Virtuzone and TOKO Network are set to roll out the first ever tokenized crowdfunding platform leveraging Web3 technology in Dubai.
In Brief
The TOKO Network has been granted an operating license by Dubai’s Virtual Assets Regulatory Authority (VARA), reinforcing its commitment to transparency and compliance with regulations.
Dubai’ Dubai's financial environment stands at the edge of a transformative shift as the collaboration unfolds. TOKO This partnership brings together a leader in FinTech innovation and a distinguished authority in corporate services, with the primary goal of establishing Dubai's first-ever tokenized equity crowdfunding platform. Virtuzone By harnessing blockchain technology, this partnership is set to revolutionize the way private equity is raised at the early stages, promoting transparency, wider access, and greater financial inclusion in Dubai.
Having achieved a comprehensive Virtual Asset Service Provider license from Dubai’s VARA, TOKO stands among the few companies to secure such an approval in the region. It utilizes a sophisticated token-generation engine that links fractional ownership to real-world assets.
TOKO’s Tech-Forward Credentials
Scott Thiel, the Managing Director of TOKO, stated that the tailor-made VARA regulatory framework aligns perfectly with the platform's aspirations to revolutionize investment practices. He stressed TOKO's dedication to promoting user-centered financial inclusivity and ensuring compliance with regulations. With the operating license granted by Dubai’s VARA, the platform’s dedication to accountability, transparency, and regulatory compliance is firmly established. The Collaboration Between TOKO Network and Virtuzone
The initiative by Virtuzone in partnership with TOKO aspires to transform the landscape of early-stage private equity fundraising, providing significant advantages to both capital-seeking businesses and prospective investors. The platform will facilitate deeper insights into investment opportunities, offering a more transparent environment for stakeholders. Neil Petch, Co-founder and Chairman of Virtuzone, remarked that this collaboration is in line with the UAE's National Entrepreneurship Agenda and aims to establish the UAE as a nurturing ground for ten unicorns by 2031, enhancing Dubai's attractiveness to startups and venture capitalists.
1/ 🇦🇪 @TOKO_network Global Outcomes of the Partnership #tokenization The alliance between TOKO Network and Virtuzone is set to democratize investment opportunities, opening doors for both individual investors and institutions. Through the tokenization of initial equity offerings, a broader pool of investors will be able to engage in fundraising endeavors, enriching the entire investment ecosystem. #Hedera https://t.co/2QasVFLAMe
— Hedera (@hedera) September 11, 2023
This strategic partnership particularly benefits small and medium-sized enterprises (SMEs), creating a user-friendly platform for early-stage fundraising. The adherence to VARA’s regulatory framework will bolster trust among potential investors, ultimately stimulating financial activities within the sector.
Together, TOKO and Virtuzone are elevating Dubai's stature as a central hub for emerging and high-growth enterprises. Their partnership signifies a crucial step in Dubai's evolution into a global financial epicenter.
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Nik is a seasoned writer and analyst at Metaverse Post, renowned for providing insightful commentary on the ever-evolving technology landscape, with a special focus on AI/ML, XR, VR, on-chain analytics, and blockchain innovations. His articles engage a diverse readership, aiding them in navigating the fast-paced technological realm. With a Master’s degree in Economics and Management, Nik possesses a keen understanding of the intricacies in the business sector and its interplay with emerging technologies.
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