DEX aggregator 1inch has partnered with Ondo Finance to enable access to tokenized real-world assets (RWAs) through its Swap API. Bitget and Trust Wallet are notably among the API partners that have already integrated this upgrade to grant their users access to these assets.
1inch Enables Tokenized RWA Support Via Swap API
In a press release, the DEX aggregator announced that it has upgraded its Swap API to support tokenized RWAs, enabling access through its dApp and wallet for eligible users, excluding those in the U.S. and other restricted regions. This update is also available through partner integrations using the Swap API via the 1inch DevPortal.
The crypto firm noted that it developed this improved API to address liquidity, which is one of the biggest hurdles to RWA adoption. With its market-leading aggregation, 1inch declared that accessing these assets will become as easy and efficient as swapping native crypto assets.
Meanwhile, the DEX aggregator revealed its partnership with Ondo Finance, which made this update possible. CoinGape earlier reported today that Ondo launched its Global Markets, which offer non U.S. investors up to 100 tokenized stocks and ETFs on Ethereum. The firm also plans to expand this offering to over 1,000 tokenized RWAs by year-end.
1inch stated that the RWA support marks another milestone in its vision to unify DeFi and democratise access to finance as it works with Ondo Finance to make these tokenized assets transferable, DeFi-compatible, and fit for integration across the ecosystem.
Commenting on this update, 1inch’s co-founder Sergej Kunz noted that tokenization of real-world assets is “tomorrow’s tech being adopted today.” He further remarked that the upgrade of the Swap API enables “efficient, jurisdiction-aware access to tokenized assets through the 1inch ecosystem.”
How The RWA Swaps Will Work
The top DEX aggregator explained that resolvers and professional market makers will execute the RWA swaps to ensure a seamless and secure trading experience. Furthermore, all existing Swap API integrators can now again access the RWAs for their eligible users.
Trust Wallet has already announced using the 1inch Swap API to provide its users access to these tokenized RWAs. The wallet’s over 200 million users will now be able to access these assets with USDC, similar to how they purchase crypto assets.
Bitget Wallet also announced that Ondo Finance’s tokenized U.S. stocks and ETFs are now available on its platform via the Swap API. Users will be able to access these traditional assets right from these wallets.
1inch’s native token is up amid the announcement of the Swap API upgrade. TradingView data shows that the token is currently trading at around $0.2486, up almost 2% in the last 24 hours.
Coingape Staff
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Source: https://coingape.com/1inch-taps-ondo-finance-to-unlock-access-to-tokenized-rwas/