ELYSIA, a global project that tokenizes real-world assets using blockchain technology, and Klaytn Foundation, the non-profit entity leading the ecosystem expansion of the global Layer 1 public blockchain Klaytn, have officially partnered to drive innovation and advancement in Real World Asset (RWA) tokenization. Through this partnership, ELYSIA’s DeFi platform, ELYFI, will integrate the Klaytn network, while Klaytn Foundation will be providing business support including participating as a liquidity provider for the ELYFI RWA pool.
ELYSIA is a global real-world asset tokenization project that leverages blockchain to provide an innovative service that enables the Tokenization of various RWA products, such as residential and commercial real estate and accounts receivable, into digital assets. ELYSIA operates the DeFi platform ELYFI to promote liquidity for RWAs, building a decentralized financial ecosystem based on real-world assets, providing users with stable and profitable financial services.
Klaytn, a global Layer 1 public blockchain mainnet developed by Kakao, a South Korean IT company, is a globally renowned next-generation decentralized business platform. Boasting excellent stability and scalability, Klaytn has grown into one of the leading global Web 3.0 ecosystems in Asia since its launch in 2019. Recently, Klaytn Foundation announced plans to develop and activate the RWA industry within the Klaytn ecosystem. To achieve this, the foundation has partnered with ELYSIA to promote business cooperation for the development and activation of the RWA ecosystem.
By integrating ELYSIA with the Klaytn network, the project will be able to provide RWA services to the Klaytn ecosystem, which has a large number of users, especially in South Korea. This will enable users in the Klaytn ecosystem to explore investment and trading opportunities for various real-world assets.
“The partnership between ELYSIA and Klaytn will allow us to combine our technology and know-how to provide a higher level of technological innovation and services in the RWA space,” said Jung-gun Lim, CEO at ELYSIA. “This will enable the growth of the RWA industry and provide attractive services to a large number of users in the Web3 space.”
“RWA tokenization has recently grown into a burgeoning business in the global Web3.0 industry, serving as a medium for more users to access stable Real-World Assets,” said Sam Seo, Representative Director of Klaytn Foundation. “Klaytn Foundation will leverage our synergies with ELYSIA to further expand Klaytn’s RWA token ecosystem in the global market moving forward.”
Using blockchain technology, ELYSIA provides a solution to easily onboard illiquid real-world assets, such as real estate and bonds. To achieve this, ELYSIA offers the RWA (Real-World Asset) tokenization protocol, enabling the transformation of real-world assets into digital assets known as RWA tokens. RWA tokens generated through ELYSIA can be liquidated on ELYSIA’s DeFi (decentralized financial system) platform, ELYFI. RWA tokens can be sold or used to borrow crypto loans through ELYFI. This provides many opportunities to leverage the value of real-world assets.
Klaytn Foundation was established in 2020 to expand the ecosystem of Klaytn, a global Layer 1 blockchain platform, and has since been actively collaborating with its Governance Council members worldwide. Klaytn Foundation facilitates the adoption and development of new technologies to ensure that Klaytn fulfills its role as an open, trusted, and sustainable blockchain platform for developers and users alike. It also facilitates decision-making to ensure that the ecosystem continues to expand optimally in the rapidly changing blockchain landscape. In line with its long-term Governance Roadmap, Klaytn Foundation plans to fully implement the Decentralization Phase of the Klaytn blockchain in 2023 and beyond.
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