FinNexus launches platform for tokenized facilities on XRP Ledger
FinNexus, a Fintech company, created an Open-Source financial Protocol plans to launch a digital investment platform on the XRP Ledger. The “One-Stop-Shop” Protocol FinNexus is based on the three core pillars of the rapidly developing decentralized financial ecosystem: diversity, value and comfort.
The private company wants to create market places, the virtual Token, the real assets such as equities, bonds and exchange-traded funds represent. As in the roadmap for 2020 is mentioned, it is FinNexus use the XRP Ledger of Ripple to “tokenized asset values”. The base layer of FinNexus was implemented on WanChain, a public Blockchain platform. The company confirms that it intends to work with other open and decentralized protocols to its network to further expand.
The FNX-Token of FinNexus will be based on the WRC20 Protocol Wanchain and the most important crypto stock exchanges, after the company has completed an Initial Convertible Token Offering in the next month. The FinNexus Team also stated that the Token will be listed on the major crypto-exchanges:
Collaboration and partnership are critical to the success of our company. In the year 2020, we are going to concentrate, in addition to Wanchain (WAN) with other public Blockchains to cooperate, not only in protocols but also in the economy and in the municipalities to establish a connection. Partner with high-value assets, either on-chain or off-chain, and partners who are able to draw these plants will be the main users of the FinNexus-log-Cluster.
The log Cluster will connect the different sectors of the global decentralized financial infrastructure, explains the FinNexus Team. The Protocol will ensure the interoperability between public Base-Layer block chains and the implementation of open APIs and the “Fat Protocol”-framework support that can connect to a single public block chains to one another.
Layer 2 solutions such as payment channels, the centralized and decentralized stock exchanges, traditional financial platforms and old financial infrastructures should all be about the “Fat log” connected.
FNX Token and ICTO Smart Contratcs will be released in the coming months
The FinNexus Team also noted:
The entire Suite of financial services-Middleware is in our business scope. But we try to solve these connectivity problems for a number of problems, therefore, we use the concept of ‘Protocol-Cluster’ to describe our business process and the development of protocols.
The FinNexus Team will publish in the coming months, and the Smart contract of the FNX-Tokens and other ICTO-related contracts. The Team will also publish a comprehensive technical FNX-Paper on the FNX-protocols.
FinNexus consists of a Protocol Suite that is made up of a plurality of log clusters which fulfil different functions. First of all, will focus FinNexus on three main”log Cluster”, one of which is a Blockchain Interaction Protocol (GDP) on the base layer. The development team will also publish a Protocol Cluster for financial payments (PCAP) and a Protocol for the distribution of assets.
In addition, the company will work together with the WAN to the implementation of the GDP, which will consist of faster and more user-friendly channels to link On-Chain Assets, Smart Contracts across multiple block chains. A PCAP may be created by connecting with several crypto-networks that are associated with a variety of digital currencies like Ripple and XRP, said the FinNexus Team.
The developers of the Protocol to say that you are trying to use inter-Ledger creation-payment channels for the FNX. You will also use the XRP Ledger, digital assets values, which can be traded for stablecoins.
Featured Image: Ruslan Ivantsov | Shutterstock
