DLA Piper, an international law firm, has just launched its new tokenization platform called TOKO, with the main focus on high-value assets. The platform has already completed its first tokenization which is tokenizing the piece of fine art. The launch is made possible by collaborating with Aldersgate DLS and Hedera Hashgraph.
The platform can easily work along with any asset class. However, the major focus at present is on the high-value assets only that includes real estate and art. Also, it will cover all those markets that are having a better and clear regulatory framework like UK, Singapore, Canada, and a few others.
DLA Piper Believes TOKO Can Reduce the Risk of Fraud
It is revealed that the team is currently examining all the local regulatory restrictions to reach more and more of its clients. Moreover, it is looking through all the legal issues that are surrounded by the creation of the token. One of the spokespersons at DLA Piper has said that TOKO is going to play a major role in reducing the risk of fraud. As mentioned by the firm:
“Our clients understand the technology and smart contracts, and see the benefits tokenization can provide in terms of the trust and efficiency it can create in fractionalizing assets.”
BCW Group is assigned as a Program Manager by DLA Piper that will help them to ultimately shape the market strategy for the platform. Also, Luther Systems will perform tasks as the systems integrator for the platform.
Digital Asset Industry Became Crucial For Global Financial Market
Back in 2019, the firm has also launched its Blockchain and Digital Assets practice. The major purpose of launching this was to help the companies that are looking for blockchain adoption. However, Marina Troullinou, DLA Piper associate, has said that the digital asset industry is highly important for the global financial market at present.