Luxembourg, June 2020: The government of Monaco has formalized a Memorandum of Understanding with Tokeny Solutions as its technology provider to support the issuance of tokenized financial instruments.
The Luxembourg-based fintech, that is currently setting up a subsidiary in Monaco, and its range of blockchain-based solutions, will allow the Principality to apply control and compliance to the Ethereum blockchain. The initiative will support Monaco with its upcoming regulatory framework to become the world’s first state utilizing the benefits of decentralized finance (DeFi). Monaco’s aim is to become a Funding Nation for progress, a global market where quality projects are developed and financed. To qualify, the projects will require a mandatory label issued by the Ministry of State.