Phlomis Finance is getting ready to transform the tokenization of real-world assets (RWAs) by taking advantage of Chromia’s blockchain infrastructure, specifically its custom-built Chromia Real World Assets Protocol (CRWA). The project is incubated by Swedish blockchain company ChromaWay, and one of its main goals is to unlock access to institutional-grade assets that are usually only reserved for established financial institutions.
By tokenizing assets like global infrastructure projects, climate-focused initiatives, and private credit offerings, Phlomis will connect crypto investors to large-scale financial instruments. This strategy will promote what is called “resilient investing” by providing access to leading funds in both Europe and Asia, while also offering even better on-chain transparency for transactions and financial outcomes.
Chromia’s Relational Blockchain
According to Todd Miller, the Managing Director of Phlomis, RWA solutions face many challenges like scalability issues, high transaction costs, and restricted access to essential documents. The fact that Phlomis Finance is adopting Chromia’s relational blockchain infrastructure means that it offers its users some key advantages in scalability, cost efficiency, and document management.
By using Chromia’s infrastructure and CRWA, Phlomis Finance plans to better manage these challenges and deliver a much more seamless investment experience. Phlomis Finance plans to introduce the first tokenized products in Q4 of 2024 after the launch of its website.
Potential tokenization adoption scenarios (Source: McKinsey & Company)
Analysts from McKinsey & Company predict that tokenized financial assets could reach a market size of $2 trillion by 2030. The tokenization of digital assets and traditional assets is expected to change the financial markets, and some major players like Bank of America and BlackRock are already exploring the transformative power of the technology.
