An altcoin focused on asset tokenization has seen a massive price jump after announcing a major partnership.
Sologenic’s Big Jump
The Sologenic (SOLO) platform’s native token, SOLO, exploded in value, climbing over 110% in just 24 hours. The price shot up from $0.29 to over $0.80 before settling slightly lower. This surge followed the announcement of a new collaboration.
A Partnership with Regulatory Backing
Sologenic teamed up with Texture Capital, a US broker-dealer registered with the Securities and Exchange Commission (SEC). This partnership is significant because it brings regulatory legitimacy to the project. Together, they’re creating SoloTex, a new trading platform designed to let big-name investors trade tokenized securities. SoloTex is currently under development and awaiting regulatory approval before launch.
What is Sologenic?
Sologenic, launched in 2019, is a decentralized exchange (DEX) built on the XRP Ledger. It allows users to tokenize and trade various assets, including stocks, cryptocurrencies, and NFTs.
The Future of SoloTex
The combined expertise of Sologenic and Texture Capital in blockchain, regulatory compliance, and finance aims to make SoloTex a leading platform for tokenized assets. However, no official launch date has been revealed yet.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky, and you could lose money. Always do your own research before making any investment decisions.
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