India’s Decimal Point Analytics receives funding for tokenization solutions

India’s Decimal Point Analytics receives funding of US$750,000 for tokenization solutions

India’s Decimal Point Analytics receives funding for tokenization solutions

A research and data analytics firm from India, India’s Decimal Point Analytics (DPA), has been given grant funding from a Switzerland-headquartered non-profit organization firm, The Hashgraph Association, to develop a platform for asset tokenization on a distributed ledger technology (DLT) of Hedera’s network.

From the regulators in India, DPA has received approval to launch tokenized products along with its sandbox environment, as reported by the company.

Chief executive of Decimal Point Analytics,  Shailesh Dhuri, said in a statement, “Asset tokenization is at a fairly nascent stage of development here in India but is definitely the future as far as the finance market goes.”

He further said, “India is in a growth phase and is making huge investments in everything from road, rail, port, health, renewables, to massive next-generation data centers. Tokenization of these newly built government infrastructure assets will create new asset classes, which are stable in value and offer an immediate market size in excess of US$100 billion.” 

To create and develop tokenization solutions for the Indian financial market, DPA will be given professional assistance and support from the Swiss Digital Assets Institute. DPA is in collaboration with Swiss Digital Assets institute, which is an innovation and training company backed by the government of Swiss.

According to a report by the digital exchange for private markets ADDX and global consulting firm BCG, by 2030, it is expected that tokenized assets will expand into business opportunities of a US$16 trillion.

At present, various financial institutions and central banks are exploring the blockchain technology.  With the announcement of Project Gaurdian, central bank of Singapore with the financial industry has taken a collaborative initiative to discover the potential use-cases of asset tokenization for the economy. Onyx, a unit of JPMorgan’s blockchain business as well wishes to invest in trillion of dollars in tokenized asset to decentralized finance.

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