I-ON Digital Corp. to Propel Tokenized Asset Management for Banks
Digital asset innovator I-ON Digital Corp. announces plans for a Digital Banker-in-a-Box Platform-as-a-Service (PaaS), strategically designed to assist Regional and Community Banks in navigating the complexities of managing tokenized real-world assets (RWAs). Leveraging their expertise in RWA tokenization, including the flagship gold-backed digital asset, ION.au, the company aims to act as a key industry resource for banks, facilitating secure, compliant management of a diverse range of tokenized assets.
I-ON’s portfolio of closely held gold-backed digital assets, supported by independent proof-of-reserves (POF) technology on their proprietary Hybrid Blockchain platform, establishes the company as a leader in RWA tokenization. The new Digital Banker-in-a-Box platform aims to empower financial institutions to seamlessly engage in various activities related to tokenized assets, such as buying, selling, trading, transferring, settling, and providing custodial services.
Carlos Montoya, CEO of I-ON, outlined the primary objective of the initiative: “Our goal is to position I-ON’s core-technology platform as the ‘essential railway’ and point of entry for tokenized asset recognition, acceptance, and seamless functionality. Financial institutions partnering with us will harness I-ON’s unique, IP-based digitization architecture to bridge legacy banking and tokenized asset ecosystems.” Montoya emphasized the broader goal of introducing industry-wide digital asset acceptance, accountability, custody, and reporting within a robust compliance framework.
To execute this vision, I-ON has initiated the recruitment of a seasoned team of banking professionals dedicated to serving Regional and Community Banks. The company plans to issue licensing agreements, offer conversion and installation support, and provide collateral, hypothecation, custodial services, and credit syndication modules. Additionally, customized report-writing services will be available for bank clientele, investors, management, and regulatory agencies.
In a strategic move, I-ON Digital Corp. also disclosed its intention to conduct a public offering of digital tokens representing an interest in unmined, in situ proven gold reserves, with a target amount of up to $100 million. The offering is scheduled to commence in the second quarter of 2024.
Image by Pedro Lastra from Unsplash
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