Mumbai: Cymbient Technologies (Rooba.Finance), a blockchain-based custodial network, has joined hands with Dhiway, a provider of enterprise Web 3.0 open trust infrastructure, to supercharge the development of asset tokenization on the CORD blockchain framework.

Dhiway and Rooba have signed a memorandum of understanding (MoU) to explore the design, development and production of collaboratively integrated technology solutions for real-world asset tokenisation on the CORD blockchain. This effort will use the ERC 3643 standard to create asset-backed tokens and explore IFSCA applications.

This partnership is designed to transform the end consumer experience of asset tokenisation and credentialing.

Cymbient Technologies COO Abhishek Sankritik said, “We aim to enable investors and issuers to interact within a tokenless infrastructure, without any requirement to interact with cryptocurrency. Our vision is to create a compliant portal which will allow Indian investors to access tokenized offerings of all types and also allow global investors to access Indian investment opportunities, while permitting intermediaries and regulators to co-exist in a single ecosystem. We are ecstatic about our new partnership with Dhiway, which brings us one step closer to revolutionising the global investment landscape.”

Dhiway CEO K P Pradeep emphasised, “The CORD Blockchain framework has proven capable of enabling the trust infrastructure for many emerging use cases. Today, the emergence of the concept of “finternet” has renewed the interest in real-world asset tokenization, asset exchange and asset management. This partnership enables significant opportunities for both companies to go to market with open standards-based innovative approaches quickly.”