Xend Finance Introduces Asset Chain for Seamless RWA Tokenization on Testnet

Xend Finance Launches Asset Chain on Testnet for Seamless RWA Tokenization
Xend Finance, a DeFi platform focused on providing financial services to underserved populations in developing countries, has launched its new layer one blockchain, Asset Chain, on the testnet. This move facilitates seamless tokenization, verification, and management of Real-World Assets (RWA) on its native blockchain.
Initially deployed on Ethereum and Binance Smart Chain, Xend Finance offers high-yield savings opportunities by aggregating yields from various DeFi lending protocols. Its native token, $XEND, is integral for rewards, insurance purchases, and governance. Supported by major investors like Binance Labs and Google Launchpad, Xend Finance aims to bridge traditional finance with DeFi, making it accessible to both crypto-savvy and non-crypto users.
Asset Chain, the backbone of Xend Finance’s Real-World Asset Onchain Asset Environment (OAE), leverages Lachesis, an aBFT consensus protocol by the Fantom Foundation, ensuring efficient and secure on-chain management and transactions. Testers and community members will be updated on airdrops, with blockchain fee rewards distributed between the Xend Finance Ecosystem Treasury and validators.
The tokenized asset market, currently valued at around $87 billion, is projected to reach $10.9 trillion by 2030, driven by significant growth opportunities in various sectors like real estate, debt, and private credit. This expansion is set to transform asset management and bridge the gap between traditional finance and DeFi.