Only few months after the announcement of its partnership with Issuance, a deal marketing platform that connects digital securities issuers with prospective investors, Tokeny, the Luxembourg based fintech company, a compliant tokenization platform delivering institutional grade solutions in the issuance, lifecycle management, and secondary trading of tokens today, announced the launch of a new product, “investorID”.
(Featured Image: Tokeny’s team, and Pierre Gramega, Luxembourg Finance Minister, the first to create his identity using investorID product / Image Credit © Tokeny)
“By creating investorID, issuers can act in full confidence that their securities are being accessed and traded compliantly. There wasn’t a solution on the market that accurately identifies the different stakeholders on the blockchain infrastructure, but it is a mandatory piece in order to apply securities laws in Europe” declared Luc Falempin, Tokeny CEO.
According to the startup’s press release, this new product “investorID” is a market-driven decentralized application allowing investors to generate their on-chain identity to access and trade compliant tokenized securities.
“investorID relieves this worry and enables individuals and financial institutions to seamlessly create their on-chain and validated identity.”
The system aims to become the principal solution for investors to manage their own data and become identified on the blockchain infrastructure. investorID enables issuers to quickly understand whether or not their participants are eligible for the offering. Once this is validated, the jurisdiction’s rules and regulations can be automated.
Once investors create their identity, they can reuse and access multiple tokenized securities with increased ease, speed and cost efficiency. Personal data rules are respected as participants have complete control of their data and can give and restrict access accordingly.
“On the buy-side, it’s fundamental for investors to know they are respecting the necessary rules and regulations in relation to security trading. investorID relieves this worry and enables individuals and financial institutions to seamlessly create their on-chain and validated identity” concluded the CEO.