Wanchain-Backed FinNexus Expands to XRP Ledger for Tokenizing Real-World Assets

DeFi platform FinNexus and crypto exchange Bitrue announced on April 27 their joint initiative to incorporate asset tokenization services on Ripple’s XRP ledger platform and the Wanchain blockchain.

Interoperable services on XRP

The announcement points out the lack of asset-backed tokens in the broader cryptocurrency market, a gap that DeFi services like FinNexus aim to fill. To ensure interoperability with other assets and protocols, the firm has deployed its services on XRP ledger — a peer-to-peer framework that allows the exchange of fiat currencies using the Ripple blockchain. FinNexus is headed by Wanchain’s technical lead Boris Yang and Indonesian fintech group Superatom. The joint project, with Bitrue, will see the issuance of the native “FNX” token on the European exchange to tokenize “real-world cash flows” and allow the exchange of value globally. FNX will be built on Wanchain’s WRC20 protocol. Read More...

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