Cryptocurrency exchange CoinField shared details on its new project. Sologenic is a sophisticated trading ecosystem for fiat-backed stablecoins or on-demand tokenized assets, including stocks and ETFs from 25+ global stock exchanges.
Sologenic deploys SOLO Coins (Ƨ) for market-making and liquidity. These coins are issued on the XRP ledger (XRPL) to ensure that liquidity transactions take place in a matter of seconds. They work as a dynamic bridge between crypto-assets and traditional assets by being paired directly with fiat as collateral to settle with third-party brokerage firms. SOLO will be available for trading on CoinField’s existing exchange, an upcoming decentralized exchange (DEX), and major crypto exchanges around the world.
On Sologenic, users can invest, trade, and tokenize assets such as stocks, ETFs, and fiat on-demand with ultra-fast and efficient transactions in real-time. For example, a tokenized stablecoin of TSLA or USD is presented as TSLAƨ or USDƨ. These stablecoins are tradable and redeemable against XRP and SOLO on both CoinField exchange and XRPL DEX. The new tool merges the most tried and true aspects of traditional financial markets with all the efficiency benefits of cryptocurrency technology, especially the transaction speeds of XRP. With Sologenic, users are safely exposed to a booming new market.
“We’re making it easy for people around the world to have access to different global stock exchanges via the blockchain. Imagine living in Tokyo and being able to trade assets from NASDAQ, HKEX, LSE, Deutsche Boerse, and major exchanges on one secure platform. This platform tokenizes stocks on the XRPL as demanded, allowing you to trade it against any cryptocurrency and spend in real-time anywhere. Ultimately, Sologenic helps the mass adoption of cryptocurrency by allowing people to invest in stocks. It’s a WIN-WIN for everyone!” said Bob Ras, CoinField CEO.
SOLO holders are eligible to obtain a free Crypto Card to use their crypto assets as collateral and spend instantly anywhere in the world.
Sologenic is a community-based ecosystem where users can participate in different decision making events and benefit from the SOLO Community Fund (SCF) and the SOLO Expansion Fund (SEF). Developers are encouraged to contribute to the Open Source SDKs and other decentralization initiatives. Users can voluntarily participate in multiple time-based reward programs and receive up to 20% rewards annually. You can learn more about the project by visiting the Sologenic website.
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