Tokeny Partners With CoFund To Tokenize $10M Hotel In Bali

bali, water palace, vacations-2170900.jpg

Luxembourg-based tokenization infrastructure provider Tokeny has joined forces with Ethereum real-estate tokenization marketplace CoFund. The collaboration will enable CoFund to launch regulatory-compliant ERC-3643 security tokens on the Polygon network. The tokens will be used to tokenize a $10m hotel in the Indonesian island resort of Bali, allowing investors to own a piece of the property with a minimum investment of $1,000.

CEO of Tokeny, Luc Falempin, stated: “ERC-20 tokens and NFTs generally don’t meet compliance needs. Therefore, our technology platform leverages the ERC-3643 token standard to make sure our partners can enforce compliance, even on a permissionless blockchain.”

Adding to this, the CEO of CoFund, Giri Kayogiswara, said, “With Tokeny’s proven platform, we can create a safe and accessible real estate investment market that meets the needs of all major types of investors while ensuring compliance. This partnership takes us a step closer to realizing our vision of a worlwide real estate investment market.”

Tokeny’s infrastructure offers issuers access to completely auditable and immutable capitalization tables of securitized tokens directly on the blockchain. Additionally, it enables real-time distribution and transfer of tokens to investors. This is not the first time that Tokeny has facilitated a tokenization project. On February 22, the company launched a tokenized venture capital fund for the Spanish business podcast Emprendeduros. In January, Tokeny received a $5.45m investment led by Inveniam, Apex, and K20 Fund. With this latest partnership, Tokeny continues to establish itself as a key player in the tokenization industry.

Enjoy reading? Share with your friends
Scroll to Top