Black Manta Capital and Tokeny joined forces for the development of a multi-securities token offering (STO) for the European market.
Announced on Wednesday, the STO platform will service both retail and professional clients and will list stocks from various sectors ranging from real estate projects to small and medium enterprises, and grown-up startups.
Under the partnership agreement, Tokeny will provide a white-label tokenization platform while Balck Manta will be responsible for ensuring compliance and investor protection as a regulated financial services institution within the European Union.
Tokeny’s T-REX token standard for tokenized securities allows compliant transferability along with features including identity management system, a set of validation certificates, and the transfer manager.
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Commenting on the development, Luc Falempin, chief executive of Tokeny, said: “Working with Black Manta Capital Partners allows the both of us to focus on what we do best. We provide the institutional grade tokenization solutions for every BMCP offering and this allows them to focus on what they do best, which is building their investor community.”
Earlier this year, Tokeny received $5.6 million in investment from Euronext.
A regulated platform for European investors
Operated by BMCP, Black Manta is regulated under German laws. The parent company received its license within the MiFID II regime by German financial regulator BaFin.
“Tokeny Solutions is one of the top global technology providers in tokenization,” Christian Platzer, Co-Founder of BMCP, added. “Having worked closely with the Tokeny Solutions team for several months, we can say: we speak the same language when it comes to the prospects for our industry and together we could not be more positive about the opportunities for security tokenization in Europe and around the world.”
Meanwhile, many established players including Coinbase are also planning to enter the STO industry while the sector has less competition, unlike crypto exchanges.