Bakari and tokeny Solutions launch Flyt Token in South Africa for Hospitality investments

Bakari is supporting the launch of the Flyt token, which allows investors to subscribe for, transfer and redeem shares in the FLyt Hospitality fund an existing South African fund investing in Apart-Hotels in Cape Town. 

Due to the analogue and cumbersome infrastructure used today in private markets, investors have to pay high brokerage fees to buy and sell their investments. Through the Flyt token, investors can manage their assets through a trusted and resilient infrastructure. Investors gain full control over their assets and establish a direct relationship with the issuer, removing manual processes and fees incurred by brokers. The issuance of the Flyt token by a regulated Financial services provider paves the way for the compliant use of blockchain technology in the Emerging Markets’ Financial Sector

"The issuance of the Flyt token by a regulated Financial services provider paves the way for the compliant use of blockchain technology in the Emerging Markets’ Financial Sector , "states Daniel Kimber Co-Founder of Bakari,