Tokenization infrastructure provider Tokeny has partnered with Ethereum real-estate tokenization marketplace CoFund, according to an April 11 announcement, in a collaboration that will enable CoFund to issue regulatory-compliant ERC-3643 security tokens on the Polygon (MATIC) network to tokenize a $10 million hotel in the Indonesian island resort of Bali.
According to Tokeny, investors can own a piece of the hotel starting with a minimum investment of $1,000. Luc Falempin, CEO of Tokeny, commented:
“Simple ERC-20 tokens and NFTs don’t meet compliance needs. Our technology platform leverages the ERC-3643 token standard to ensure our partners can enforce compliance, even on a permissionless blockchain.”
Giri Kayogiswara, CEO of CoFund, added:
“With Tokeny’s proven platform, we can create a secure and accessible real estate investment market that meets the needs of all types of investors while ensuring compliance. This collaboration takes us one step closer to realizing our vision of a global real estate investment market.”
Tokeny's infrastructure allows issuers to access fully auditable and immutable capitalization tables of securitized tokens directly on the blockchain. It also supports real-time distribution and transfer of tokens to investors.
On Feb. 22, Tokeny facilitated the launch of a tokenized venture capital fund created by the Spanish business podcast Emprendeduros. Investors could participate in the private equity placements with a minimum purchase of 500 euros ($545). Digital fund shares will then be deposited to investors’ digital wallets, with the entire process being digital. Last January, Tokeny received a 5 million euro ($5.45 million) investment led by Inveniam, Apex and K20 Fund. The company is currently headquartered in Luxembourg.
Magazine: Tokenization, Listings, and Trading Trends with Yoni Assia (eToro)