Polkadot’s Web3 Foundation to put $1m in U.S. tokenized treasury bills, DOT jumps 6%
The Web3 Foundation, dedicated to the development of the Polkadot ecosystem, has announced a $1 million seed investment in tokenized treasury bills. In an X post on Nov. 29, 2023 the Web3 Foundation unveiled plans to put $1 million in tokenized U.S. treasury bills via Centrifuge, an institutional ecosystem for on-chain credit. With the investment, the foundation is said to become the first user of the real-world asset use-case supported and managed through the para-chain in a bit to digitize assets with blockchain technology. Web3 Foundation announces a $1M seed investment in tokenized treasury bills on @centrifuge. We’re thrilled to lead by example as the first user of the real-world asset use-case supported and managed through the parachain. https://t.co/dIXOLkfJRL — Web3 Foundation (@Web3foundation) November 29, 2023 Web3 Foundation Chief Executive Fabian Gompf said in a blog post that the industry of tokenized assets has “massive potential and are steadfast in ...