David Edwards
On December 13, 2023, Propy’s cryptocurrency token, PRO, experienced a remarkable 93% jump in its value within a single day. This surge occurred following an announcement by the prominent U.S.-based cryptocurrency exchange, Coinbase, regarding its intensified focus on tokenizing real-world assets.
CoinGecko’s data revealed that at one point, PRO’s price briefly exceeded the $0.83 mark, boosting its market capitalization to $40.7 million.
This significant rise in PRO’s value came on the heels of Coinbase unveiling Project Diamond, an initiative aimed at creating and trading debt instruments on the blockchain.
As reported by crypto.news, this development is part of a broader competitive effort to merge conventional financial assets, such as bonds and credit, with blockchain technology. The process, known as the tokenization of real-world assets (RWAs), is anticipated to streamline settlements, cut operational costs, and enhance transparency in financial transactions.
