Polymesh is Leading in Blockchain Finance

Polymesh’s native cryptocurrency, POLYX, experienced a 150% surge as BlackRock entered the RWA tokenization arena.

BlackRock’s foray into the RWA tokenization arena coincided with a meteoric rise of 150% in POLYX, the native cryptocurrency of Polymesh, over the past three days. With a market cap of almost $400 million, POLYX’s price has soared to $0.50.

Why has the POLYX price increased?

A dramatic increase in the value of Real World Asset (RWA) tokens occurred in the cryptocurrency market after BlackRock debuted its first tokenized fund on the Ethereum blockchain. Ondo (ONDO), Centrifuge (CFG), and Polymesh (POLYX) were notable risers with gains of more than 30% on average.

People paid special attention to polymesh. They are tailored blockchain platform for regulated securities, facilitates tokenized asset transactions. The increasing interest in financial solutions provided by blockchain is evident in its prominence, positioning it as a trailblazer in this dynamic field.

Background on Polymesh

We have carefully designed Polymesh, a permissioned blockchain, for regulated assets, making it suitable for institutional use. It brings a new age of financial instruments into being while tackling the problems caused by outdated systems. By clearing the way for more efficient operations and new possibilities, they fix problems with public infrastructure related to settlement, identity, compliance, and governance.

The POLYX token, which is intrinsic to the Polymesh protocol, is extremely important. POLYX is an integral aspect of the network that helps with staking, security, covering transaction costs, and even voting on governance issues.

Integrating built-in financial primitives is one of their unique selling points. These primitives allow for frictionless blockchain activities with low fixed costs. In addition, programmers can use the platform to build decentralized apps (dApps), which increases ecosystem size and promotes innovation.

On Monday, the team introduced Polymesh Private, a private version of the network’s public-permissioned blockchain. Businesses can start off using the private permissioned network and switch to the public network whenever it’s convenient for them, as they stated.

The new private blockchain will allow for a seamless move to the public realm, according to Graeme Moore, head of tokenization. As Moore put it:

“Private blockchains continue to host the great majority of RWA tokenization by banks and other significant financial institutions. To provide a tech stack that can withstand the test of time, Polymesh Private will meet these players where they are.