Tokenization Platform Tokeny Solutions Partners with Polygon to Further Streamline Security Tokens

Tokeny Solutions, a tech platform for issuers to tokenize assets, has partnered with Polygon to further streamline the process of tokenizing compliant securities.

According to a note from the company, the partnership will allow asset issuers to create security tokens in a cost-effective and scalable way. Tokeny Solutions provides technology for securities issuers to tokenize their assets and Polygon is a layer 2 protocol building and connecting Ethereum-compatible blockchain networks.

Tokeny explains that Ethereum’s smart contract deployment and transaction fees have always been difficult for financial institutions to comprehend. These fees have varied greatly over time, depending on the actions performed and the price of the cryptocurrency (ETH). With the delay of Ethereum 2, the cost has moved higher, closing the door to many projects that wanted to target a large audience of investors or issuers that foresaw many transactions or transfers between token holders.

The combination of Tokeny Solutions and Polygon expects to enable asset issuers to reduce gas prices by over 10000 times. Gas fees are said to become so low that they no longer undermine the adoption of security tokens. Transaction speeds are said to be dramatically improved to under three seconds.

Luc Falempin, CEO of Tokeny Solutions, says that Polygon’s layer 2 solution brings efficiency while T-REX protocol enforces the compliance for security token ownership. Issuers can migrate operations onto Ethereum and offer a secondary market at a lower cost.

Arjun Kalsy, VP Growth at Polygon, says:

“Tokeny’s T-REX solution has been a game changer for firms looking to issue security tokens. Polygon’s high performance and low cost infrastructure will bring a new level of scalability to the existing tech stack and give issuers access to the Ethereum ecosystem at a fraction of the cost. This will allow Tokeny’s customers to offer new solutions and build projects which were previously not possible. We are excited to partner with Tokeny and contribute to their growing presence in the blockchain space.”

Tokeny Solutions has released the details of the first compliant liquidity solution for security tokens in Europe, T-REX Billboard. This enables investors to participate in a secondary market for private securities. By incorporating Polygon, investors can now transfer with one another at a significantly reduced cost.

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