Blockdaemon Blog

Announcing Sandbox Support for Tokenization in Blockdaemon Institutional Wallet™

Wallet
Oct 30, 2023
By:
Conor
Keville
&
We now have sandbox support for tokenization management and transfer. This extends to include added support for ERC-1404 and ERC-3643 tokens.

Today marks a pivotal moment for Blockdaemon Institutional Wallet™ users. 

We're thrilled to announce the sandbox support for tokenization management and transfer, leveraging Ethereum's robust capabilities. This initiative extends to include added support for ERC-1404 and ERC-3643 tokens. As we advance, these features will make their full debut in the Blockdaemon Institutional Wallet™ later this year. 

The sandbox environment enables you to commence evaluations and strategic planning ahead of the official launch. 

To get started, book a call with the Blockdaemon team today for your tailored evaluation, or read on to learn more. 

Why Tokenization Matters

Tokenization is revolutionizing the world of digital assets. 

With it, you can represent real-world assets in a digital form on a blockchain. For institutional clients, this means enhanced liquidity, reduced costs, and quicker asset transfers. 

Now, our sandbox environment lets you get a head start on utilizing these revolutionary technologies.

ERC-1404 and ERC-3643 Support

Blockdaemon Institutional Wallet™ will support both ERC-1404 and ERC-3643 token standards. 

Why are we focusing on ERC-1404 and ERC-3643? Both are Ethereum token standards optimized for institutional use.

  • ERC-1404: Compliance-Focused Token Management

ERC-1404 enables the issuance of digital tokens that adhere to built-in transfer rules, defined at the smart contract level. 

For institutions keen on regulatory compliance, this standard is invaluable. Institutions can set conditions like permitting token transfers only to pre-approved addresses or restricting the quantity of tokens a single address can hold​. By incorporating ERC-1404, our sandbox environment equips you with the means to trial and perfect your compliant asset tokenization strategies.

  • ERC-3643: Streamlined Multi-Token Management

The ERC-3643 standard provides an efficient way to manage diverse classes of tokens under a single suite of smart contracts, promoting a unified interface for institutions with exposures to various asset classes like real estate and commodities. This simplifies oversight, audit, and integration processes. This standard has tokenized over $28bn worth of assets. By offering ERC-3643 support in our sandbox, we enable you to explore the benefits of streamlined asset management ahead of its full-scale implementation.

The sandbox environment allows you to engage with these token standards, tailor strategies, and ensure compliance with institutional norms.

Future-Proof Your Evaluations

Leveraging the sandbox environment, you can:

1. Test Token Transfers: Experiment with the sending, receiving, and management of ERC-1404 and ERC-3643 tokens.

2. Mitigate Risks: Safely simulate various operational scenarios and identify potential bottlenecks.

3. Perform Integration Testing: Examine how tokenization integrates with your existing financial systems and compliance frameworks.

Continuity and Innovation

This new feature comes on the heels of our recent upgrades, which have already set a high bar in institutional staking, security, and audit capabilities. Adding sandbox support for tokenization is a natural progression, meeting the ever-evolving needs of the institutional digital asset market.

Let's Discuss Your Tokenization Strategy

We invite you to begin your evaluation and planning through our sandbox environment. 

Book a call for an in-depth consultation today. Stay ahead of the curve and prepare for the full-scale launch of tokenization features in the Blockdaemon Institutional Wallet™ later this year.

By offering sandbox support for tokenization, we continue to focus on what matters most to you—security, compliance, and your institution's strategic growth. Let’s build the future of digital assets, together.

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