Injective Launches Tokenized Euro and Sterling for On-Chain Trading
Injective, a blockchain for web3 finance, has introduced tokenized versions of the Euro and sterling. This move aims to bring traditional currencies into the decentralized finance (DeFi) space. The platform, known for its interoperable layer-1 blockchain, now supports trading these major currencies.
The launch comes after Injective unveiled its iAsset framework. This framework allows traditional assets to be traded on blockchain platforms.
Injective has already tokenized major stocks like Nvidia and Tesla. Now, it’s expanding to foreign exchange with the Euro and Sterling.These are two of the most traded currencies globally,alongside the U.S. dollar and Japanese yen. The forex market is massive, with daily transactions far exceeding those of stocks.
Injective’s new feature offers 24/7, year-round trading. This expansion into forex trading is a meaningful step for DeFi.It shows how decentralized finance is becoming a viable option to traditional markets.
Injective is backed by Binance and Pantera. It’s one of the top platforms looking to bring traditional finance on-chain.Other players, like Robinhood and Kraken, are also exploring this space.Kraken plans to offer over 50 tokenized U.S. stocks and ETFs.
