Lition, the only scalable public-private blockchain with deletable data features made for commercial products and Tokeny, the compliant tokenization platform delivering institutional grade solutions in the issuance, lifecycle management and secondary trading of digital securities, today announced a cooperation. Both parties will work together to tokenize securities in a fully legally compliant way, including the ability to protect and delete private data, while preserving typical features of a blockchain like immutability and security.
The announcement marks a big step forward in the industry, as institutional involvement across blockchain begins to ramp up and significant players enter the market. The traditional way of issuing securities is time-consuming, multi-tiered and involves many middlemen using local and cumbersome systems. Through blockchain technology, parties can benefit from using one single and global infrastructure that improves transaction speeds, utilizes automation and is accessible 24/7/365 days a year.
Lition has previously signed an agreement with a real estate development company and two branches of the VR Bank, a leading banking conglomerate in Germany with assets over $1 trillion to develop a solution to process syndicated loans on Lition’s proprietary blockchain infrastructure. The loan volume for a housing complex in Germany has a volume of approx. €20 million, which will now be the basis to issue security tokens created using Tokeny’s T-REX (Token for Regulated EXchanges) standard.