CoFund tokenizes $10M hotel in Bali via Tokeny

April 11, 2023 Coin Telegraph

bali

The minimum purchase amount for the hotel's tokenized ownership is $1,000.

On Apr. 11, tokenization infrastructure provider Tokeny announced a new partnership with Ethereum real-estate tokenization marketplace CoFund. The deal would enable CoFund to issue regulatory-compliant ERC-3643 security tokens on the Polygon (MATIC) network to tokenize a $10 million hotel in the Indonesian island resort of Bali.

According to Tokeny, investors can own a piece of the hotel starting with a minimum investment of $1,000. Luc Falempin, CEO of Tokeny, commented:

"Simple ERC20 tokens and NFTs don't meet compliance needs. Our technology platform leverages the ERC-3643 token standard to ensure our partners can enforce compliance, even on a permissionless blockchain."

Meanwhile, Giri Kayogiswara, CEO of CoFund, added:

"With Tokeny's proven platform, we can create a secure and accessible real estate investment market that meets the needs of all types of investors while ensuring compliance. This collaboration takes us one step closer to realizing our vision of a global real estate investment market."

*A luxury resort in Bali | Source: Balidave*

Tokeny's infrastructure allows issuers to access fully auditable and immutable capitalization tables of securitized tokens directly on the blockchain. It also supports real-time distribution and transfer of tokens to investors.

On Feb. 22, Tokeny facilitated the launch of a tokenized venture capital fund created by Spanish business podcast Emprendeduros. Investors could participate in the private equity placements with a minimum purchase of 500 euros ($545). Digital fund shares will then be deposited to investors' digital wallets, with the entire process being digital. Last January, Tokeny received a 5 million euro ($5.45 million) investment led by Inveniam, Apex, and K20 Fund. The company is currently headquartered in Luxembourg.

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Enterprise crypto custody firm Fireblocks integrates Tokeny for token minting

August 2, 2022 Coin Telegraph

Coin Telegraph

The integration allows institutional-grade users to mint and manage their tokens along with managing their conventional cryptocurrency portfolios.

Enterprise cryptocurrency custody firm Fireblocks is set to offer token minting services through a new integration with Ethereum- and Polygon-friendly platform Tokeny.

The new feature allows businesses and retail customers to mint and manage permissioned tokens, digital securities, stablecoins and loyalty programs across various trading applications, payment networks and digital banks. Fireblocks and Tokeny make use of ERC-3643 security tokens deployed on the Ethereum and Polygon blockchains.

Fireblocks provides an enterprise solution for moving, storing and issuing digital assets to exchanges, lending desks, custodians, banks, trading desks and hedge funds. Fireblocks' technology is used by more than 1,300 financial institutions, and the company claims to have processed more than $3 trillion in digital asset transfers to date. The latest integration offers institutional-grade users the ability to mint and manage their tokens along with managing conventional cryptocurrency portfolios.

The company was founded in 2019 by three cyber security experts that had investigated a series of hacks on South Korean exchanges conducted by the Lazarus Group for Check Point Research. The trio formed Fireblocks as a a secure platform for financial institutions to protect digital assets from online threats using MPC technology to secure private keys and API credentials.

The company is considered a cryptocurrency unicorn, having raised well in excess of $500 million in the three years since its inception. Its list of corporate users includes cryptocurrency exchanges, hedge funds, market makers and over-the-counter trading desks like BlockFi, eToro, Galaxy Digital, Celsius and Crypto.com.

Fireblocks was most recently valued at over $8 billion in January 2022, following a series E fundraising round that takes its overall investments raised to just under $800 million.

Tokeny had an eventful 2021, processing $28 billion worth of assets that were tokenized through its solutions. The firm's technology allows financial institutions to issue, transfer and manage securities and tokens that are cross-functional across the Ethereum and Polygon blockchains.

Royal Museum of Fine Arts Antwerp tokenizes million-euro classic masterpiece

May 9, 2022 Coin Telegraph

Antwerp

Tokeny claims the tokens are complaint with both the Ethereum and Polygon blockchains.

According to blockchain digitization provider Tokeny, on Monday, the Royal Museum of Fine Arts Antwerp (KMSKA) has become the first European museum to tokenize investment in fine art, starting with Belgian painter James Ensor (1860 – 1949)’s painting Carnaval de Binche. Investors can obtain fractional ownership of the work starting from 150 euros. The venture is a joint effort between KMSKA, Tokeny and blockchain art entity Rubey, with the tokens themselves being ERC-3643 compliant and launching on the Polygon (MATIC) blockchain.

As told by the parties, the ultimate goal of the collaboration is to lower the investment barriers to entry and enable everyday users to become co-owners of expensive fine art pieces that are typically only accessible by affluent individuals. Via an innovative fundraising method, an Art Security Token Offering, individuals were able to collectively purchase and ensure that KMSKA receives it on a long-term loan.

Unlike nonfungible tokens, the Art Security Tokens in the transactions are backed by debt instruments. Therefore, Rubey selected Tokeny's tokenization APIs to issue and manage securitized tokens in a regulatory-compliant manner. Regarding the development, Luc Falempin, CEO of Tokeny, commented:

"We share the same vision as our partners KMSKA and Rubey that security tokens will have a real impact on the art industry by allowing smaller investors to invest and engage in artworks that already have existing value."

Meanwhile, Luk Lemmens, President of KMSKA, added:

"KMSKA already had the largest Ensor collection in the world. The addition of Carnaval de Binche puts our museum on the international map as an Ensor center of excellence even more."

Enegra migrates digitized equity tokens from Ethereum to Polygon blockchain

November 5, 2021 Coin Telegraph

Coin Telegraph

The firm selected the Polygon blockchain for its low transaction fees and fast transaction time.

Enegra Group, a commodities trading firm based in Malaysia with a net asset value of $28 billion, has migrated its equity-tied EGX security tokens to the Polygon (MATIC) blockchain from Ethereum (ETH). In 2019, Energra tokenized 100% of its equity, enabling shareholders to digitally exercise their dividend, voting and governance rights. Both the initial tokenization and token migration were facilitated by Tokeny, an asset tokenization and compliance infrastructure provider.

Matthew Averay, managing director and CEO at Enegra, said:

We tokenized our equity to improve liquidity. And, now that the technology is available for faster, cheaper and compliant transactions on the blockchain, we wanted our investors to take advantage of it. Polygon and Tokeny provided the complete infrastructure we needed to do so, and we are extremely pleased with the results.

Meanwhile, Sandeep Nailwal, co-founder at Polygon, commented:

The tokenization of real-world assets and financial securities is probably the next big wave in DeFi, and we are excited to see our partner, Tokeny, bring qualitative and compliant assets to the Polygon network. By leveraging our infrastructure with the right software provider, such as Tokeny, businesses can quickly deploy or convert their assets to Polygon.

1/2 @enegragroup is coming to #Polygon, all thanks to @TokenySolutions

Enegra is one of the world’s first regulated companies to issue equity-backed digital security tokens, under security token code EGX on the Polygon network.

Learn More: https://t.co/gVegl4QDsH pic.twitter.com/jUN5g7IgSp
— Polygon | $MATIC (@0xPolygon) November 5, 2021

Finally, Luc Falempin, CEO at Tokeny Solutions, added the following statement:

Issuers of tokens don't need to worry anymore about being blocked on a blockchain forever. Without losing any history, we now have the tools and processes for smooth migrations from one network to another.

Polygon is a protocol designed for scaling and developing infrastructure on the Ethereum blockchain. According to PolygonScan, the network processes over 3 million transactions per day and has approximately 105 million unique wallet addresses. Altcoin blockchains with low transaction costs continue to surge in popularity as of late, due to high gas fees on the Ethereum network — which currently hover around $153 per smart contract execution.

Tokeny

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