Tokeny, the global leading tokenization platform, announces its strategic alliance with Klaytn Foundation, an EVM-compatible public blockchain developed by the renowned Korean IT giant, Kakao. This strategic alliance is set to catalyze the widespread adoption of Real-World Asset (RWA) tokenization, empowering the Asian markets to embrace this cutting-edge financial evolution. A number of RWA projects relating to commodities, accounts receivables, and more are already live or in development on Klaytn.
The cornerstone of this partnership lies in the provision of a seamless infrastructure for companies to effortlessly issue, manage, and distribute tokenized RWAs via Klaytn’s robust network. Tokeny’s state-of-the-art tokenization platform adheres to the industry-standard ERC3643 for RWA tokenization, ensuring compliance and interoperability.
Diverging from the world of cryptocurrencies, fractionalizing RWAs requires issuers to establish investment vehicles, holding these assets. By issuing financial instruments such as shares or debts of the vehicles, issuers enable investors to participate in the RWA investment opportunities. Tokenized RWAs are the representation of these financial instruments on-chain.
The complexity arises from the necessity to enforce compliance on the blockchain with existing regulations. This entails that only investors meeting predetermined criteria can qualify as asset owners, thereby mandating rigorous adherence to the stipulated Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
Tokeny’s platform elegantly resolves this intricate challenge by leveraging the ERC3643 token standard. Through reusable digital identities and verifiable credentials, this standard ensures that only qualified investors can engage in transactions involving tokenized RWAs. Their platform has been used to tokenize more than $28 billion in assets.
“RWA tokenization is rapidly gaining traction in the Asian market. Drawing from our six-year track record in Europe, we are thrilled to collaborate with Klaytn, extending our expertise to Asia to simplify the capital market through tokenization. As digitization takes center stage in Asia, in line with the efficiency seen in other aspects of daily life, investors are demanding real-time and user-friendly financial services. The time is ripe for Asian issuers to seize this market opportunity, and we’re eager to accelerate their market entry with our platform, enabling them to retain current clients and attract new ones.“ Luc Falempin, CEO of Tokeny
“In the world of RWA tokenization, ERC3643 reigns as the paramount standard. It is the catalyst that propels us towards a token-centered economy, where compliance harmonizes with interoperability. As this standard sweeps the industry across the globe, we’re determined to extend its reach within our community, forging a new era for tokenization. Tokeny takes the center stage, an enabler that propels the Asian market into an era of massive adoption, meticulously crafting the most comprehensive platform atop this very standard.“ Sam Seo, Representative Director of Klaytn Foundation
As a united force, Klaytn Foundation and Tokeny set out to dissolve barriers and digitize capital markets in Asia. Their shared goal transcends complexities, aiming to make value transfer as effortless as an e-commerce experience. Together, they forge an ecosystem that thrives on real-time interaction, peer-to-peer transactions, unwavering transparency, and seamless interoperability—a visionary financial realm sculpted by RWA tokenization.
Developed by leading Korean IT company Kakao, Klaytn is a global Layer 1 public blockchain designed to power tomorrow’s on-chain world. With the lowest transaction latency amongst leading blockchains, enterprise-grade reliability, and a developer-friendly environment, Klaytn provides a seamless experience for users and developers that is second to none. Since its launch in June 2019, Klaytn has been accelerating blockchain mass adoption through a broad array of use cases from DeFi to real-world assets, entertainment and gaming, and even the Bank of Korea’s CBDC pilot project. Today, it is one of the only globally competitive Web 3.0 ecosystems developed in South Korea, generating more than 1 billion transactions from over 300 decentralized applications.
Tokeny provides a compliance infrastructure for digital assets. It allows financial actors operating in private markets to compliantly and seamlessly issue, transfer, and manage securities using distributed ledger technology. By applying trust, compliance, and control on a hyper-efficient infrastructure, Tokeny enables market participants to unlock significant advancements in the management and liquidity of financial instruments. The company is backed by strategic investors such as Euronext and Inveniam.