Sologenic to Unveil XRP Ledger-Powered DEX Before March End
Sologenic (SOLO), a network facilitating both trading and on-demand tokenization of assets such as ETFs, stocks and fiat on the XRP Ledger, will come into operation with its Sologenic DEX sometime this month.
As Bob Ras, CEO of cryptocurrency exchange CoinField and co-founder of Sologenic, tweeted that the mobile & web application variants will be rolled out in March.
The DEX offers a decentralized wallet for SOLO, XRP and tokenized assets, provide access to the XRPL DEX and enables trading on 24×7 basis, and link with PayString, a technology structured to offer a universal payment identifier and pave way for cryptocurrency dealings through PayMe+, and back other wallets such as XUMM and Ledger.
The Sologenic DEX will be launched this month in Mobile & Web app versions.
The main focus was to create a decentralized app that can make the trading / storing of assets as easy as possible without all the confusion of an ordinary DEX.
YES, IT’S BUILT ON THE #XRPL
See comment pic.twitter.com/PVqxagI6Ir
— Bob Ras (@bobrasX) March 2, 2021
As stated above, Sologenic is a platform created over the XRP Ledger that facilitates on-demand tokenization of a huge variety of assets traded on conventional markets. Sologenic’s aim is to connect the gap between traditional financial markets and cryptos by paving way for the platform to facilitate both investment and trading of crypto and non-blockchain assets in the list of top 30+ top exchanges across the globe. Overall, Sologenic intends to tokenize more than 40,000 stocks, commodities & ETFs.
“Our vision is to facilitate mass adoption of cryptocurrencies globally by enabling people to tokenize the economy on XRP’s blockchain and use cryptocurrencies in any way possible.”
SOLO is the native crypto of the Sologenic ecosystem, structured for offering liquidity and market making. The token was distributed on the XRP ledger, ensuring the availability of instant liquidity and build an “a dynamic bridge.”
The SOLO token was introduced on CoinField through an Initial Exchange Offering (IEO) in February last year. At the time of writing this article, SOLO, which was trading at $1.23, stood as the 225th largest crypto in terms of market cap.