NewsTOKO Collaborates with Algorand Foundation to Enhance its Enterprise-grade Digital Asset Offering

TOKO Collaborates with Algorand Foundation to Enhance its Enterprise-grade Digital Asset Offering


Algorand Foundation

Hongkong, September 29th, 2021 - We are delighted to announce that TOKO, a unique digital asset creation platform has collaborated with the Algorand Foundation to leverage the Algorand protocol in order to enhance its digital asset offering.

TOKO falls under global law firm DLA Piper’s Law & brand which delivers innovative solutions beyond traditional legal services to help businesses succeed. As the digital assets creation ecosystem matures, TOKO is set to be a key part of the landscape. TOKO in collaboration with DLA Piper provides clients with a secure and cost effective solution for buying and selling high value assets using blockchain technology. The platform provides smart contract functionality, improves asset liquidity, and allows the creation of unique product structures.

TOKO aims to fundamentally change the way financial systems operate by supporting inclusiveness, and creating the ability for asset owners to develop new products and engage with different types of investor classes. In order to meet client demand, TOKO has been seeking additional enterprise-ready blockchains on which to deploy digital assets. As a Layer-1 Pure Proof-of-Stake blockchain, Algorand has the capacity to execute thousands of transactions per second, making it faster, more scalable and more secure than first-generation distributed ledgers, and as such has a rapidly growing number of use cases, being the technology of choice for more than 700 global organizations.

The cooperation will kick start with an ASA  (Algorand Standard Asset)  integration, through which TOKO will be able to leverage Algorand’s global exchange network and thus have the integration capability to meet the demands of clients in multiple jurisdictions. Moving forward, TOKO will further explore the business opportunities within the Algorand ecosystem that fit with NFT and SESG use cases.

“We are excited to be working with TOKO.” said Sean Lee, CEO at the Algorand Foundation. “With an increasing number of assets being launched on Algorand every day, ASAs have been proven to be incredibly fast, secure, low cost, easy and simple for issuance with universal interoperability. With the combined legal capabilities of DLA Piper, we look forward to supporting the TOKO platform and expanding the ecosystem together.”

On August 30th, Algorand Foundation CEO Sean Lee signed the agreement with Scott Thiel, Lead Partner for TOKO.

Scott Thiel, Technology Partner at DLA Piper and the lead lawyer for TOKO, commented: “Collaborating with Algorand Foundation is a natural step for us. TOKO is a global solution and we work on complex projects with clients in jurisdictions all around the world. The technological advantages and integration with next generation DLT technologies such as the Algorand protocol are critical in enabling us to provide a range of solutions to cater to the different needs of our clients. What’s more, DLA Piper and the Algorand Foundation share a common value in the respect that both of our organisations are fully committed to transitioning to sustainability. I think we are going to be seeing a lot more ESG focused projects and to be able to combine the firm’s expertise in this area with traditional legal knowledge to tokenize sustainable assets is really exciting.”

“When looking to expand TOKO’s ecosystem, Algorand provided the right fit as a value creation partner. Adding the Algorand network not only complements TOKO’s vision to be an omni-chain issuer, but also brings access to new global infrastructure partners representing a diverse offering of asset classes. We are excited to bring TOKO and the Algorand Foundation together to explore innovative projects that support a trusted marketplace for digital assets,” said Kenneth Jee, Director of Business Development at BCW Group, which acts as the advisory partner for TOKO to shape the go-to-market strategy and form regtech infrastructure partnerships.

Watch the "Fireside Chat with Sean Lee and Scott Thiel" here.

Algorand Foundation is excited to welcome TOKO to the Algorand ecosystem .

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