Defactor Labs Launches $100 Million Tokenization Initiative for Alpha Bonds on Polygon Network
Trailblazing DeFi Platform Aims to Revolutionize Small Business Financing with Real-World Asset Collateralization and ERC-3643 Token Standard
Thu, 08 Jun 2023, 11:15 am UTC
Defactor Labs, a pioneering platform in the decentralized finance (DeFi) sphere, has announced an initiative to tokenize $100 million worth of Alpha Bonds. The ambitious project utilizes the advanced ERC-3643 token standard and operates on the Polygon (MATIC) network. Small- to medium-sized businesses are set to benefit, as these tokenized bonds will be loaned using real-world assets, including receivables, as collateral.
This innovative undertaking is a collaboration between Defactor Labs and the reputable law firm CMS, with the latter overseeing the necessary legal guidelines and paperwork. Luxembourg, a global financial hub, has been selected as the legal authority presiding over the operation. Adding another layer of credibility, Black Manta Capital Partners has brought their broker-dealer license to the table. Their marketplace, powered by Tokeny's ERC-3643 tokenization engine, facilitates transactions for the Alpha Bonds.
The ERC-3643 token standard, developed by a team of innovators in 2021, has set a benchmark for identity validation, data storage, and regulation-compliant token transactions on authorized exchanges. According to data provided by Tokeny, the ERC-3643 standard has enabled the tokenization of more than $28 billion in instruments across 180 jurisdictions.
As a testament to the platform's potential, the creators at Defactor Labs reveal that Alpha Bonds valued at over $30 million have been successfully transacted during preliminary testing, including $2 million allocated to project financing. On February 21, it was reported that Defactor Labs' own token, FACTR, had surged by a remarkable 550% shortly after Chinese tech giant Huawei promoted the project on its digital platforms.
In a concise video message, spokesperson Gutierrez explained the platform's mission - to merge conventional financial mechanisms with DeFi while exploring the tokenization of tangible assets and fostering partnerships with both emerging and established corporations. Defactor Labs is a member of Huawei's International Scale-Up Program, headquartered in Ireland, highlighting its global aspirations.
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