4th September, Luxembourg, and Seoul – 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.