IOTA and Tokeny Join Forces To Integrate Tokenization Technology In IOTA EVM
In Brief
IOTA partnered with Tokeny to incorporate its enterprise-level tokenization and on-chain compliance technology into its EVM.
Distributed ledger platform IOTA unveiled its partnership with tokenization platform Tokeny aimed at incorporating enterprise-level tokenization and on-chain compliance technology into its Ethereum Virtual Machine (EVM). This collaboration will facilitate businesses to innovate securely and efficiently by utilizing blockchain.
Tokeny offers enterprise-grade tokenization solutions that enable financial entities to release, manage, and distribute real-world assets (RWA) and securities compliantly on blockchain platforms.
Through this collaboration, firms and builders wishing to tokenize their funds on IOTA EVM will have the option to execute transactions with automated compliance checks and full control over digital assets. The partnership is aimed at facilitating efficient management and transfer of digital securities and guaranteeing adherence to rigorous compliance standards.
IOTA EVM enables the deployment and management of smart contracts on the IOTA network. Tokeny integrates its compliance infrastructure for digital assets into the IOTA EVM. Using the ERC-3643 open-source suite of smart contracts, it facilitates the issuance, management, and transfer of permissioned tokens, incorporating automated on-chain compliance checks to restrict transactions to verified investors. Such capability is essential for upholding strict regulatory requirements and allows issuers to maintain control over their tokens, including the capability to freeze or recover them as needed.
IOTA: What Is it? Introducing EVM Network Focused On Decentralized Finance And Real-World Assets
It is a distributed ledger technology (DLT) that enables individuals to maintain sovereignty over their private data, execute tamper-proof programs, and participate in asset ownership and trading without intermediaries. DLTs operate by maintaining a synchronized record of token ownership across numerous nodes.
It introduced its EVM network last month, highlighting its specialization in decentralized finance (DeFi) applications and the utilization of RWAs. The network implements features encompassing smart contracts, cross-chain capabilities, parallel processing, and protection against Maximal Extractable Value (MEV) within the IOTA ecosystem, enhancing IOTA token foundational capabilities.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
