TechFlow news, on October 22, official announcements revealed that Movement Labs, the core development team behind the Move virtual machine blockchain Movement Network, has announced support for ERC-3643 and joined the ERC3643 Association. This marks the first expansion of the ERC-3643 standard beyond the Ethereum Virtual Machine (EVM) ecosystem, aiming to further meet market demand for high-throughput solutions and alternative programming paradigms.
ERC-3643 is an identity-based, permissioned token standard that has become an industry benchmark in the tokenization of real-world assets (RWA), adopted by institutions such as Citibank and ABN AMRO. Movement Network leverages the Move programming language and can process over 160,000 transactions per second.
Cooper Scanlon, co-founder of Movement Labs, stated that RWA tokenization is one of the core design principles of the Move language. An increasing number of ERC-3643 use cases are now being realized at the open smart contract layer, and Movement Labs will support ERC-3643 as the universal gold standard for on-chain real-world assets. Dennis O'Connell, chairman of the ERC3643 Association, said the collaboration demonstrates ERC-3643’s potential to become a unified standard across blockchain environments.
Previous report, Movement Labs completed a $38 million Series A funding round led by Polychain Capital, with participation from Binance Labs, Hack VC, Placeholder, OKX Ventures, and Archetype. The team is building the first Move VM-based Layer2 solution on Ethereum.
