SmartLayer Unveils ERC-5169 Token Standard for Real-World Asset Tokenization
CryptoNewsTerminal Staff21 May, 2024
SmartLayer Unveils ERC-5169 Token Standard for Real-World Asset Tokenization
SmartLayer Network (SLN), an EVM-compatible "Executable Token" project, has unveiled plans to establish ERC-5169, a new token standard for "real-world asset tokenization (RWA)." According to a recent announcement via X, the project intends to introduce a "token frontend" to ERC-5169 and create an ERC-721 token called BVT by implementing the ERC-5169 interface. SmartLayer Network aims to enhance the accessibility of real-world assets by tokenizing them, enabling seamless ownership, transfer, and management through smart contracts. The project is currently in the testing phase, with several developers actively involved. Completion of the testing phase will pave the way for the implementation of ERC-5169 and the introduction of BVT. This initiative marks a significant step towards bridging the gap between traditional finance and the digital asset ecosystem. By tokenizing real-world assets, SmartLayer Network aims to unlock new opportunities for investment, liquidity, and asset management.
