Sunday, April 11, 2021

FinNexus Partners with Bitrue to Use XRP Ledger to Tokenize Real-World Assets

FinNexus, a DeFi platform and Bitrue, the leading financial services platform, have joined hands to announce their move to expand services to the XRP and Wanchain ecosystems via the tokenization of real-world assets.

According to the report published by PrNewsWire, the first project from this partnership will be the FNX token, an asset with a unique conversion mechanism that sustains the price of FNX, with an opportunity for users to modify the risk level of their investment portfolio at any time.

Boris Yang, the CEO of FinNexus said:

“Supplying investors with a diverse range of quality assets for different investment strategies is very important in the post-COVID-19 market. We will use advanced blockchain and legacy system protocols to make more assets accessible on-chain throughout the world.”

Going by the report, Boris Yang’s team believes that the key to the future of DeFi is not limited to those investment options of the traditional finance industry, but also true cutting-edge innovations.

Supported by Wanchain, FinNexus has already included tokenized assets meant to be released on the XRP Ledger in its 2020 roadmap.

So, its initial partnership with Bitrue that has a strong user base in Europe and South-East Asia, is targeted at launching a token sale for their native utility token FNX beginning on 11th May 2020.

Reacting to the new development, the CEO of Bitrue, Curis Wang said:

“Innovation has always been at the heart of Bitrue, from the introduction of our Power Piggy product that gives ordinary investors a chance to earn while they sleep, to our adoption of XRP as a base currency, we’re always on the lookout for new ways to bring value to our users. We’re excited to be working on yet another cutting edge and unique financial product.”

According to the report, Boris Yang was the founding technical lead at Wanchain because he wanted to build a more efficient global financial system.

Now that he has laid the technological foundation, his new goal as the current CEO of FinNexus is to deliver the value to the respective cryptocurrency holders.

Boris Yang said:

“We want to build FinNexus into a crypto supermarket, where users may discover many different unique products to efficiently satisfy their needs.”

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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