Tokeny, a top digital asset enabler based in Europe, has received a strategic investment from Apex Group. The terms of the deal were not revealed, with Apex being labeled the “strategic lead” in the round, which did not mention other investors.
Tokeny provides a compliant structure to create and manage digital securities. Focusing first on private markets, Tokeny leverages blockchain technology to streamline the process of issuing and managing digital assets.
According to the company statement, the investment is described as a “significant move” that solidifies Apex’s commitment to digital assets with Apex leading the “digital transformation and drive positive change in the financial services space.”
Emphasis is placed on the ability for the partners to provide global, cross-jurisdictional services.
Established in Bermuda in 2003, Apex currently reports over 12,000 employees with 112 offices around the world. Apex serves asset managers, capital markets, corporates and family offices. Apex also provides services like digital onboarding, bank accounts, depositary, custody and more.
Tokeny, which already boasts some big-name investors, reports that it has tokenized €28 billion in assets to date. Tokeny created the ERC3643 standard for digital assets.
Just about everyone expects all securities to become digital securities and Tokeny is one of a handful of firms around the world that has garnered traction. While this expectation is widely shared, markets have been slow to adopt digital securities due to intrinsic inertia and the lack of solid support from traditional financial services firms. With Apex’s assistance, Tokeny will be able to further its ambition to digitize institutional participation in capital markets. The two sides claim their collaboration will “catalyze the widespread adoption of tokenization.”
Peter Hughes, founder and CEO of Apex Group, said the investment is more than a financial commitment but is emblematic of their belief in the power of leveraging technology to improve financial markets.
“The partnership with Apex Group marks a significant milestone for Tokeny,” said Luc Falempin, CEO Tokeny. “In the last six years, we’ve meticulously developed a complete suite of solutions and a comprehensive ecosystem to support institutions on their tokenization journey. The market is in dire need of influential institutional players like Apex to drive and expedite the industry’s advancement. We’re exhilarated to be integrated into Apex’s strategic vision, joining forces to turn the blueprint of a digitized financial future into reality.”
