Tokeny and Security Token Network Team Up on STO Initiative
Tokeny and Security Token Network will work together to deliver security token offering (STO) services and boost the industry’s broader adoption.
Luxembourg-based fintech company Tokeny has teamed up with Security Token Network to provide end-to-end security token offering (STO) services and foster the industry’s development and mass adoption.
According to a statement issued on Thursday, the strategic partnership will see Tokeny deliver token issuance solutions including token management, deployment, and governance. For its part, Security Token Network will be responsible for the planning, project execution, marketing, and fundraising needed for an STO. Launched in July 2018 and headquartered in London and Shanghai, the firm will also use its platform for security token industry analysis and news to promote the nascent industry. The two companies will also work together to address the current complexity and inaccessibility of STOs.
Tokeny CEO Luc Falempin was quoted in the statement as saying:
“Working with partners such as Security Token Network helps us to achieve our vision and help bring mass adoption to security tokenization. It takes time for traditional players to recognize new technologies but by creating awareness that there is another, much faster, cheaper and reliable way of issuing and managing securities we are helping to drive wider adoption.”
Expressing his delight with the partnership, Security Token Network founder Richard Foster noted that Tokeny is “in this for the long game and will deliver significant value post-STO”. He further noted that the two companies have collaborated before and that this would probably not be their last joint initiative. “It’s early days in the industry, yet we’re already working on deal flow together,” Foster said.
In October, Tokeny announced another strategic partnership. The company teamed up with crypto trading platform Blocktrade.com to promote compliance in security token trading.
More recently, Tokeny made the headlines after being selected by VIVOplay, a leading Hispanic subscription video on demand (SVOD) television and live streaming service operator, to help it launch a token sale event.