Tecban, a fintech that provides interconnection technology for banks, has launched a tokenization and associated services platform called Nexchain. This platform facilitates the process of placing assets on the blockchain for third parties as part of the Drex pilot. The platform will be launched in tandem with the second pilot phase of the Brazilian CBDC, and it will not feature its own blockchain.

Tecban to Pilot Brazilian Drex-Based Tokenization Platform

More and more solutions are being tested to solve use cases related to drex, the upcoming Brazilian central bank digital currency (CBDC). Tecban, a fintech that specializes in offering network interconnection services for banking platforms, has announced the launch of Nexchain, a full suite of solutions focused on easing the process of asset tokenization for third parties.

The platform will be launched as part of Tecban’s participation in the second phase of the drex pilot, where companies will show their solutions focusing on different use cases using the Brazilian CBDC. Tecban’s Nexchain will not include its own blockchain for this goal but will be able to plug these tokenized assets into different blockchains.

Tiago Aguiar, executive superintendent of products, new business, and marketing at Tecban told Valor Economico that they intended to mimic the services the company offers to banks with its Banco24Horas ATM network, but in the digital assets world.

He declared:

Banco24Horas was created so that banks would not need to create their own network of ATMs in specific locations.

In the same way, Nexchain seeks to help these third parties set their tokenization platforms without hiring a dedicated tokenization and blockchain team. “It is more efficient if everyone can plug in and create their nodes and we manage them,” Aguiar stressed.

The first application of Nexchain will be as a partner of Personal Card, a social benefits payment company, to reach over 490,000 beneficiaries with uniform payment donations and over 519,000 with donations to acquire school supplies. Nexchain will issue these tokens, pegged to the Brazilian real, allowing retailers to redeem these payments in real fiat currency.