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XYO joins Singapore's Digital Assets Association

Source: XYO

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.”



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