08:36 AM EDT, 04/03/2024 (MT Newswires) -- GK8, a Galaxy company (GLXY.TO) and enterprise-grade blockchain custody and monetization platform, on Wednesday announced the launch of its Tokenization Wizard, an end-to-end application.

A statement said the Wizard guides users through the process of securing traditional assets -- from real estate and fine art to intellectual property and even everyday objects -- in the form of digital tokens. These tokens can then be fractionally owned, traded, and managed on a variety of blockchains.

According to the statement, some analysts are predicting tokenized assets will reach US$4 trillion in market value by 2030. However, tokenization also poses security challenges, making issuers vulnerable to cyberattacks. GLXY said the Tokenization Wizard leverages GK8's multi-tier custody solution, including its Cold Vault technology, provides the "only solution on the market to enable on-chain operations without an internet connection".

The first client to utilize the Tokenization Wizard will be a partnership between asset managers DWS, Flow Traders, and Galaxy that intends to create AllUnity, which aims to revolutionize the on-chain economy by issuing a fully collateralized EUR-denominated stablecoin.