Tokeny Launches Identity Ecosystem for Digital Assets Holders
Tokenization platform Tokeny has launched InvestorID. The DApp was welcomed by Luxembourg finance minister Pierre Gramegna.
Luxembourg-based fintech company Tokeny has launched investorID, a blockchain-powered identity ecosystem for digital assets holders. At the opening event last Friday, Luxembourg finance minister Pierre Gramegna officially became investorID’s first identity holder.
“Fantastic to see such a influential and inspiring figure support what we do,” Tokeny said in a Twitter post.
The tokenization company elaborated in a press release shared with Cryptovest this week:
“We are hugely excited to launch this not-for-profit project, with the purpose of giving control of the identity back to the investor via blockchain technology.”
InvestorID is a decentralized application (DApp) which allows identity holders to keep complete control of their personal data, whilst enabling issuers to operate in full compliance. After performing KYC/AML (Know Your Customer/Anti-Money Laundering) checks, investors can re-use their digital ID from one Security Token Offering (STO) to another. This, according to Tokeny, presents “a win-win situation” for users.
InvestorID is compatible with every security token based on the Token for Regulated EXchanges (T-REX) standard, which was released in December 2018. 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. As noted by Tokeny at the time of the launch, the infrastructure also provides onboard investors with technical solutions “in an industry that is surrounded by fraudulent activity”.
Tokeny has revealed several new partnerships in recent months. In January, the company teamed up with Issuance, a deal marketing platform providing a link to the world of digital securities. Late last year, the firm also announced a collaboration with Security Token Network to provide end-to-end STO services and foster the industry’s development and mass adoption. Back in October 2018, Tokeny also inked a strategic partnership with crypto trading platform Blocktrade.com to promote compliance in security token trading.