Stellar Officially Becomes A Member Of The RWA Foundation
JAKARTA - Stellar's blockchain was taken by joining as the founding member of the RWA Foundation DAO. This organization aims to create the best standards and practices in real-world asset tokenization (Real-World Assets/RWA).
This information was announced by the RWA Foundation through platform X on December 9, 2024. The RWA Foundation highlighted Stellar's commitment to accelerating the adoption of blockchain technology for traditional assets.
RWA, or real-world assets, are assets such as property and artwork converted into digital tokens on the blockchain.
This approach offers great opportunities for asset publishers to take advantage of modern technology. Founded by the Security Token Market in November 2023, the RWA Foundation collaborates with members such as Securitize, Ava Labs, Polygon Labs, and Swarm, and most recently Stellar.
Since its debut in 2014, Stellar has focused on developing public blockchain infrastructure and open source. With global community support, the network provides cross-border payment solutions, remittances, and humanitarian assistance.
More than that, Stellar is also expanding its reach to decentralized financial applications (DeFi) and asset tokenizations. One of the main goals is to open access to global financial markets without geographical restrictions, so that it is more inclusive for all.
Several large companies have taken advantage of Stellar's network. WisdomTree Prime, for example, provides access to 13 investment funds 40 Act through the Stellar platform, with total assets of 17.2 million US dollars (Rp.275.2 billion). In addition, Franklin Templeton, one of the asset management giants, manages BENJI tokens worth US$267 million (Rp4.27 trillion) on Stellar's blockchain.
At a recent Meridian conference, Paxos announced plans to launch a flowering stablecoin on Stellar's network. This further strengthens Stellar's role as a major player in the blockchain tokenization and financial sector.
RWA Developments On Stellar Network
Data for the third quarter of 2024 recorded total RWA tokenized on the Stellar network reaching US$590.4 million (Rp9.45 trillion). The transaction volume exceeds US$3 billion (Rp48 trillion), with 9 million active addresses listed on the network.
Although the price of XLM has decreased 26.29% in the past week to 0.3718 US dollars (Rp5,949), Stellar's superiority in transaction efficiency remains a strong asset for future growth.