Enegra Group, a Malaysia-based commodities trading business, has moved its equity connected EGX security tokens from Ethereum (ETH) to the Polygon( MATIC). Energra has actually tokenized 100% its equity in 2019, enabling investors to digitally work out ballot, governance and dividend rights. Tokeny, a company of compliance facilities and possession tokenization, was important in both the tokenization and migration.
Matthew Averay, Enegras handling director and CEO, stated:
To increase liquidity, we tokenized our equity. We wanted to make it simpler for our financiers to use the technology that permits quicker, more affordable, and more compliant deals on the Blockchain. We are extremely happy with the outcomes of the Polygon and Tokeny facilities.
Sandeep Nailwal (co-founder of Polygon) commented:
Tokeny is a software company that enables organizations to quickly release or convert their assets to Polygon. Organizations can rapidly convert or deploy their possessions to Polygon by leveraging our facilities, such as Tokeny.
Enegra Group, a Malaysia-based commodities trading company, has moved its equity connected EGX security tokens from Ethereum (ETH) to the Polygon( MATIC). We are very delighted with the outcomes of the Polygon and Tokeny facilities.
Tokeny is a software application provider that allows services to rapidly deploy or convert their properties to Polygon. Our company believe the tokenization of real-world assets, financial securities, and other possessions is the next huge thing in DeFi. Businesses can quickly transform or release their properties to Polygon by leveraging our infrastructure, such as Tokeny. 1/2 @enegragroup is entering #Polygon thanks to @TokenySolutions Enegra was one of the first regulated business on the planet to release digital security tokens that are equity-backed under the security token code EGX. Learn More: https://t.co/gVegl4QDsH pic.twitter.com/jUN5g7IgSp
— Polygon|$MATIC (@ 0xPolygon) November 5, 2021
Finally, Luc Falempin (CEO at Tokeny Solutions) included the following declaration.
Polygon is a procedure that permits for the development and scaling of facilities on Ethereum. PolygonScan approximates that the network processes more than 3 million deals per hour and has around 105,000,000 unique wallet addresses. Due to the high Ethereum network gas costs, which currently hover at $153 per smartcontract execution, altcoin blockchains that have low transaction expenses are gaining appeal.
Token issuers no longer require to worry about being completely obstructed from a blockchain. We now have the tools and processes to assist in smooth migrations between networks without losing any history.