Tokeny Teams Up with Issuance to Boost Asset Tokenization
Issuance would connect Tokeny’s platform with prospective clients from the world of traditional assets.
Tokenization platform operator Tokeny announced on Thursday a partnership with Issuance, a deal marketing platform providing a link to the world of digital securities. The new alliance comes amid growing interest in security tokens, which connect traditional and digital assets.
“There is a global lack of interconnectivity and access to the trillions of dollars worth of assets in traditional capital markets,” Issuance CEO Darren Marble noted.
He went on to add that the partnership would support “the establishment of a digital securities ecosystem that will completely revolutionize the way in which the value and ownership of any asset class are realized, accessed, and distributed on a global scale.”
To achieve its goal of tokenizing securities, Tokeny has introduced the T-REX protocol (Token for Regulated Exchange), allowing for a legal, traceable, and immutable approach to transferring security tokens. While the Ethereum network is freely available for token transfers, the T-REX protocol standardizes the token issuance and distribution protocol.
“We are on the cusp of a new paradigm for investors, in which the value and ownership of any asset class – funds, real estate, equity – can now be digitized in the form of tokens capable of being subdivided, traded 24/7, and accessed globally,” commented Luc Falempin, CEO of Tokeny.
Issuance is in the midst of a capital-raising round and intends to tokenize the funds in the future. The company will then seek to trade its securities on OpenFinance Network ATS - the first live, regulated digital assets trading platform in the United States. The role of Issuance is to boost outreach for the Tokeny offerings and achieve the first wave of US-based, freely tradable security token offerings (STOs).
STOs are displacing the initial coin offering (ICO) funding model, where token sales dwindled to zero in the past months. STO tokens are believed to offer a better chance at returns since they would depend on the underlying business or a real-life asset.