Xalts & Tezos Foundation team up to boost RWA tokenization

Xalts has partnered with the Tezos Foundation to advance institutions' adoption of tokenising real-world assets (RWA). This collaboration will provide out-of-the-box solutions for financial services, governments, and enterprises looking to implement blockchain, tokenisation, and smart contract applications.

Through this partnership, Xalts will offer a one-stop, plug-and-play solution for enterprise developers seeking to build applications on the Tezos blockchain. Etherlink, the non-custodial EVM Layer 2 powered by Tezos, is the latest addition to RWA Cloud, Xalts' enterprise application development and management platform.

Xalts' CEO, Ashutosh Goel, commented on the partnership: "We are very excited to partner with Tezos. This partnership will make the development of blockchain and smart contract solutions much more accessible and accelerate enterprise use cases."

Siddharth Singhal, Head of Business Development at Trilitech, Tezos R&D Hub, echoed the sentiment, "Tezos and Xalts will jointly enable faster adoption of blockchain and tokenisation by reducing the cost and time involved in application development and deployment by any type of developer, including large institutions such as governments, banks, and asset managers. With Tezos' commitment to institutional grade security, Tezos' smart-rollups with an industry-first non-custodial L2, upcoming native javascript L2, and this partnership, we have an exciting joint roadmap ahead of us!"

Xalts, recognised for its modern technology stack, including APIs, Blockchains, and Orchestration layers, will use its RWA Cloud platform to facilitate the swift building of complex blockchain solutions. These solutions target large institutions such as financial services and governments, offering applications in areas including the tokenisation of funds, securities, commodities, trade finance assets, digital currencies, and Central Bank Digital Currencies (CDBCs).

The RWA Cloud platform aims to address the challenges that enterprises and regulators face in implementing blockchain technology. Key features of the platform include the Smart Workflow Core, which manages process complexity while retaining compliance with internal or regulatory governance. The system also connects with smart contract libraries and multiple off-chain systems.

Under this collaboration, organisations will onboard blockchains through RWA Cloud's Smart Org Manager on Etherlink. This tool facilitates the setting up of hierarchical structures and user wallet access rights for on-chain and off-chain permissions, akin to traditional user management systems.

Etherlink, described as a Layer 2 blockchain powered by Tezos' smart roll-up technology, offers high-speed execution and lower transaction costs compared to other blockchain solutions. It is the industry's only non-custodial L2, distinguishing it in the marketplace.

The announcement comes as global regulators actively launch tokenisation use cases. Noteworthy initiatives include the Hong Kong Monetary Authority's Project Ensemble, a wholesale central bank digital currency pilot aimed at creating an interoperable platform; the Monetary Authority of Singapore's Project Guardian, a multi-year initiative for asset tokenisation; and the Qatar Financial Centre's establishment of a Digital Assets Lab.