The native token of a crypto project that focuses on tokenizing real-world assets (RWA) rose 69% over the past week amid the launch of a new private blockchain.％
Polymesh (POLYX) is a public #blockchain designed specifically for RWA #tokenization . #POLYX , the project's native token, is trading at 0.415 at the time of writing, up from 0.245 a week ago.
Ranked 192nd by market capitalization, the crypto asset has gained 7% in the last 24 hours.
On Monday, the project announced the launch of #Polymesh Private, a confidential version of the network's public blockchain with access rights. Polymesh says companies can use the new private authorization network and move to the public network when they are ready.
Graham Moore, head of tokenization at the Polymesh Association, says the new private blockchain will provide a "seamless transition to the public network. ""
Most RWA tokenization by banks and large financial institutions is still done on private blockchains. Polymesh Private provides a technology stack that can meet the requirements of these players, securing the future.
After rising this week, POLYX is just 10% off its all-time high of ¥0.494 in 2022, which is 16.
The tokens will be used for betting, managing payments and trading them online.
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