The blockchain and security token firm based in Singapore, Blockchain App Factory, announced that it is working with three clients tokenizing their assets. The firm announced that these projects are managing around $225 million dollars in assets.
Apparently, the intention is to help these clients to operate in the real estate market and tokenize their assets to raise funds. This process is known as Security Token Offering (STO). Some time ago, the Blockchain App Factory launched its new asset tokenization platform. In this way, the company is able to digitize different assets on the blockchain.
Before working with its own blockchain platform to launch STOs, the Blockchain App helped clients to develop their own smart contracts, Initial Coin Offerings (ICOs) and Hyperledger-powered solutions. Indeed, the company was able to help over 30 different firms to launch their own ICOs.
Blockchain App Factory co-founder and Sales Director, Ramkumar Subramaniam, commented on the matter:
“STOs’ key focus is on the regulations’ sphere, albeit, technology will also follow suit to help the industry thrive: Our team of developers with adept technical know-how has developed tokens that are regulatory compliant, across jurisdictions.”
The blockchain space is also changing. After a bear market that affected the whole virtual currency industry, investors are showing less interest in investing in Initial Coin Offerings. Now, they are moving to security tokens, which are regulated and backed by real.world assets. Using blockchain tokens it is also possible to ensure faster transactions, increased transparency and lower costs.
At the same time, Subramaniam showed support for the popular Stellar network and the IBM-backed Hyperledger. For him, the standardization in token protocols is needed and he says that it must be performed and carried out using blockchain networks such as Hyperledger and Stellar.