On June 6, 2023, Defactor Labs, a decentralised finance (DeFi) based platform, stated that it has tokenized Alpha Bonds of $100 million value through ERC-3643 tokens, as stated by Cointelegraph.
According to Cointelegraph, the Polygon-backed tokenized bonds will be made available for small and medium-sized enterprises through real-world assets. Reportedly, Defactor Labs collaborated with CMS, a law firm, to provide legal advice and documentation, along with selecting Luxembourg for the protocol’s governing jurisdiction.
Based on Cointelegraph’s information, more than $30 million valued Alpha Labs has been conducted at the pilot phase, with two million dollars being transferred into project financing, as stated by Defactor Labs developers. “By leveraging the ERC3643 standard to tokenise $100 million worth of bonds, Defactor Labs aims to not only allow institutional investors to compliantly access DeFi, but also provide them with liquidity options in an open network,” Alejandro Gutierrez, co-founder and CEO, Defactor Labs, said.
Moreover, Cointelegraph noted that in previous developments, FACTR, Defactor Labs’ native token, sustained a 550% increase post Huawei, a Chinese telecommunications company, promoted the project using its social media handles.
(With insights from Cointelegraph)
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