Tokeny x Avalanche: A boost toward institutional asset tokenization
A major development comes from Avalanche and Tokeny, making institutions happy, for they will now have a tokenization solution that is seamless and secure. Per the announcement made by Tokeny, the leading tokenization platform has now integrated with one of the best smart contract platforms – Avalanche. The partnership between the two ventures makes it convenient for institutions to manage, issue, and transfer tokenized securities on the Avalanche blockchain.
The integration brings a lot for the ecosystem, not just in terms of tokenized securities but also in terms of managing assets in real time. It has the potential to improve efficiency, meet demands that are put forward by investors, and lower costs tremendously. Moreover, Tokeny and Avalanche will, together, connect tokenized assets to global trading venues to revolutionize the financial sphere and increase liquidity.
Every type of asset qualifies for compliant tokenization at a faster speed. Before Avalanche and Tokeny joined hands, several platforms ventured in this direction by often referring to tokenization as the next generation of securities. The same has been echoed by the Chief Executive Officer of BlackRock, Larry Fink.
Collective benefits of the partnership between Tokeny and Avalanche span over the core area of adapting to new operational models and developing new products, enabling institutions to focus on them instead of investing all the resources and a lot of time in developing a platform dedicatedly to tokenization.
Avalanche and Tokeny bring individual benefits as well. For instance, Tokeny contributes with a tokenized solution that is powerful and streamlines in every possible manner, while Avalanche extends blockchain offering that is reliable and cost-efficient. Institutions can, meanwhile, leverage ERC3643 to review compliance and control over the tokenized assets.
Luc Falempin from Tokeny has expressed excitement over the integration, saying that it will surely provide a fast and scalable tokenization solution to institutions that bring their assets on the blockchain of Avalanche. The Chief Executive Officer of Tokeny has further stated that institutions will be able to move their tokenized assets to a cost-efficient network and continue to have full ownership of the transaction records on the network for a future-proof solution.
Morgan Krupetsky from Ava Labs has issued a statement saying that the integration will enable institutions to add another avenue while in pursuit of asset tokenization strategies. The Director of Business Development for Institutions & Capital Markets at the said venture has called the integration a key advancement for Ava Labs, adding that it aligns with the mission to digitize and tokenize assets across the globe.
She has assured the integration with Tokeny will enable Avalanche to provide an environment to the ecosystem that is not only efficient but also faster.
Avalanche has a brand image that is known all over the world. A lot of it is supported by being the smart contract platform that is fast and reliable, backed by the consensus protocol and novel Subnets. Tokeny is a perfect fit for the integration since it provides a compliance infrastructure for digital assets.