Cynopsis and Tokeny Solutions have entered into a partnership to enhance compliance offerings to their clients.
Announced on Thursday, the partnership between the companies will ensure smooth investor onboarding and ongoing know-your-customer (KYC) and anti-money laundering (AML) on the services of two companies – Tokeny Solutions’ services and Cynopsis’ Triple A products – Ares, Artemis, and Athena.
Commenting on the partnership, Avere Hill, co-founder and chief executive EMEA at Cynopsis Solutions, said: “We are very excited to be working with Tokeny Solutions, a leading tokenization platform. We truly believe our mutual clients will benefit from this partnership as our models align beautifully with a focus on allowing companies to dematerialize assets on the blockchain, through the use of technology, while enforcing ever increasing compliance obligations.”
Tokenizing the financial offerings
Established in 2017, Tokeny offers tokenization technology to its clients. According to the announcement, the company had worked with 35 partners ranging from the estate to funds and debt to equity.
It also received €5 million (around $5.6 million) from Euronext.
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Cynopsis’ products, on the other hand, try to fill the compliance gap on the platforms with the KYC & AML process from pre-transaction customer onboarding to post-transaction monitoring.
“Combined with Tokeny Solutions’ services, ONBOARD, T-REX and ONCHAINID, the universal identity system, issuers are able to issue digital assets compliantly and securely,” the press release explained.
“For companies that are looking to benefit from utilizing blockchain technology they need to have the correct partners in place to ensure they are adhering to the rules and regulations that govern capital markets,” Luc Falempin, CEO of Tokeny added. “By integrating Cynopsis’ KYC & AML solutions with ours, we deliver benefits such as automation and digitization whilst incorporating a complaint-by-design approach.”
Last year, Tokeny partnered with Black Manta Capital for the development of a multi-securities token offering (STO) for the European market, Finance Magnates reported.