The native token of a crypto undertaking targeted on real-world asset (RWA) tokenization has surged 69% in the previous week amid the rollout of a brand new non-public blockchain.
Polymesh (POLYX) is a public blockchain purpose-built for RWA tokenization. The undertaking’s native token, POLYX, is buying and selling at $0.415 at time of writing, up from $0.245 one week in the past.
The 192nd-ranked crypto asset by market cap is up 7% in the previous 24 hours.
On Monday, the undertaking announced the launch of Polymesh Personal, a confidential model of the community’s public permissioned blockchain. Polymesh notes that corporations can use the brand new non-public permissioned community after which migrate to the general public community when prepared.
Graeme Moore, head of tokenization on the Polymesh Affiliation, says the brand new non-public blockchain will supply “seamless public migration.”
“The vast majority of RWA tokenization by banks and large financial institutions is still taking place on private blockchains. Polymesh Private will meet these players where they are while providing a future-proof tech stack.”
After its positive aspects this week, POLYX is simply 16% down from its all-time excessive of $0.494, which it set again in October 2022.
The token is used for staking, governance and transaction funds on the community.
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