XYO Announces Membership in Singapore-based Digital Assets Association
The membership marks a significant milestone in XYO’s expanding global footprint.
SAN DIEGO — March 28, 2024 — Today, XYO ($XYO) and XY Labs ($XYLB) proudly announce their membership in the Digital Assets Association (DAA), a non-profit association at the forefront of integrating blockchain technology into the fabric of traditional finance. The DAA aims to bridge the gap between traditional finance and the transformative potential of tokenized real-world assets (RWA) by facilitating connections between the digital asset landscape and traditional financial institutions. Its founding committee includes leaders and visionaries representing top firms and blockchain projects such as DigiFT, Onfet, Tranchess, Banking Circle, and Bright Point International Digital Assets.
According to Polaris Research, the Asia Pacific blockchain market was valued at USD 2.64 billion in 2023 and is expected to expand, with an annual growth rate of 56.8% in the foreseeable future. This growth indicator, coupled with the trillions of dollars of assets expected to be tokenized by the end of the decade, makes clear that a revolution in blockchain is fast approaching. While asset tokenization is making headway across the world, Asian governments and enterprises are increasingly embracing — and scaling — projects dedicated to asset tokenization as a cornerstone of the new digital economy. Major institutional players in Singapore such as JPMorgan, DBS, and BNY Mellon are exploring various RWA use cases. With experts projecting asset tokenization to be a USD 3T economic opportunity in Asia alone, the region has transformed into a hotbed of asset tokenization activity and adoption, spanning both governments and enterprises.
By joining DAA’s membership community, XYO gains a front-row seat with unprecedented views into critical emerging trends and the cutting-edge companies behind them that are driving the region and world at large forward.
“XYO and XY Labs are honored to join the Digital Assets Association as one of its inaugural members,” says Markus Levin, Co-Founder of XYO. “This partnership illustrates our dedication to broadening our engagement in Asia and strengthening XYO’s broader goal to bolster the adoption of groundbreaking blockchain technology through meaningful integrations with traditional finance. As a DAA member, XYO and XY Labs eagerly anticipate participating in regulatory discussions and helping to shape policies that encourage innovation and development in this vibrant industry.”
“The Digital Assets Association is pleased to welcome cutting-edge data sovereignty protocol XYO to the organization,” says Henry Zhang, Founder & CEO of DigiFT, a founding member of DAA. “We are confident that APAC will continue its momentum and further bolster its position as a blockchain hub. The DAA was established to enable the financial services ecosystem to fully capitalize on the immense potential of tokenization, and collaborating with XYO brings DAA one step closer to fulfilling this vision.”
Here’s a snapshot of XYO’s and XY Labs’ existing involvement in the region:
- XYO’s token is listed on region-leading crypto exchanges such as Coinstore, Crypto.com, CoinW, HTX, Gate.io and KuCoin.
- In 2022, XYO launched its $20 million XYO ecosystem fund with Singapore’s Outliers Fund, expanding into a region where crypto adoption surpasses Europe and North America.
- XY Labs’ (the company behind the XYO protocol) stock was tokenized and currently trades on the tZERO ATS, which operates in countries such as China, Hong Kong, South Korea, and Thailand.
- XY’s COIN app boasts hundreds of thousands of users in Southeast Asia, where the P2E economy is booming and empowering individuals to gain financial freedom.
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For all media inquiries, please contact the XYO Press Team at XYO@Wachsman.com.
About XYO
Established in 2018, XYO’s mission is aimed at restoring individuals’ control over the data they create. As a technology protocol, XYO enhances data validity, certainty, and value by constructing a data marketplace that sets a gold standard for apps, websites, and blockchain technologies reliant on trusted data. By enabling a more accessible Web3 for developers, businesses, and individuals, XYO promotes self-sovereignty through expanded data ownership — a core principle across all of its initiatives. XY Labs, the parent company behind the protocol, is a trailblazer in tokenization; the XY Labs Class A common stock is traded on the SEC-regulated trading platform, tZERO.
You can learn more about DAA at DigitalAssetsAssociation.org
