Virtuzone and TOKO Network Launch Dubai’s First Tokenized Web3 Crowdfunding Platform
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In Brief
TOKO Network has received an operating license from Dubai’s Virtual Assets Regulatory Authority (VARA), highlighting its focus on transparency and regulatory compliance.
Dubai’s financial landscape is poised for a transformative leap as TOKO, a leading innovator in the FinTech sector, partners with Virtuzone, a pioneer in business solutions and corporate services. The partnership between TOKO and Virtuzone seeks to launch Dubai’s inaugural tokenized equity crowdfunding platform.
Utilizing blockchain technology, the collaboration aims to transform the way early-stage private equity fundraising is conducted. This move sets the stage for unprecedented transparency, accessibility, and financial inclusion in Dubai’s bustling market.
TOKO’s Tech-Forward Credentials
Having secured a full market Virtual Asset Service Provider license from Dubai’s Virtual Asset Regulatory Authority (VARA), TOKO is one of the first companies to accomplish this feat in Dubai. It operates a generating data-rich tokens engine that represents fractional ownership in tangible assets.
Scott Thiel, Managing Director of TOKO, said that the custom-designed VARA regulatory framework supports the platform’s aim of transforming the investment sector. He emphasizes TOKO’s commitment to fostering financial inclusion, regulatory compliance, and user-centricity.
1/ 🇦🇪 @TOKO_network has secured operating license approval from Dubai’s Virtual Assets Regulatory Authority (VARA), emphasizing the #tokenization platform's firm commitment to operating with transparency, accountability, & regulatory compliance. #Hederahttps://t.co/2QasVFLAMe
— Hedera (@hedera) September 11, 2023
The Synergy of TOKO Network with Virtuzone
Virtuzone’s collaboration with TOKO aims to revamp early-stage private equity fundraising, thus benefitting both investors and businesses in need of capital. The platform will offer in-depth insights and robust transparency, giving investors a clearer view of their investment horizon.
Neil Petch, Chairman and Co-founder of Virtuzone, underlined that the partnership aligns with the UAE’s National Entrepreneurship Agenda. It also aims to position the UAE as a home for 10 unicorn companies by 2031, boosting Dubai’s allure for startups and venture capitalists alike.
Global Results of the Collaboration
TOKO Network – Virtuzone alliance will democratize investment by expanding opportunities for both institutional and individual investors. The tokenization of early equity offerings enables a wider range of investors to participate in the fundraising process, enriching the investor ecosystem.
This strategic partnership is particularly beneficial for SMEs, providing easy-to-navigate platform for early equity fundraising. The utilization of VARA’s regulatory framework will further instill confidence among potential investors, thereby stimulating financial activity in the sector.
TOKO and Virtuzone are fortifying Dubai’s reputation as a hub for early-stage and high-growth companies. The partnership between TOKO and Virtuzone marks a pivotal moment in Dubai’s journey towards becoming a global financial powerhouse.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
More articlesNik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
