ETH L2 Lisk, Backed Finance Partner to Foster Real-World Asset Adoption in Emerging Markets

CryptoNews.com · 2024-07-24T06:00:53+00:00

Lisk partners with Backed Finance to accelerate RWA adoption in emerging markets by integrating Backed's RWA solutions with Optimism Superchain, focusing on multi-applications. Backed eco partners will have access to Lisk's incubator program to foster innovation, and new projects on Lisk utilizing Backed's bTokens can apply for grants of up to $100,000.

CryptoNews.com

2024-07-24 06:00:53

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Sujha Sundararajan

Last updated:

July 24, 2024, 10:00 EDT | 1 min read

Lisk, a prominent Ethereum Layer-2 solution, and Backed Finance, a bridge between real-world assets (RWA) and the blockchain, have formed a strategic partnership to accelerate RWA adoption in emerging economies.

The collaboration aims to leverage Lisk’s blockchain eco with Backed RWA tokenization expertise, specifically focusing on emerging markets.

The partnership would push RWA adoption across multiple applications, “where the potential for economic growth and financial inclusion is significant.”

The partners will explore the integration of Backed’s RWA solutions with the Optimism Superchain, the company press release noted. This would enhance accessibility and scalability for emerging markets within this expanding network, it added.

“Our on-chain RWAs and tokenization solutions, combined with Lisk’s interoperable blockchain platform, create a powerful synergy to unlock new opportunities for individuals and businesses in these rapidly growing economies,” said Bernardo Quintao, Head of Business Development at Backed.

Backed Partners Access Lisk’s Blockchain Incubation Hub

Further, Backed eco partners will gain access to Lisk’s incubator program in a move to foster innovation. The access would facilitate the development of new projects on the Lisk platform.

“This partnership aligns perfectly with our vision of democratizing access to financial services through blockchain technology”, said Erwan Mismaque, COO at Backed.

Lisk Blockchain Incubation Hub supports African entrepreneurs looking to enter the Web3 space. It offers twenty early-stage African startups the opportunity to thrive and succeed in the dynamic world of Web3 technology.

New projects on-boarding on Lisk that utilize Backed’s bTokens or tokenization infrastructure will be eligible to apply for grants of up to $100,000 worth of LSK tokens, the release further noted.

In addition to that, Backed will offer priority tokenization services to clients that are building on Lisk’s L2 solution. This would help streamlining the process and lowering barriers to entry.

Lisk boasts offering some of the lowest transaction fees in the industry, particularly to users and developers in cost-sensitive regions.

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