R3 is working with Solana to build a market where institutional investors can more easily use on-chain assets, CoinDesk reported on Jan. 24.
R3 cited Solana's fast transaction processing and low fees as reasons for the partnership. Solana's DeFi ecosystem TVL, or total value locked, has surpassed $9 billion, establishing it as a major platform competing with Ethereum, R3 said.
R3 described Solana as the “Nasdaq of blockchains” and sees it as the best platform for putting institutional assets on chain.
Since changing its business direction in May last year, R3 has focused on tokenising real-world assets and plans to offer yield-bearing vaults. It plans to support stablecoin holders investing on-chain in bonds, funds and reinsurance-linked securities.
CoinDesk said this is part of R3's goal of bringing assets from traditional financial markets on chain to provide DeFi investors with stable returns.
Chi-kyu Hwang
delight@d-today.co.kr