TOKI serves as an Inter-Blockchain Communication (IBC) bridging solution, enabling seamless connectivity between various blockchains, including Cosmos appchains and Ethereum Virtual Machines (EVMs). The development of the internal framework is being carried out by Datachain, a dedicated research and development team with expertise in blockchain interoperability and the creation of the internal Cosmos protocol, in close collaboration with leading enterprises. The implementation of Inter-Blockchain Communication (IBC) in Solidity has been successfully realized by Datachain, with the support of the Interchain Foundation. TOKI recently partnered with Progmat, a movement that facilitates the issuance of stablecoins on prominent public blockchains such as Cosmos and Ethereum. This collaboration includes notable Japanese organizations, namely the Japan Exchange Group (JPX), MUFG, and SMBC.
The establishment of a reliable stablecoin is of paramount importance to Japan as it plays a vital role in positioning the country as a prominent cryptocurrency hub for tokenized assets on public blockchains. Japanese enterprises have the opportunity to harness the potential of the blockchain framework to streamline the process of embracing digital assets. The recent revisions to Japan’s Payment Services Act have effectively created an environment conducive to fostering stablecoin innovation. The partnership between Progmat, Japanese banks and TOKI will have a significant impact in facilitating the adoption of permissionless stablecoins by Japanese companies.
The collaboration between TOKI and Noble facilitates the seamless integration of Cosmos appchain applications. This integration enables users to execute a wide variety of cross-chain use cases within a single transaction. As a result, this collaboration plays a vital role in driving the progress of the ecosystem. Prominent applications include cross-chain swaps, lending and migration.
Noble, a renowned asset issuance platform, has entered into a strategic partnership with Circle. This collaboration aims to introduce USDC, a widely recognized stablecoin, to the Cosmos ecosystem. The goal is to entice institutional partners to participate in the dynamic and ever-evolving interchain network. TOKI’s primary goal is to accelerate the integration of Japanese stablecoins into the ecosystem. This initiative aims to address the urgent need to incorporate fiat-backed stablecoins in Japan and attract Japanese companies to participate in the ecosystem.
TOKI’s implementation of the initial IBC-backed unified liquidity solution enables users to effortlessly perform token swaps between various blockchains, including Cosmos appchains and EVM chains such as Ethereum, within a single transaction. Furthermore, TOKI offers support for a range of stablecoins, such as USDC and USDT.
According to Jelena, the esteemed founder of Noble, the integration of Japanese stablecoins is about to unleash the benefits associated with Web3 affiliates. The primary goal of the partnership with TOKI is to facilitate widespread adoption of the ecosystem by providing fiat-backed stablecoins to the Cosmos community.
Progmat is a cutting-edge initiative that focuses on converting diverse forms of value into digital assets while promoting societal connectivity through programmable networks.
TOKI has been carefully designed to provide robust, scalable cross-chain bridges that prioritize both security and user experience. The platform offers three primary features: enhanced security and extensibility, efficient liquidity and token exchange capabilities, and a strong emphasis on composability.