The coalition can be joined by any members eager to "create a unified financial system on the blockchain."
In a recent landmark development, seven high-profile companies within the decentralized finance (DeFi) arena have united to launch the Tokenized Asset Coalition (TAC).
The coalition aims to further the implementation of asset tokenization, promote the use of public blockchains, and advocate for institutional participation in DeFi.
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In a joint announcement, Aave Companies, Base, Circle, Centrifuge, Coinbase, Credix, Goldfinch, and RWA.xyz have stepped up as the foundational members of the TAC.
It is worth noting that the coalition is not exclusive to its founding members but is inviting any organization committed to "create a unified financial system on the blockchain.”
Early-stage endeavors for the coalition are set to participate in various outreach activities, including periodic meetings among members, relevant events, and quarterly publications.
TAC has articulated its foundational belief that tokenizing real-world assets holds the potential to unite traditional and cryptocurrency-based financial systems, mitigating existing operational inefficiencies.
The tokenization of real-world assets represents the best opportunity for the traditional and crypto financial systems to create a single source of truth, where protocols, platforms, and participants coordinate and combine their efforts to eliminate the inefficiencies of the present financial system.
The formation of the Tokenized Asset Coalition stands as a significant step towards a unified financial system that leverages blockchain technology. With founding members who are already industry leaders, the coalition has a solid base to drive innovation in asset tokenization, public blockchain adoption, and institutional DeFi.
