Through the facilitation of linkages between the digital asset landscape and traditional financial institutions, the DAA seeks to close the gap between traditional finance and the revolutionary potential of tokenized real-world assets (RWA). Leaders and visionaries from leading companies and blockchain projects, including DigiFT, Onfet, Tranchess, Banking Circle, and Bright Point International Digital Assets, comprise the founding committee.

As per Polaris Research, the blockchain industry in Asia Pacific was estimated to be worth USD 2.64 billion in 2023 and is anticipated to increase at a rate of 56.8% each year for the foreseeable future. This growth statistic indicates that a blockchain revolution is rapidly arriving, especially considering the trillions of dollars' worth of assets that are predicted to be tokenized by the end of the decade. Asset tokenization is gaining traction globally, but as a pillar of the emerging digital economy, Asian governments and businesses are supporting and expanding asset tokenization projects at an increasing rate. Leading financial institutions in Singapore, including BNY Mellon, DBS, and JPMorgan, are investigating a range of RWA use cases.Asia has been a hub for asset tokenization adoption and activity, involving both governments and businesses, with analysts estimating that the area alone may generate USD 3T in economic opportunities.

By becoming a member of DAA's membership community, XYO is able to obtain unparalleled access to vital new trends and the cutting-edge businesses advancing them, which are advancing the area and the globe at large.

Markus Levin, co-founder of XYO, states, "XYO and XY Labs are honored to join the Digital Assets Association as one of its inaugural members." "This collaboration demonstrates our commitment to growing our presence in Asia and advancing XYO's overarching objective to promote the uptake of innovative blockchain technology by means of significant integrations with conventional finance. As members of the DAA, XYO and XY Labs look forward to contributing to regulatory talks and assisting in the creation of laws that support growth and innovation in this dynamic sector.

“The Digital Assets Association is pleased to welcome cutting-edge data sovereignty protocol XYO to the organization,” says Henry Zhang, Founder & CEO of DigiFT, a founding member of DAA. “We are confident that APAC will continue its momentum and further bolster its position as a blockchain hub. The DAA was established to enable the financial services ecosystem to fully capitalize on the immense potential of tokenization, and collaborating with XYO brings DAA one step closer to fulfilling this vision.”