TOKO Bolsters Dubai Digital Asset Marketplace with New Licence … – The Fintech Times

Globally, the digital asset market has hit some bumps as regulators battle with exchanges to establish adequate regulations. However in some countries, this is not the case. The UAE is a prime example. In receiving regulatory approval from the Virtual Asset Regulatory Authority (VARA), TOKO shows its commitment to operating with transparency, accountability and regulatory compliance.
The platform, born out of the multinational law firm DLA Piper, is one of the first in the region to receive approval from VARA, and by partnering with Virtuzone, investors and businesses seeking funds will be able to confidently use blockchain technology to both access and provide greater insights and information. In turn, the adoption of this digital transformation is expected to generate greater liquidity.
By tokenising early equity offerings, TOKO and Virtuzone will open up access to a broader range of investors, allowing both institutional and individual investors to participate in a more accessible and transparent manner.
Scott Thiel, managing director of TOKO says: “At TOKO, we believe in improving the world and reshaping the virtual asset management landscape through cutting-edge technology, regulatory compliance, and a user-centric approach, and this partnership with Virtuzone provides a wonderful platform to achieve this”.
The VARA’s approval of TOKO means the digital asset creation platform can accelerate its efforts in improving financial inclusion. It creates tokens that align to a wide variety of underlying assets such as real estate, funds, shares, digital art, and IP rights. It can deploy these on multiple public blockchains. All the while, it maintains privacy and confidentiality by only making this information available to permissioned users.
Thiel expressed his enthusiasm for the company follow the approval stating: “TOKO applauds Dubai’s commitment to leading the world in virtual asset regulation. It does this by providing a responsible, comprehensive and clear roadmap for the virtual asset industry. All via a trusted and regulated ecosystem for individuals and businesses to engage with digital assets.  We look forward to playing a supporting role in the development of Dubai as a leading global virtual asset hub.”
By obtaining the VARA licence, TOKO gains the authority to operate in and from Dubai as a virtual asset broker-dealer. It can create secure digital asset tokenisation and trace-able transactions recorded on the blockchain across the life-cycle.  This licence not only reinforces TOKO’s credibility as a trusted tokenisation provider but also provides users with the confidence to explore the potential of decentralised finance within a trusted and regulated environment.
Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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