– Bastiaan Don, Managing Director of Token Factory
This is possible because Token Factory transfers the ownership of the smart contracts and instructs the appropriate people on how to use the solution independently in the future. Additionally, Token Factory shares its existing blockchain know-how with its customers and is actively involved during the implementation. The solution can also be easily integrated into existing applications (like CRM) and processes (like Anti Money Laundering / Know Your Client (AML/KYC).
The technology provider’s solution
The security token is linked to an on-chain whitelist: this means that only compliant transactions can be processed. Only investors who have identified themselves via AML/KYC will be able to invest, hold or trade in the corresponding security token. The solution built on the Ethereum blockchain will serve as a basis for rule enforcement and secure documentation of ownership rights. The whitelist is, in this case, controlled by Bank Frick, which guides the investors through the onboarding process and includes them in the whitelist if all information is complete and the source of funds is sufficiently plausible. The same subsequently applies to the token minting process.
“As the preferred point of contact for Blockchain Banking, we were again able to demonstrate the possibilities of Blockchain technology with the tokenization of a regulated investment fund. The issuance of digital, Blockchain-based fund shares leads to greater efficiency and a higher degree of automation in the transmission process. While evaluating possible technology partners, we were impressed by Token Factory’s team, their track record and their far-sighted and understandable tokenization solution.We are pleased to take this step to further strengthen our service offering in the issuing business and are confident that we have set an important milestone for future developments.”
– Raphael Haldner, Head Fund and Capital Markets of Bank Frick
