Monaco Selects Fintech Firm Tokeny Solutions as its Tokenization Platform

The government of Monaco has formalized a Memorandum of Understanding with Tokeny Solutions as its technology provider to support the issuance of tokenized financial instruments, the firm revealed today.

Tokeny announced that is currently setting up a subsidiary in Monaco. It said the the company’s range of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-based solutions will allow the Principality to apply control and compliance to the Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term blockchain. The initiative will support Monaco with its upcoming regulatory framework to become the world’s first state utilizing the benefits of decentralized finance (DeFi).

Monaco’s aim is to become a Funding Nation for progress, a global market where quality projects are developed and financed. To qualify, the projects will require a mandatory label issued by the Ministry of State.

Luc Falempi, CEO of Tokeny Solutions, stated that the lack of high quality tokenized assets has been a stumbling block in the tokenization industry. With the mandatory label, projects selected by the Principilaty of Monaco will be easily recognized by investors as serious and quality investment opportunities, according to Falempi.

“Then, the rights of investors will be guaranteed by their onchain identity, For the issuer, AML and KYC will be automatically enforced in any transfer”, he added.

Euronext: strategic investor

“As a strategic investor in Tokeny Solutions, we are pleased that the Principality of Monaco has appointed the company as the tokenization platform of government-approved innovative projects. We are in particular proud that this project embeds clear ESG components and enables sustainable finance. This demonstrates the credibility of Tokeny Solutions’ team and technology. We look forward to seeing the success of sustainable projects endorsed by the Principality of Monaco and structured through the expertise and platform of Tokeny Solutions”, said Pierre-Edouard Borderie, representative of Euronext N.V. on the board of directors of Tokeny Solutions.

The Principality of Monaco has passed a bill and a favorable regulatory framework to encourage projects from around the world to finance themselves through issuing tokenized securities. The framework will thus aim to protect investors and project owners through quality control of the issuing companies and of the investors. The complete regulatory framework is expected to come into force shortly.

“Monaco is moving towards its ambition to become a funding nation for progress with our STO framework. Two key milestone were achived; a dedicated STO law was voted by the National Council and we are welcoming Tokeny to the Principality to operate our STOs,” said Frederic Genta, delegate for digital of affairs of the Principality of Monaco