Jiritsu Revolutionizes Real-World Asset Transparency and Verification, Integrates with BlackRock’s RWA Ecosystem
New York, NY, June 6th, 2024, Chainwire
Jiritsu, a pioneering layer one blockchain platform with a native ZKMPC oracle, is launching its integration with the BlackRock ecosystem to increase real-world asset (RWA) transparency and verification. Jiritsu extends the concept of proof of reserves to include the precise value backing any RWA, setting a new standard in the industry.
BlackRock, a global leader in asset management, has made groundbreaking strides in the RWA space. This move underscores the immense potential of RWAs in modern finance. As Larry Fink, CEO of BlackRock, told Reuters that he expects that next-generation securities will be tokenized.
Jiritsu now seamlessly integrates with the BlackRock RWA ecosystem to enhance transparency and tokenization efforts.
The first integration includes an end-to-end solution for assets backed by the BlackRock BUIDL tokens. It encompasses verification of reserves and valuations as well as seamless integration with tokenization, compliance, and KYC/ID platforms.
While many current yielding stable coins that use BUIDL are reliant on self-reporting and only offer annual audits, Jiritsu now provides verification on demand.
With its second integration Jiritsu brings the verified amount of Bitcoin (BTC) in BlackRock’s ETF on-chain.
This significant integration allows DeFi solutions to leverage this information, providing synthetic assets, options and insights into asset flows. This verification of market sentiment makes it possible to deliver solutions with unprecedented transparency.
“We are excited to be integrating with the BlackRock RWA ecosystem,” said Jacob Guedalia, CEO of Jiritsu. “Our capabilities in verifying and tokenizing real-world assets empowers the vision for the future of finance, and we are thrilled to be setting new benchmarks for transparency and trust in the tokenized financial ecosystem.”
Michael Lustig, former Managing Director at BlackRock and current Jiritsu Board Manager, added, “I am very excited to see BlackRock leading the way in tokenized assets with their tokenized fund and Bitcoin ETF. The Jiritsu Network increases transparency and verification for real-world assets. The value of an RWA is only as good as what backing it, and BlackRock is the best in class asset manager. Our current solution to bring Bitcoin ETF flows on-chain, starting with BlackRock, enables decentralized finance (DeFi), and our BUIDL integration brings much needed transparency to real-world assets (RWA).”
With this integration, Jiritsu not only enhances the verification and tokenization of RWAs but also opens up new avenues for DeFi protocols. By providing accurate and real-time data on the verified reserves backing assets like BUIDL and BTC in BlackRock’s ETF, Jiritsu enables secure and innovative financial solutions that are transparent, reliable, and secure.
Jiritsu’s on-chain verifications can be viewed here https://dune.com/jiriledger/jiriledger-metrics.
About Jiritsu
Jiritsu is a leading layer one blockchain platform with a native ZKMPC oracle, designed to provide unmatched transparency and verification for real-world assets. By enabling cost-effective reading and writing on the blockchain, Jiritsu empowers DeFi and tokenization, setting new standards in asset verification and trust.
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