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- Sologenic will release its XRP ledger-based decentralized exchange (DEX) later in March.
- The platform enables on-demand tokenization of non-blockchain assets such as stocks, ETFs and commodities.
Sologenic (SOLO), an ecosystem that enables trading and on-demand tokenization of assets such as stocks, ETFs and fiat on the XRP Ledger, will go live with its Sologenic DEX later this month. As Bob Ras, co-founder of Sologenic and CEO of crypto exchange CoinField, announced via Twitter, the mobile & web app versions will be released before the end of March.
The Sologenic DEX will be launched this month in Mobile & Web app versions.
The main focus was to create a decentralized app that can make the trading / storing of assets as easy as possible without all the confusion of an ordinary DEX.
YES, IT’S BUILT ON THE #XRPL
See comment pic.twitter.com/PVqxagI6Ir
— Bob Ras (@bobrasX) March 2, 2021
Features of the DEX include a decentralized wallet for XRP, SOLO and tokenized assets, access to the XRPL DEX and the ability to trade 24/7, integration with PayString – a technology designed to provide a universal payment identifier and facilitate crypto transactions – via PayMe+, and support for other wallets such as Ledger and XUMM.
What does Sologenic offer?
As mentioned above, Sologenic is an ecosystem built on top of the XRP Ledger that realizes on-demand tokenization of a wide range of assets from traditional financial markets. Sologenic’s vision is to bridge the gap between traditional financial markets and cryptocurrencies by enabling the platform to invest and trade between crypto and non-blockchain assets from the top 30+ global exchanges. In total, Sologenic aims to tokenize over 40,000 stocks, ETFs & commodities.
Our vision is to facilitate mass adoption of cryptocurrencies globally by enabling people to tokenize the economy on XRP’s blockchain and use cryptocurrencies in any way possible.
SOLO is the native utility token of the Sologenic ecosystem, designed for market making and providing liquidity. The token was issued on the XRP ledger, making liquidity available almost instantly and creating “a dynamic bridge.”
As CNF reported, the SOLO token was issued on CoinField in an Initial Exchange Offering (IEO) in February 2020. At press time, SOLO was the 225th largest cryptocurrency by market cap, trading at $1.07.