CoinField exchange introduces Sologenic platform built on the XRP Ledger

by Osiris Team

Posted on Oct. 16, 2019, 8:42 p.m.
Time to read: 2 min

The cryptocurrency exchange CoinField unveiled full details of the Sologenic cryptocurrency ecosystem. The main goal is to facilitate the trading of on-demand tokenized assets such as stocks and ETFs. The information was released by the crypto exchange in an official announcement.

According to the report, the ecosystem will facilitate the trading of tokenized assets from more than 25 global stock exchanges. At the same time, it will also allow for the trading of fiat-backed stablecoins on top of the XRP Ledger (XRPL).

The Sologenic network uses SOLO coins for market-making and liquidity. The coins are issued on the XRP Ledger which makes transactions and the whole experience much faster.

In this way, it is possible to create a new ‘dynamic bridge’ between crypto assets and non-blockchain-based assets. The SOLO coins will be available for trading on CoinField’s exchange, the upcoming CoinField DEX and on many other crypto platforms.

Bob Ras, the CEO of CoinField, commented about the current initiative:

“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.”

In addition to it, Ras explained that the platform tokenizes stocks on the XRPL as demanded, which allows individuals to trade them against any cryptocurrency. Sologenic is working for cryptocurrencies to reach mass adoption by allowing people to invest in stocks.

The announcement explains that Sologenic is a community-based ecosystem in which users can participate in different decision making events and benefit from the SOLO Community Fund and the SOLO Expansion Fund.

A few months ago, UseTheBitcoin reported at UseTheBitcoin that CoinField was planning a game-changer XRP-based project.

At that time, Bob Ras shared the logo of the Sologenic Project on Twitter mentioning the XRP Ledger.

Mr. Ras, explained that they were working on something more than just a simple integration of the XRPL.

He said that from the first day, they wanted to create a new financial ecosystem that people can easily trade different assets and spend them in real-time.

With the new Sologenic cryptocurrency ecosystem, CoinField is finally providing the whole financial and crypto worlds with the possibility to manage traditional assets and cryptocurrencies.

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