PwC

PwC and Xalts partner to promote tokenization in finance

The deal will allow both parties to leverage on business opportunities in blockchain technology.

PwC China and Xalts have announced their joint business relationship that aims to promote tokenized, programmable assets, and other blockchain technology applications in financial services. 

PwC China partner Peter Brewin said the agreement “allows PwC and Xalts to explore business opportunities within the blockchain and tokenization space.”

“PwC sees enormous potential for programmable assets to deliver important innovations for the financial services industry, including wholesale payments and trade finance,” he added.

According to PwC, Xalts’ technology infrastructure comprises modular application studios which combine smart contract libraries compatible with multiple blockchains with no-code workflow orchestration and design. This enables financial institutions to compose solutions that connect multiple off-chain systems and processes with on-chain solutions. 

The hybrid nature of the solution also allows financial services clients to implement production-ready solutions that are regulatory compliant and do not require a lot of upfront investment.

ALSO READ: Investors must venture on regulated virtual assets platforms amidst JPEX incident: Lee

This partnership comes after the Hong Kong Monetary Authority (HKMA) launched the wholesale central bank digital currency (wCBDC) Project Ensemble. Prior to this, HKMA tested retail CBDC in May 2023 and recently announced a stablecoin issuer sandbox.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!