Dubai fintechs plan tokenised crowd funding platform

Two Dubai-based fintechs are collaborating on the development of a tokenised equity crowd-funding platform designed to bring innovation to the private equity market.

Toko FZE, one of the first firms to be awarded a full virtual asset service provider licence from Dubai’s Virtual Asset Regulatory Authority (VARA), has partnered with consultant Virtuzone for the project.

According to the pair, the platform is designed to bring blockchain technology to the private equity market.

More specifically, it will add transparency, accessibility and opportunity to the early-stage private equity fundraising process, claim Toko and Virtuzone.

“The VARA regulatory framework has been custom-designed for virtual asset transactions, providing a robust and clear route to market that is going to support the transformation of investments and facilitate financial inclusion,” said Scott Thiel, managing director of Toko.

©2023 funds global mena

Related Articles