Tokeny and Security Token Network have announced a new partnership. Each company offers services tailored towards the emerging digital securities industry. This partnership will see tasks associated with the STO/DSO process divided up as follows:
- Token Management
Security Token Network
Cumulatively, the goal is to provide an end-to-end solution. This will ideally lower the perceived barrier to entry into the sector, as companies are eager to take part.
Initiatives such as this are imperative to the continued growth of the blockchain industry. With 2018 proving to be a harsh and unfriendly environment towards ICOs, STO/DSOs are of increasing importance. They are a means for blockchain to be implemented in a regulated environment; An environment that provides the lure of enticing benefits such as the oft touted liquidity, safety, and transparency.
Founded in 2017, Tokeny is based out of Luxembourg. Company services are geared towards fostering the growth of digital securities. By offering token issuers a structured platform for the tokenization of their product, Tokeny stands to serve as a catalyst in this young industry.
Speaking on the announced partnership was Tokeny CEO, Luc Falempin. He stated, “Working with partners such as Security Token Network helps us to achieve our vision and help bring mass adoption to security tokenization. It takes time for traditional players to recognize new technologies but by creating awareness that there is another, much faster, cheaper and reliable way of issuing and managing securities we are helping to drive wider adoption.”
Security Token Network
Founded in 2018, Security Token Network is based out of England. While Tokeny provides token issuers with the framework to tokenize their products, Security Token Network provides a platform to market their STO/DSO.
Speaking on the announced partnership was Security Token Network founder, Richard Foster. He stated, “We’ve been closely collaborating with the Tokeny team on a number of initiatives, and they’ve been great to work with at every level. What really captured our attention was their focus on lifecycle management and corporate governance. They’re in this for the long-game and deliver significant value post-STO. It’s early days in the industry, yet we’re already working on deal flow together. ”
While this partnership is a positive development, these companies are not the only ones making headway within their respective sector. In recent months we have seen the rapid development of various promising products. Some offer end-to-end solution, while others have opted to concentrate on services either pre or post STO. Here are a few of those looking to provide alternative solutions.