- Well-known investment companies like Brevan Howard and Hamilton Lane are creating special chains called Libre for Real World Assets (RWA) in the Polygon system.
- A big accomplishment is that private credit funds and US-registered mutual funds are now available on Polygon PoS.
In an important change, BlackRock CEO Larry Fink says the recent approval of ETFs is a step toward using tokens for investing. This shows that more people are moving in this direction. Many organizations are involved in changing things on the Polygon networks.
Major investment firms like Brevan Howard and Hamilton Lane are working together with @librecap to use Polygon CDK for the release of Libre. Libre is a special type of asset chain on the Polygon system. It is for investors and managers who want to invest in tokenized funds.
The landmark ETF approvals this week are “stepping stones toward tokenization,” BlackRock CEO Larry Fink said Friday on CNBC.
Institutions have already been building these stepping stones on Polygon networks.
Just last week, leading funds Brevan Howard and Hamilton Lane are… pic.twitter.com/1yT1BM0QaO
— Polygon (Labs) (@0xPolygonLabs) January 15, 2024
Last year in January 2023, @Hamilton_Lane started using @Securitize’s tokenization platform on the Polygon network. This change made it easier for investors to invest in the first private credit fund using tokens on the blockchain.
Later in April, @FTI_US reached an important achievement by being the first mutual fund in the US to convert its OnChain U. S into tokens FOBXX is a government money market fund on the Polygon PoS platform.
In November 2022, JPMorgan and Singapore’s DBS Bank chose Polygon PoS as the best network for turning Singapore government securities, the Singapore dollar, and Yen into digital tokens for Project Guardian.
The important thing is that dividing assets into tokens on public blockchains is no longer just an idea, it’s really happening on the main network and big companies are using it. Polygon PoS is the best way for big companies to connect web3 and traditional finance.
Important advances in the Polygon network’s ecosystem.
Recently, Polygon Labs gave an update on the progress of Polygon zkEVM, which means they are getting ready to move to Stage 2 of its Mainnet Beta. The message on X tells us about the new technology and what’s going to happen in the future.
Polygon zkEVM is a way to make transactions on Ethereum faster using zero-knowledge proofs. It helps to make things more efficient. By using zk-rollups, Polygon zkEVM can handle lots of transactions without using the main Ethereum network until they are all combined into one proof and sent to the mainnet.
Moreover, the NFT Ecosystem of Polygon has grown a lot in the beginning of 2024. NFT sales have been more than $36 million just in the past week. This amazing success is three times better than before, showing that Polygon did really well in the NFT sector since August 2023. This growth shows that Polygon is becoming more influential and competitive in the NFT market.
Polygon’s own digital money MATIC has gone down in price because the whole cryptocurrency market has also gone down. Currently, the price of MATIC is down 0. 85% at $085 with a market value of $8. 12 billion One good thing to look out for is if there are less MATIC coins available for trade on the exchanges.