In a significant move towards the future of digital asset management, **IOTA** has joined forces with **Tokeny Solutions**, a premier provider of compliance infrastructure for digital assets. This collaboration is set to revolutionize enterprise-level tokenization and on-chain compliance within the IOTA EVM.
**Dominik Schiener**, the founder of IOTA, expressed that this partnership is in perfect harmony with their vision to make tokenized real-world assets (RWA) and financial tools widely accessible within their ecosystem.
As blockchain technology’s application in tokenization gains momentum, attracting corporate participants, the importance of compliance and security escalates. In response, IOTA’s alliance with Tokeny Solutions, a global leader in digital asset compliance, is designed to enhance enterprise tokenization and fortify the management of digital assets within the IOTA environment.
According to the Boston Consulting Group, the tokenization market could reach a staggering $68 billion by the decade’s end under optimistic projections. Major corporations, including the colossal $10 trillion **BlackRock** and the $1.5 trillion **Franklin Templeton**, are delving into this burgeoning field.
These entities are under stringent regulation and face the risk of incurring hefty fines if found non-compliant in areas such as anti-money laundering. For investors, compliance is equally crucial as it guarantees fairness, trust, and the integrity of the market.
To tackle these challenges, IOTA’s collaboration with Tokeny aims to refine the way enterprises utilize the IOTA EVM by incorporating Tokeny’s state-of-the-art compliance technology for top-tier tokenization.
Thrilling Announcement!
#IOTA has partnered with @TokenySolutions to bring enterprise-grade #tokenization and on-chain compliance to the IOTA EVM. This strategic enhancement enables businesses to innovate with security and efficiency at the forefront! Discover more:
[Link to the announcement]
On July 4, 2024, IOTA announced that its EVM chain, which debuted in Q2 of this year, as reported by Crypto News Flash, provides a seamless platform for the deployment and administration of smart contracts, gaining popularity among corporate users.
The integration of the EVM with Tokeny’s compliance infrastructure, which utilizes the ERC-3643 standard, facilitates the issuance, transfer, and governance of tokens. It ensures on-chain compliance, restricting access to verified investors only.
**IOTA EVM and Tokeny: Pioneering Compliance in Tokenization**
Both organizations’ leaders have acknowledged the strategic nature of this partnership, which reflects a shared commitment to their values and objectives.
Dominik Schiener of IOTA remarked on the integration with Tokeny:
“We’re ecstatic about the integration with Tokeny, which resonates with our goal to open up access to tokenized RWA and financial instruments in our ecosystem. Tokeny is recognized as the most sophisticated institutional-grade tokenization platform that adheres to the market standard ERC-3643, setting the stage for accelerated institutional tokenization on the IOTA EVM.”
Luc Falempin, CEO of Tokeny, echoed this sentiment, emphasizing the alignment with his company’s vision.
“IOTA’s distinctive Layer 1 protocol architecture facilitates scalability and zero-fee transactions. Our mission is to expedite tokenization, fostering adoption and catering to the dynamic market needs,” he stated.
Thanks to this partnership, corporate users can confidently engage in substantial token transactions via IOTA, free from legal concerns. The IOTA Foundation highlighted:
“For those looking to issue, transfer, or manage digital assets, our advanced IOTA EVM, reinforced with Tokeny’s technology, provides a solid foundation for your initiatives.”
Currently, IOTA is trading at $0.11483, experiencing a 3.37% decline over the past day amidst a broader market downturn, which has seen an overall market cap reduction of 2.50%.
Recommended for you:
– Guide to Buying IOTA
– Tutorial on IOTA Wallet
– Monitor MIOTA’s 24-hour Price
– Latest News on IOTA
– Understanding IOTA
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