Movement Labs joins the ERC3643 Association, expanding the RWA tokenization standard to non-EVM ecosystems for the first time.

According to TechFlow news on October 22, the core development team of the Move virtual machine public chain, Movement Network, known as Movement Labs, announced its membership in the ERC3643 Association. This marks the first expansion of the ERC-3643 standard beyond the Ethereum Virtual Machine (EVM) ecosystem. ERC-3643 is an identity-based permissioned token standard that has become an industry standard in the tokenization of real-world assets (RWA), adopted by institutions such as Citibank and the Dutch Bank. Cooper Scanlon, co-founder of Movement Labs, stated that RWA tokenization is one of the core design principles of the Move language, and integrating the ERC-3643 standard is an important step towards realizing this vision. Dennis O'Connell, chairman of the ERC3643 Association, noted that this collaboration demonstrates the potential for ERC-3643 to become a unified standard across blockchain environments. Movement Labs previously 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 developing the first Layer 2 solution based on the Move virtual machine on Ethereum.