tZERO Adds Stellar, XDC Network, and Algorand to Its Regulated Tokenization Stack
- tZERO has announced support for Stellar, Algorand, and the XDC network on its multi-chain tokenization infrastructure.
- The new integrations give issuers more choice and add to asset flexibility in their ecosystem, tZERO stated.
tZERO has added Stellar, the XDC network, and Algorand to its multi-chain tokenization infrastructure, giving the three networks access to its growing institutional client base.
Announcing the move on Tuesday, the company stated that it intends to add other networks in the near future. Currently, it supports Avalanche, Tezos, and Ethereum. It also recently partnered with Polymath, one of the most popular platforms for issuing regulated security token offerings. The new integrations give issuers more choice and add to asset flexibility in their ecosystem, tZERO stated.
Based in New York, tZERO offers a platform for issuing, managing, and trading tokenized securities. Users can tokenize real-world assets, such as equities, private securities, and funds, and trade them via its alternative trading system.
With Stellar, Algorand, and XDC now available on its platform, tZERO users have a broader array of choices for which network best fits their needs, regulatory requirements, and target investors. This freedom will be critical in attracting legacy financial players, who are the company’s main clientele, says CEO Alan Konevsky.
He added:
The company’s chief security officer, Chris Russell, reiterated the company’s pledge to remain chain-agnostic and to integrate as many networks as possible, as its users have varying needs. He stated:
tZERO’s Bet on Durability, Enterprise Adoption, and Speed
In its announcement, tZERO stated that it integrated Stellar because of its durability. The network has a 10-year track record of performance and has been a pioneer in integrating real-world financial services on-chain. It has been expanding its tokenization capabilities in recent years, as we have reported. One of its more prominent tokenization projects is with RedSwan, which issued $100 million worth of tokenized real estate on the network, as CNF detailed.
XDC and Algorand are newer to tokenization, but their enterprise-grade networks are rapidly attracting institutional players. tZERO concluded:
The three tokens have traded sideways in the past day, with XDC gaining 2% to trade at $0.04874 while Stellar’s XLM dipped 0.6% to trade at $0.2137.
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