COINFIELD PLANS TO MERGE TRADITIONAL FINANCIAL MARKETS AND STABLECOINS ON RIPPLE XRPL

30,000 Stocks Will Be Available For Crypto Trading On Ripple’s XRPL

The new platform is called “Sologenic and it aims to become an ecosystem where traditional financial market assets will merge with crypto assets, They claim to offer their customers the ability to tokenize any asset on demand and users will be able to tokenize over 30,000 stocks and ETFs. Tesla and Apple stocks will become tradable on the popular XRP ledger (XRPL) it has been announced.

How Will Coinfield Merge The Two Markets?

Coinfield will use the Solo (ƨ) token to provide a bridge between crypto assets and stocks or ETFs. So, Paired directly with fiat, Solo will be used as collateral to settle transactions with third-party brokerage firms. Tesla shares, for example, would be converted to a tokenized stablecoin version of TSLA called TSLAƨ and USD would become USDƨ. These stablecoins will be tradable against XRP and Solo on CoinField’s exchange and the XRPL DEX.

When Will It Be Launched?

Launch date is set for Q1 with a public IEO. This is when Solo holders will be able to trade their coins for stock and crypto assets They’ll also be given a “Crypto Card” with which they can use crypto assets as collateral and spend them instantly anywhere in the world

Uncle Bob is veteran of the crypto game. None of what is written should be taken as financial advice and before investing everyone should do their own due diligence.

Uncle Bob has a well followed crypto related twitter account and can be viewed here