Utilizing STABLEcoins
As soon as the user initiates a tokenization request, the system performs the following steps:
The STABLEcoins are sent to the treasury.
Genify's bank balance is updated, and the necessary amount is transferred to our asset custodial/investment firm with instructions on which asset to buy and an order to exchange.
Once asset acquisition is confirmed, an RWA token authorization request is sent to the RWA treasury, and the token is emitted to the client.
Redemption works in a reverse manner:
When RWA redemption is initiated, the token is sent to the RWA treasury, and the asset management/ investment firm places a sell order on the exchange for the exact amount of assets to be redeemed.
Upon confirming the asset sale, proceeds are internally transferred to the STABLEcoin backing bank account.
A STABLEcoin authorization request is sent to the STABLEcoin treasury, and the STABLEcoins are emitted to the user.
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