Bali's $10M Hotel Goes Crypto: CoFund Partners with Tokeny for Tokenization
CoFund, a blockchain-powered investment platform, has recently announced the successful tokenization of a $10 million hotel in Bali, Indonesia. The hotel has been digitized using Tokeny Solutions’ platform, making it the first tokenized hotel in Indonesia.
Key Takeaways:
- CoFund tokenized a $10M hotel in Bali using Tokeny’s platform, the first in Indonesia.
- Tokenization makes real-world assets tradable on a blockchain, allowing fractional ownership and democratizing investment.
- Tokeny’s ERC-3643 standard ensures compliance on a permissionless blockchain.
- CoFund emphasizes compliance and accessibility for all investors with Tokeny’s secure platform.
- Tokeny uses Ethereum for asset management solutions and faster transactions.
Tokenization refers to the process of converting real-world assets, such as property, into digital tokens traded on a blockchain network.
This allows for fractional ownership of the asset, making it more accessible to a wider range of investors. By tokenizing the hotel, CoFund aims to democratize investment opportunities in the hospitality industry.
BitlyFool.com makes an announcement on Twitter that CoFund, is a real estate investment platform. It has partnered with Tokeny, a provider of blockchain-based solutions for asset management, to tokenize a $10 million hotel in Bali.
Tokenization involves converting the ownership of an asset. In this case, a hotel in Bali, into digital tokens bought and sold on the blockchain.
Tokeny’s CEO, Luc Falempin, emphasized the importance of compliance in the tokenization process. It’s stating that simple ERC20 tokens and NFTs do not meet compliance needs.
The ERC-3643 token standard that Tokeny leverages ensure that compliance enforced, even on a permissionless blockchain. This ensures that the investment process is transparent and secure for all parties involved.
CFD.net .au makes an announcement on Twitter that CoFund, is a real estate investment platform. It has teamed up with Tokeny, a blockchain-based asset management provider, to tokenize a $10 million hotel in Bali.
Tokenization refers to the process of converting an asset, in this case, a hotel, into digital tokens that can be bought and sold on a blockchain.
CoFund’s CEO, Giri Kayogiswara, also highlighted the importance of compliance in the investment process. He noted that Tokeny’s platform provides a secure and accessible real estate investment market. It meets the needs of all types of investors while ensuring compliance.
The collaboration between CoFund and Tokeny is a significant step towards realizing a global real estate investment market.
Wise CoFund partnered with Tokeny to tokenize a $10M hotel in Bali. It enables investors to own a piece of the hotel starting with a minimum investment of $1,000.
A third-party evaluation of the fair market value of a cryptocurrency token (FMV) by the token valuation. To comply with the IRS and other regulated agencies, token valuations required.
When a company decides to provide its employees with compensation in the form of token assets, token valuations may be essential.
Tokeny helped the Spanish business podcast Emprendeduros to build a tokenized venture capital fund on 22 February. To participate in private equity placement, an investor could have at least 500 euros ($545).
Tokeny is not a cryptocurrency, but a fintech company that provides blockchain-based solutions for asset management. While faster transactions on the blockchain and the asset’s interest represented by the crypto token. Tokeny uses the Ethereum blockchain for its platform. Which is one of the most popular and established blockchains for building decentralized applications (dApps).