As per reports, on April 11, 2023, Tokeny, a tokenization infrastructure platform, announced its collaboration with CoFund, an Ethereum based real-estate tokenization company, stated Cointelegraph. It is expected that this partnership will allow CoFund to tokenize a $10 million hotel in the Indonesian island resort of Bali by buying the regulatory-compliant ERC-3643 security tokens on the Polygon network.
“Simple ERC-20 tokens and NFTs don’t meet compliance needs. Our technology platform leverages the ERC-3643 token standard to ensure our partners can enforce compliance, even on a permissionless blockchain,” Luc Falempin, CEO, Tokeny, added further.
As reported by Cointelegraph, “With Tokeny’s proven platform, we can create a secure and accessible real estate investment market that meets the needs of all types of investors while ensuring compliance. This collaboration takes us one step closer to realizing our vision of a global real estate investment market,” Giri Kayogiswara, CEO, CoFund, commented.
Sources revealed that Tokeny’s infrastructure might support the real-time exchange and transfer of tokens to the dealers, Cointelegraph concluded.
(With insights from Cointelegraph)