Tokeny Introduces T-REX Standard for Compliant Security Token Transfer
Tokenization platform Tokeny has announced the release of its new T-REX blockchain standard, designed to ensure compliance in security token transfers.
Luxembourg-based fintech company Tokeny announced on Monday the release of its T-REX (Token for Regulated EXchanges) standard, which they created to enforce the compliant issuance and transfer of securities on its platform.
Based on the Ethereum blockchain, T-REX is a decentralized set of global tools designed to allow for the interoperable, frictionless and compliant lifecycle management of tokenized securities. Tokeny’s new infrastructure will also provide onboard investors with technical solutions “in an industry that is surrounded by fraudulent activity”.
According to T-REX’s whitepaper, with the Tokeny standard is implementing a “Compliance by Design” approach where it is “simply impossible” for an investor to buy a security without being compliant.
Tokeny CEO Luc Falempin further explained: “By creating the T-REX standard, we are enabling the issuance of compliant STOs [Security Token Offerings]. There are three key pillars to these tokens, the identity management system, a set of validation certificates and the transfer manager. These three components essentially allow our clients to use a decentralized validator to control transfers and ensure investors meet the obligations in each jurisdiction the tokens are distributed in.”
Falempin added that while evident to the industry, the problems surrounding blockchain technology remain unsettled:
“By recognizing that there are problems and coming up with a set of solutions that address those pain points we are helping form this ecosystem and driving mass adoption across capital markets.”
Tokeny has been quite active recently. Earlier this month, the company teamed up with Security Token Network to provide end-to-end STO services and foster the industry’s development and mass adoption. In October, Tokeny announced another strategic partnership with crypto trading platform Blocktrade.com to promote compliance in security token trading.