Tokeny, a Luxembourg-based fintech company has announced the launch of its new blockchain standard T-REX (Token for Regulated EXchanges), which they created to enforce the compliant issuance and transfer of securities on its platform.
Over the last few months, a new type of financial offering has emerged, in the form of Security Token Offerings (STOs). STOs offer multiple benefits over traditional financing methods. It offers an opportunity to automate existing processes, reduce operational costs, increase liquidity and enable a greater transfer speed of ownership.
The T-REX standard consists of decentralized set of global tools, based on the Ethereum blockchain in order to allow for the interoperable, frictionless and compliant transfer of tokenized securities. The newly launched standard is designed to effectively process KYC, AML checks and manage the investor after the issuance, T-REX is delivering a solution in an industry that is surrounded by fraudulent activity.
Comments from Tokeny –
Tokeny CEO Luc Falempin commented “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 issuers to use a decentralized validator to control transfers and ensure investors meet the obligations in each jurisdiction the tokens are distributed in.”
“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.” Falempin added.
Tokeny aims for a decentralized future and by By publicly sharing the T-REX documents, Tokeny is contributing to the tokenized securities ecosystem and building a community that contributes to the continuous development of tools on the blockchain.
To access the T_REX source files, you can use the links given below: