Digital Securities
Tokeny releases TREX – The first public framework for Security Token Offerings
Announcement
In an announcement released earlier today, Tokeny has detailed their project, called Token for Regulated Exchanges – or ‘T-REX’ for short. This moniker refers to what they call a ‘decentralized set of global tools, based on the Ethereum blockchain, to allow for the interoperable, frictionless and compliant transfer of tokenized securities’.
In other words, they have made a set of rules which they are hoping participants within the industry follow. In doing so, everyone’s lives will be easier, as everyone will be on a level playing field.
Tokeny CEO, Luc Falempin, commented on the release of the T-REX framework. He stated, “By creating the T-REX standard, we are enabling the issuance of compliant STOs. There are three key pillars to these tokens, the identity management system, a set of validation certificates and the transfer manager. These three components essentially allow our clients to use a decentralized validator to control transfers and ensure investors meet the obligations in each jurisdiction the tokens are distributed in.”
T-REX
The T-REX framework identifies various key areas throughout the token issuance process. In doing so, it works to ensure interoperability through standardization.
- Identity management system
- Validation certificates
- Transfer management
By providing framework for these areas, those that adhere to the standards can expect high levels of security and efficiency. Both of which, are highly sought after benefits in the world of blockchain.
To learn more about the fine details of the framework, make sure to read the whitepaper HERE.
Competition
While multiple frameworks have been announced in recent weeks, this is the first that has been made available to the public. For instance, most announcements to date have simply been the announcement of intentions to create frameworks, or they have simply been closed-source projects. Rather, those at Tokeny have decided to take a different path, and do things their own way.
Tokeny
Tokeny is a fintech company, founded in 2017, and is based out of Luxembourg. Their primary goal is to develop and offer a comprehensive platform to assist those looking into tokenization.
Luc Falempin commented on the state of blockchain, and what they are doing to develop their platform. He stated, “Everyone is aware of the problems that have surrounded blockchain technology. But the fact still remains, blockchain remains one of the most significant technological advancements in recent history. By recognizing that there are problems and coming up with a set of solutions that address those pain points we are helping form this ecosystem and driving mass adoption across capital markets.”
As a result of words like these, it should come as no surprise that this is not the first time we’ve detailed Tokeny on Securities.io. In recent weeks we have touched on news regarding various partnerships with companies such as BlockTrade, and the Security Token Network.
