Before the deal, Fluidity dealt with the development of the AirSwap decentralized protocol. Propellr, on the other hand, was a company that concerned itself with the creation and management of digital assets.
Michael Ovid, a creator of AirSwap, said that AirSwap and Factora will contribute massively to the tokenization of real-world assets. He added that they are planning to integrate blockchain technology into the capital markets. Michael concluded by saying that they were excited to be on the forefront of creating technologies that will disrupt the entire global economy.
Todd Lippiat, the CEO of Propellr, said that blockchain technology will improve the transparency of financial information across capital markets. He added that they were happy to work with Fluidity to create a tokenization infrastructure that is easy to adopt.
Before this merger, Propellr focused on the tokenization of real estate assets. The expected influx of institutional investors in the crypto space is likely to spur the tokenization of digital assets. According to Bill Tai, a venture capitalist, this trend will improve the efficiency of transactions.
Additionally, tokenization of physical assets can significantly improve liquidity. The existent private securities market is plagued by illiquidity and non-transparency. Factors will leverage blockchain technology to provide a lasting solution to these challenges.
Eventually, Fluidity Factora intends to bridge the gap between blockchain and the financial services industry. This is certainly great news for participants in finance sector which has inexplicably lagged behind as compared to other industries in terms of technological advancement.
The merger is currently all but done, with only the regulatory approval remaining.