally only available to established financial institutions.
Phlomis connects crypto-investors to financial instruments of large scale by tokenizing global infrastructure projects, climate initiatives and private credit offers. The strategy aims to promote “resilient investments” through accessing leading funds from Europe and Asia. It will also offer better transparency on the blockchain for financial transactions.
Chromia Relational Blockchain
Todd Miller, Managing Director at Phlomis says that RWA solutions are faced with many issues such as scalability, high transaction fees, and limited access to important documents. Phlomis Finance’s adoption of Chromia’s relational Blockchain infrastructure offers some important advantages to its users in terms of scalability and cost-efficiency, as well as document management.
Phlomis Finance intends to use Chromia’s infrastructure, CRWA and CRWA’s CRWA in order to manage and overcome these challenges. This will allow for a more seamless experience when investing. Phlomis Finance intends to launch the first tokenized product in 2024 Q4 after the website’s launch.
Potential tokenization adoption scenarios ( McKinsey & Company)
McKinsey & Company analysts predict tokenized financial assets will reach a $2 trillion market by 2030. Tokenization of traditional and digital assets will change financial markets. Some major players, such as Bank of America and BlackRock, are exploring its transformative potential.
