BNB Chain unveils tokenization solution to power web3 for businesses

BNB Chain has launched a tokenization solution aimed at helping individuals and small businesses on web3.

According to the press release shared by the BNB Chain team with crypto.news, the one-stop tokenization solution offers both real-world asset tokenization and enterprise tokenization.

RWA tokenization will support the issuance and trading of tangible assets such as art, real estate and commodities. These assets will be converted into tradable tokens on BNB Chain, allowing more people to invest while gaining access to web3.

Meanwhile, merchant tokenization allows companies to issue tokens directly on the blockchain. To provide this solution, BNB Chain collaborates with industry partners such as BitBond, Brickken, Matrixdock, Tokenizer by Allo and InvestaX.

BNB Chain’s tokenization initiative aims to bring more users into web3 by eliminating coding and technical knowledge barriers for individuals and small businesses. Jimmy, senior solutions architect at BNB Chain, explained that RWA is seen as an important way to achieve this.

“Compared to other verticals in Web3, RWA is never an easy endeavor and requires more time and effort, but we believe it is one of the right directions. “We see this as a very important way to empower small and medium-sized businesses and add an increasing number of new user scenarios to Web3.”

BNB Chain’s community-driven ecosystem has reached more than 4 million users and includes more than 4,000 decentralized applications. This ecosystem consists of the decentralized financial hub BNB Smart Chain, the layer 2 chain opBNB, and the decentralized storage platform BNB Greenfield.

According to DeFiLlama, BSC’s total value locked across various protocols stands at over $6.28 billion, making it the fourth-largest DeFi chain after Ethereum, Solana, and Tron.

Currently BNB Chain supports tokenization services for companies in carbon credits and natural hydrogen and plans to expand further. This includes introducing loyalty programs, mini-apps and other products to get more people involved in web3.