Assetera Selects Polygon for Europe’s First Regulated Secondary Market for Real-World Assets

Assetera Selects Polygon for Europe’s First Regulated Secondary Market for Real-World Assets

Assetera has partnered with Ethereum scaling network, Polygon, to launch Europe’s first regulated secondary market for real-world assets (RWAs). The platform is set to offer a wide array of tokenized financial instruments and RWAs, catering to retail, professional, and institutional investors.

The range of offerings will include tokenized financial products such as transferable securities, money market instruments, fund units, and derivatives, alongside RWAs like real estate and art.

By utilizing the Polygon network, the platform aims to facilitate secure and efficient transactions, leveraging stablecoins for purchases, clearing, and settlements. This development comes as Polygon continues to expand, with INX Digital Company and Backed recently listing tokenized stocks like Tesla, Nvidia, and Google.

In a statement to Cointelegraph on September 25, Assetera CEO Thomas Labenbacher confirmed that all trading would be conducted directly on the Polygon network. The platform will use stablecoins for transactions, with clearing and settlements achieved via atomic swaps. Labenbacher emphasized that this approach will offer unprecedented liquidity and accessibility for asset owners and investors in the blockchain space.

“The Polygon Proof-of-Stake mechanism ensures that we can scale this innovative platform sustainably without compromising on security or regulatory compliance,” Labenbacher said.

To support secure transactions, Assetera will accommodate both custodial and non-custodial wallets, as well as new bank-managed wallets. The company has partnered with industry leaders like Sumsub, Chainalysis, and Fireblocks to implement robust anti-money laundering measures.

Assetera operates under the Markets in Financial Instruments Directive II (MiFID II), a key regulatory framework for financial markets in the European Union. Additionally, the firm holds a virtual asset service provider license. It also plans to upgrade its services to align with the Markets in Crypto Assets (MiCA) regulatory standards, further expanding its trading capabilities within the EU.

As of July 2024, the EU’s MiCA regulations on stablecoins have already begun reshaping the market. Non-compliant stablecoins are now banned in Europe, while new regulated stablecoins are emerging to meet the new legal requirements.