Blockchain
IOTA Partners with Tokeny to Enhance Enterprise-Level Tokenization
IOTA has announced a strategic partnership with Tokeny to integrate Tokeny’s enterprise-level tokenization technology into the IOTA Ethereum Virtual Machine (EVM). This collaboration aims to improve on-chain compliance and control over token transactions, ensuring that only qualified investors can participate, according to the IOTA Foundation Blog.
Enhancing Enterprise-Level Tokenization on IOTA EVM
For companies venturing into decentralized finance (DeFi), adhering to legal requirements such as anti-money laundering (AML) and securities regulations is crucial. Compliance protects investors, ensures transparency and fairness, maintains market integrity, and builds trust—essential elements for the sustainability of financial markets. Additionally, compliance allows companies to access critical financial services, maintain their reputation, and expand globally.
Key Integration Details: Tokeny Meets IOTA EVM
The integration of IOTA EVM with Tokeny’s technology aims to bolster enterprise tokenization and secure digital asset management within IOTA’s ecosystem. Tokeny, a leader in white-label tokenization platforms, will enhance how enterprises leverage IOTA EVM by integrating its cutting-edge compliance technology for enterprise-level tokenization.
IOTA EVM:
- Designed to be a high-velocity, plug-and-play environment.
- Supports the seamless deployment and management of smart contracts within the IOTA network.
- Leverages IOTA’s core strengths, making it an ideal platform for enterprises looking to innovate with tokenization solutions.
Tokeny’s Compliance Infrastructure:
- Uses the ERC-3643 open-source suite of smart contracts to facilitate the issuance, management, and transfer of permissioned tokens.
- Integrates automated on-chain compliance checks to ensure transactions are restricted to verified investors.
- Provides issuers with control over their tokens, including capabilities to freeze or recover them if necessary.
Leadership Insights
Luc Falempin, CEO of Tokeny: “This partnership aligns with our vision of enabling institutions to leverage desired network benefits. IOTA’s unique Layer 1 protocol architecture enables scalability and fee-less transactions. Our role is to facilitate rapid tokenization to accelerate adoption and meet evolving market demands.”
Dominik Schiener, Co-Founder of IOTA: “We are thrilled about Tokeny’s integration as it perfectly aligns with our mission to democratize access to tokenized real-world assets (RWA) and financial instruments in our ecosystem. Tokeny stands out as the most advanced institutional-grade tokenization platform supporting market standard ERC-3643, poised to accelerate institutional tokenization on IOTA EVM.”
Impact on Enterprises
Enterprises and developers looking to tokenize assets securely on IOTA EVM can now conduct large transactions with the assurance of automatic compliance checks, thanks to Tokeny. This ensures interactions only with qualified investors and provides complete control over digital assets.
This integration not only opens up new possibilities for efficiently managing and transferring digital securities but also ensures that these processes meet stringent compliance standards. Whether the goal is to issue, transfer, or manage digital assets, the enhanced IOTA EVM, bolstered by Tokeny’s technology, offers a robust foundation for enterprise projects.
Source: blockchain.news
The post IOTA Partners with Tokeny to Enhance Enterprise-Level Tokenization appeared first on HIPTHER Alerts.
Blockchain
Switzerland Regulatory Technology Business Report 2024: Market to Surpass $550 Million by 2029, Driven by Collaborative Opportunities and Data Privacy Solutions
Swiss RegTech Market
Following a management buy-out by the management team at TOKO FZE, the business has been rebranded as Scintilla, the revolutionary platform providing on-chain solutions and services to make investments more inclusive, accessible, and efficient. Having been developed within DLA Piper’s Law& innovation portfolio, TOKO – now Scintilla has a fresh brand identity, new leadership, and innovative product offerings. Scintilla is set to reshape the future of finance by enabling businesses to unlock the power of blockchain technology across various asset classes, with DLA Piper remaining as a minority shareholder.
Regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), Scintilla is one of the first digital asset companies to gain full market licenses, marking a significant milestone in the sector’s landscape. Being a regulated entity underscores Scintilla’s commitment to the highest standards of compliance and security while pioneering new solutions for tokenization in the global market.
Innovating Finance Through Tokenization
Scintilla offers a comprehensive suite of tokenization services designed to bring liquidity, transparency, and efficiency to traditional finance sectors. From tokenized financial products, and real estate all the way to new legal funding products, Scintilla’s digital asset solutions enable clients to tokenize assets that were previously inaccessible to investors or illiquid.
Scintilla’s services include:
Advisory Services: The gateway to successful market entry. From initial opportunity assessment to strategic development of game-changing tokenization-based solutions.
Use Case Development: Bringing products to life. From initial POC development and iteration towards MVP all the way through to the full market launch.
Broker/Dealer Services: Creating new markets. Regulated primary market trading, ensuring the highest levels of trust and security within the tokenization space.
Exchange Services: Universal participation. Seamless, secure secondary trading of tokenized assets, with industry-leading technology and compliance standards.
Scintilla is uniquely positioned to capitalize on the confluence of Dubai’s world-leading regulatory environment, cutting-edge technology, and the burgeoning RWA market.
A New Era for Scintilla
The relaunch of Scintilla represents more than just a rebranding—it signifies the company’s growing ambition to lead in the digital asset space. With an expanded team of industry experts, including continuing Board representation from DLA Piper, and a clear strategic vision, Scintilla is set to drive the adoption of tokenization in traditional financial markets.
“Our relaunch marks the beginning of an exciting new chapter for Scintilla and the wider industry. We are committed to pushing the boundaries of what is possible in digital finance while ensuring our solutions are underpinned by strong regulatory compliance,” said Tim Popplewell, CEO of Scintilla. “With our new suite of products and services, we are empowering investors to transform the way they manage and access value.”
Jean-Pierre Douglas-Henry, Managing Director, Sustainability and Resilience, DLA Piper added: “Innovation is a key strand in our business strategy. As our business focuses on developing and nurturing innovations that add significant value to our clients through our Law& innovation program, it is fantastic to see this solution spun out into the thriving digital asset space for the next stage of its growth and development.”
The post DLA Piper’s crypto tokenization engine TOKO relaunches as Scintilla appeared first on HIPTHER Alerts.
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