Tokeny Solutions just received strong support from one of the most reputable financial institutions in the EU – Euronext. The support came in the form of €5 Million in funding to further Tokeny’s already successful issuance platform. The move catapults Tokeny to the center stage of blockchain development in the EU. Additionally, it provides Euronext with a strong voice in the platform moving forward.
News of the investment first broke on July 1, 2019, via a Tokeny Solutions blog post. The post explained that Euronext gained 23.5% representation in Tokeny as part of the arrangement. It also described some of the key benefits that both parties obtained from the maneuver.
Tokeny Solutions gains significant market penetration and influence as part of the deal. Their new partners, Euronext are a major player in the marketplace. They hold considerable sway in multiple EU markets including Belgium, France, Ireland, Portugal, UK, and the Netherlands. All of these locations have shown growing interests in blockchain-based investments.
Euronext is one of the premier Pan-European exchanges. Currently, the firm manages over 1300 issuers globally. Notably, the issuers equal a total market cap of around €3.5 trillion. Also, the firm specializes in Blue chip issuers, with 24 official issuances to date.
Since its inception, Euronext operated a fully regulated equity and derivatives market with success. Notably, the platform serves as the largest center for debt and funds listing globally. Additionally, Euronext provides technology and managed services to third-parties via a number of programs.
Pivot towards Blockchain
Euronext has had its eyes on blockchain technology for some time now. Previously, the firm created its own blockchain-based company called LiquidShare to further these aspirations. Now, after recognizing Tokeny’s capabilities, Euronext plans to integrate this knowledge and understanding into LiquidShare. Currently, LiquidShare specializes in post-trade services.
Tokeny entered the market in a major way in 2017. The company started with the goal to provide an end-to-end solution for private market securities issuers via blockchain technology. The company has seen great success since its entrance into the market. Currently, Tokeny operates in five continents.
One of the unique aspects of the Tokeny platform is the use of the T-Rex protocol. T-Rex integrates programmable compliance and regulatory features directly into the token’s main protocol. These smart contracts are then used to ensure that each T-Rex token remains compliant throughout its lifecycle.
Notably, Tokeny received the 2019 startup of the year award at KPMG’s FinTech Awards in Luxembourg. The company continues to expand its capabilities. Today, Tokeny is able to tokenize a huge selection of financial instruments including equities, debt-like instruments, funds, and securities. The firm now offers streamlined services to make tokenization easier than ever before.
Tokeny Solutions Set to Expand
Considering the success of both Euronext and Tokeny to date, it’s easy to imagine a scenario where this partnership expands the reach of both platforms. For now, Tokeny is set to take its share of the emerging EU digital securities markets to the next level.
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