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Polymesh (POLYX) Surges 150%: BlackRock Pursues Tokenization

Polymesh (POLYX) Surges 150%: BlackRock Pursues Tokenization

BlackRock’s involvement in RWA tokenizations helps all RWA tokens rise in value.
Among the top RWA tokens with a 50%+ surge are POLYX, CFG, and ONDO.
The native cryptocurrency driving the institutional-grade Polymesh blockchain is called POLYX.

POLYX, the native cryptocurrency of Polymesh, surged by an astounding 150% in the last three days in response to BlackRock’s debut in the RWA tokenization space. The POLYX market cap has surpassed $400 million as its price has soared to $0.50.

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Why Is the Price of POLYX Rallying?

After BlackRock launched its first tokenized fund on the Ethereum network, Real World Asset (RWA) token prices spiked significantly throughout the cryptocurrency market. Among the notable risers were Centrifuge (CFG), Ondo (ONDO), and Polymesh (POLYX), all of which saw notable gains of over 30% on average.

Among them, POLYX attracted the most attention. Proposed as a blockchain specifically for regulated securities, Polymesh acts as a middleman for tokenized asset transactions. Its popularity positions it as a leader in this developing industry and demonstrates the growing interest in blockchain-driven financial solutions.

Additional Information About Polymesh

Polymesh is a permissioned blockchain of the highest calibre, carefully designed for regulated assets, and suitable for institutional use. It ushers in a new era of financial instruments while addressing the issues related to legacy processes. Through resolving difficulties related to governance, identity, compliance, confidentiality, and settlement in public infrastructure, Polymesh creates avenues for improved efficiency and novel prospects.

POLYX, Polymesh’s native protocol token, is its central component. POLYX is used in the network for functions such as staking, network security, transaction fee reimbursement, and voting in governance processes.

Using integrated financial primitives, which permit smooth blockchain operations at low fixed costs, is one of Polymesh’s unique selling points. Moreover, developers may utilize the platform to generate decentralized applications (dApps), which promote creativity and broaden the ecosystem.

On Monday, the group debuted Polymesh Private, a private version of the network’s public permission blockchain. Polymesh emphasizes that companies can start using the private network with permissions and move to the public network whenever convenient.

According to Graeme Moore, the Polymesh Association’s head of tokenization, the new private blockchain will facilitate an easy move to the public realm. Moore stated:

“Banks and other significant financial organizations continue to tokenize RWA primarily on private blockchains. POLYX Private offers a future-proof tech stack that will meet these players where they are.

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