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Avalanche (AVAX) News
The negative sentiment surrounding the king of cryptocurrencies has led investors to stay away from altcoins until the conclusion of the Fed meeting. This has resulted in a decline in the value of altcoins. While BTC is currently holding above $29,000, it has not been able to turn $29,700 into support. So, what does the $50 million grant and incentive program mean for Avalanche investors?
Avalanche (AVAX) Future
The Avalanche Foundation will spend up to $50 million to purchase tokenized assets on its network. The Avalanche Foundation is aware that tokenized assets will become an even larger market in the future. Major financial institutions in all regions, including China, are already discussing this issue. In fact, one of China’s largest banks successfully issued the first tokenized bond on the Ethereum network in recent weeks.
Avalanche has announced grant support to create a strong alternative in this field. The support provided by Google Cloud and others is actually based on this. The program, called Avalanche Vista, will evaluate assets across the entire liquidity spectrum, including equity, credit, real estate, and commodities.
Popular networks like Chainlink and Ethereum are preparing for a future where assets are tokenized. They are aware that this field will become a trillion-dollar market and are getting started early. John Wu, President of Ava Labs, said:
“Asset tokenization is not only the future of capital markets, but also a critical driving force of today. The momentum built on blockchain among institutions has been astonishing, and Avalanche Foundations is taking a big step forward with this initiative.”
The Avalanche Foundation stated that it is following the latest milestones in this field, including tokenizing a stake in KKR’s flagship fund by Securitize, and highlighted the launch of a market for asset-backed securities called IntainMARKETS.
The Foundation also wrote in the announcement:
“The $50 million allocation reflects Avalanche Foundation’s commitment to advancing a more accessible, efficient, and cost-effective financial system using Avalanche’s new consensus mechanism, unique Subnet architecture, and technical innovation.”
Avalanche Vista is not the first or last in this field. Two years ago, the foundation announced a $180 million DeFi program in partnership with Aave and Curve.
