Mubasher: Toko has partnered with Virtuzone to develop the first tokenised equity crowdfunding platform in Dubai, according to a recent press release.
By deploying blockchain technology, the collaboration with Virtuzone will transform early-stage private equity fundraising to enhance transparency and create opportunities for both investors and businesses seeking to raise funds.
Under the partnership, Toko and Virtuzone will provide access to a wider range of investors, enabling both institutional and individual investors to participate in a more accessible and transparent manner.
It is worth highlighting that Toko is one of the first companies in Dubai to secure a full-market Virtual Asset Service Provider licence from Dubai’s Virtual Asset Regulatory Authority (VARA).
Scott Thiel, Managing Director of Toko, commented: “The VARA regulatory framework has been custom-designed for virtual asset transactions, providing a robust and clear route to market that is going to support the transformation of investments and facilitate financial inclusion.”
The two entities will leverage VARA's regulatory framework to drive growth in the financial services sector. This is in addition to developing a platform for small and medium-sized enterprises (SMEs) that will allow them to engage in early equity fundraising with ease.
Neil Petch, Chairman and Co-Founder of Virtuzone, said: “Since our founding 14 years ago, our mission remains the same – to ease the way for entrepreneurs, start-ups, and SMEs and equip them with all the tools they need to succeed.”
“Our strategic collaboration with Toko also aligns with the UAE’s National Entrepreneurship Agenda, which aims to establish the UAE as home to 10 unicorn companies by 2031,” Petch added.