The SILC Group (SILC), a renowned alternative assets solutions provider based in Australia with over $2 billion in funds under supervision, has announced a strategic partnership with Tokeny, a leading institutional tokenization solution provider. This collaboration aims to advance SILC’s digitalization vision by transitioning alternative assets onto the blockchain through tokenization.
The partnership kicks off with a pilot project focused on tokenizing a test fund using Tokeny’s innovative tokenization infrastructure. This initiative will evaluate blockchain’s potential to eventually replace the conventional centralized systems currently utilized by SILC to administer funds, facilitating the convergence of investors and capital seekers within the alternative assets industry.
By leveraging the collective expertise of both entities, the goal is to offer compliant tokenization solutions for alternative assets not only in Australia but also across the region. This will involve delivering institutional-grade solutions for issuing and managing real-world asset tokens throughout their lifecycle.
This announcement signifies a monumental stride in the alternative assets sector as institutional participation in blockchain gains momentum and major players enter the market. Traditional methods of issuing financial products often involve complex, time-consuming processes through cumbersome systems. Blockchain technology promises to streamline transactions, automate processes, and provide round-the-clock accessibility through a unified global infrastructure.
SILC will utilize the ERC-3643 token smart contract standard, enabling automated compliance validation processes and facilitating control over real-world asset tokens while retaining blockchain’s inherent features like immutability and interoperability.
Commenting on the partnership, Koby Jones, CEO of The SILC Group, expressed enthusiasm, stating, “Blockchain technology offers a potential paradigm shift in the efficiency of capital markets, with The SILC Group seeking to pass these efficiency and service improvement gains along to our clients. We are excited to be working with Tokeny on this pilot as we explore ways to further support our clients and enhance risk management activities, as well as increase the velocity and scalability of the solutions we provide.”
Luc Falempin, CEO of Tokeny, emphasized the transformative potential of tokenization, stating, “Our collaboration with The SILC Group underscores the growing recognition among regulated institutions of tokenization’s tremendous potential. It’s no longer a question of if tokenization will occur, but rather, when it will fundamentally transform the financial landscape.”
About The SILC Group
The SILC Group specializes in alternative assets solutions, catering to the unique requirements of investment managers, asset sponsors, and wholesale investors. Since its establishment in 2012, The SILC Group has emerged as a leading provider of independent wholesale trustee, security trustee, fund administration, registry, facility agency, and licensing services.
About Tokeny
Tokeny provides a compliance infrastructure for digital assets, enabling financial entities operating in private markets to issue, transfer, and manage real-world assets compliantly and seamlessly using distributed ledger technology. Backed by strategic investors such as Apex Group and Inveniam, Tokeny empowers market participants to unlock significant advancements in the management and liquidity of financial instruments.
Photo by Ondrej Machart on Unsplash
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