30s Summary

BNB Chain has launched a service enabling individuals and small businesses to tokenize real-world assets easily and without coding skills. The service guides users through the process, including legal compliance and asset tokenization or ‘minting’. Tokenization offers benefits such as fractional ownership of expensive assets, cost-effective customer loyalty programs, and potential market growth to $600 billion in the next decade. The Monetary Authority of Singapore, SWIFT, Chainlink, and UBS tested a tokenized fund settlement approach in November 2024, allowing traditional banks to explore tokenized assets without dealing with cryptocurrencies.

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BNB Chain is rolling out a new easy-to-use service that gives regular folks and smaller businesses the ability to tokenize real-world assets quickly and without any coding skills. Tokenizing means turning a physical asset, like a work of art or a fancy collectible, into a digital ‘token’ that can be bought, sold, or traded.

To make things super simple, the service guides users through every step of this process, including legal compliance stuff and turning your asset into tokens (or ‘minting’ as the crypto folks say). By using this service, you’re saving yourself money, time, and a whole lot of hassle.

Turning physical assets into tokens has a host of benefits. For starters, it lets more people take part in owning expensive stuff like art or securities because these tokens can be bought in fractions instead of a whole. Plus, businesses can use tokenization for customer loyalty programs to drive engagement, cutting down on costs.

This move by BNB Chain is just one of plenty aiming to bring more real-world assets into the digital world. The market size for this could potentially touch $600 billion in the next decade. Notably, this trend is super clear in the world of stablecoins. Stablecoin companies are buying up US Treasury bills and other cash-like assets to back their own tokens. This has the effect of upping demand for US debt.

The Monetary Authority of Singapore, SWIFT (major international bank messaging service), Chainlink (an oracle network), and UBS (a banking giant) realized a pilot program in November 2024 that tested this tokenized fund settlement approach. Basically, this program was testing the ability to transact in normal, non-digital money or in non-blockchain funds, which could let traditional banks dip their toes into tokenized assets without needing to get into holding cryptocurrencies at all.