A Web3 company alliance has launched a new Ethereum token standard aimed at simplifying compliance processes and reducing the fragmentation issues in the growing realm of Real World Assets (RWA).
According to an announcement sent to Cointelegraph, the standard ERC-7943 creates a minimized, modular interface designed to work across Ethereum Layer 2 networks and Ethereum Virtual Machine (EVM) chains while remaining neutral to implementation and vendor-specific infrastructure. This means it can operate in any setting without being locked into any specific company's tools.
Dario Lo Buglio, co-founder of Brickken and author of the Ethereum Improvement Proposal (EIP)-7943, told Cointelegraph that the new standard acts as a "universal layer" sitting above any type of token. This allows developers and institutions to integrate tokenized assets into applications without the need for wrappers and custom bridging.
ERC-7943 is supported by a coalition of Web3 and fintech companies, including Bit2Me, Brickken, Compellio, Dekalabs, DigiShares, Hacken, Forte Protocol, FullyTokenized, RealEstate.Exchange, Stobox, and Zoth.
According to Lo Buglio, EIP-7943 is a direct response to developers' frustrations and a "perfect storm of institutional interest."
Data from RWA tracker RWA.xyz shows that the total value of on-chain tokenized RWAs has reached $28.44 billion, rising nearly 6% in the past 30 days. Meanwhile, the total value of stablecoins and total asset holders has increased by nearly 7% and 9%, respectively.
The growth of RWAs indicates that institutions are currently adopting RWAs on a large scale, with issuers competing for market share. Lo Buglio stated that this highlights the demand for a new token standard that needs to meet the requirements of both developers and financial institutions.
"Financial institutions want programmable control that matches their compliance framework. On the other hand, developers are stuck rewriting custom logic for each RWA token," Lo Buglio told Cointelegraph. "We need a common foundation."
Lo Buglio informed Cointelegraph that the standard has entered the review phase of the EIP process and has received feedback from compliance professionals and other token standard authors.
Early efforts to standardize RWA tokenization on Ethereum included ERC-1400 and ERC-3643. ERC-1400 introduced a hybrid model that combines features of fungible and non-fungible tokens (NFTs) and includes built-in compliance tools.
ERC-3643 focuses on regulated assets such as securities, integrating on-chain identity and permission layers to execute Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
Lo Buglio stated that ERC-1400 was designed to focus on separating logic from storage, and said that ERC-3643 is strong in securities but is tightly coupled with its own identity and permission stack. He noted that, unlike these solutions, it differentiates itself by being a minimized, implementation-agnostic interface.
"EIP-7943 only defines what must exist—rather than how to build it—so any project or protocol can seamlessly plug it into their tech stack," Lo Buglio told Cointelegraph.
Related: SEC Chair says most crypto tokens are not securities, supports "super app" platforms
Original article: “New Ethereum Standard Aims to Set Benchmark for Real World Asset Tokenization”
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