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

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,

Bakari is a Swiss company focused on the creation of asset-backed tokenized securities. They have partnered with Tokeny Solutions to deliver the best-in-class tokenization technology. Tokeny Solutions is the leading issuance and management platform with over 35 issuers of securities. The Luxembourg-based FinTech has won accolades from the likes of KPMG, The FinTech50 and welcomed Euronext as their investor last summer. 

"The technology is there to issue compliant tokenized securities but the distribution side is still building. Marketplaces like Bakari, with high-quality projects and access to investors are fundamental for this industry to grow. We’re delighted to be working with them and like-minded firms.
 
The technology is there to issue compliant tokenized securities but the distribution side is still building. Marketplaces like Bakari, with high-quality projects and access to investors are fundamental for this industry to grow. We’re delighted to be working with them and like-minded firms said Luc Falempin CEO Tokeny Solutions 

Bakari has assisted the Flyt Hospitality Fund to offer the benefits of tokenized securities management in an emerging economy, which demonstrates the versatility and efficacy of the technology. Bakari plans on issuing European Securities in 2020 that will showcase the benefits of tokenization in store-of-value assets.

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