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XYO, a prominent player in the blockchain technology realm, just secured a new spot on its global map with its recent membership in the Digital Assets Association (DAA) based in Singapore. This move is seen as a significant step for XYO in expanding its reach and influence.
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The DAA isn’t just any run-of-the-mill association; it’s a non-profit organization dedicated to integrating blockchain technology into traditional finance structures. Its primary goal is to bridge the gap between traditional financial systems and the promising world of tokenized real-world assets (RWA).
With heavyweights from both traditional finance and blockchain projects onboard, including big names like DigiFT, Onfet, Tranchess, Banking Circle, and Bright Point International Digital Assets, the DAA is well-positioned to drive substantial change in the industry.
XYO’s Strategic Move into Asia-Pacific Blockchain Market
Asia Pacific is already a powerhouse in the blockchain market, valued at a whopping USD 2.64 billion in 2023, with projections indicating rapid expansion. Governments and enterprises in the region are increasingly embracing asset tokenization projects, with major players like JPMorgan, DBS, and BNY Mellon exploring various RWA use cases.
With experts forecasting asset tokenization to be a USD 3 trillion economic opportunity in Asia alone, it’s clear that the region is ripe for blockchain innovation.
Markus Levin, Co-Founder of XYO, expressed excitement about the partnership, highlighting XYO’s commitment to broadening its engagement in Asia and integrating blockchain into traditional finance.
“XYO and XY Labs are honored to join the Digital Assets Association as one of its inaugural members. This partnership illustrates our dedication to broadening our engagement in Asia and strengthening XYO’s broader goal to bolster the adoption of groundbreaking blockchain technology through meaningful integrations with traditional finance,” says Markus Levin, Co-Founder of XYO.
“As a DAA member, XYO and XY Labs eagerly anticipate participating in regulatory discussions and helping to shape policies that encourage innovation and development in this vibrant industry.”
Markus Levin, Co-Founder of XYO
Henry Zhang, Founder & CEO of DigiFT and a founding member of DAA, welcomed XYO to the organization, emphasizing the association’s mission to unlock the potential of tokenization in the financial services ecosystem.
“The Digital Assets Association is pleased to welcome cutting-edge data sovereignty protocol XYO to the organization,” says Henry Zhang, Founder & CEO of DigiFT, a founding member of DAA. “We are confident that APAC will continue its momentum and further bolster its position as a blockchain hub. The DAA was established to enable the financial services ecosystem to fully capitalize on the immense potential of tokenization, and collaborating with XYO brings DAA one step closer to fulfilling this vision.”
XYO and XY Labs, the brains behind the XYO protocol, already have a significant presence in the Asia Pacific region. XYO’s token is listed on leading crypto exchanges in the region, while XY Labs’ stock trades on the tZERO ATS, operating in countries like China, Hong Kong, South Korea, and Thailand. Additionally, XY’s COIN app boasts a substantial user base in Southeast Asia, contributing to the region’s growing P2E economy.
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