Toko FZE, a company under the global law firm DLA Piper, has announced a strategic partnership with Virtuzone to launch the first tokenised equity crowdfunding platform in Dubai. Toko has obtained a full market Virtual Asset Service Provider license from Dubai’s Virtual Asset Regulatory Authority (VARA), making it one of the first companies in Dubai to do so. Toko specializes in creating data-rich tokens that represent fractional interests in real-world assets.
The collaboration with Virtuzone aims to revolutionize early-stage private equity fundraising using blockchain technology. By leveraging blockchain, the platform will provide enhanced transparency, accessibility, and opportunities for both investors and businesses seeking to raise funds. Investors will gain greater insight, information, and access to private equities across various compelling businesses. This digital transformation also brings the expectation of greater liquidity to investors’ portfolios.
Scott Thiel, the Managing Director of Toko, expressed his excitement about the partnership, highlighting VARA’s regulatory framework designed specifically for virtual asset transactions. Thiel believes that the partnership with Virtuzone will allow them to improve the world by reshaping the virtual asset management landscape through technology, regulatory compliance, and a user-centric approach.
Through tokenizing early equity offerings, Toko and Virtuzone will enable a broader range of investors, including both institutional and individual investors, to participate in a more transparent and accessible manner. They aim to take full advantage of VARA’s regulatory framework to drive positive change in the financial services sector. The platform will specifically benefit SME-sized companies, empowering them to engage in early equity fundraising.
Neil Petch, the Chairman and Co-founder of Virtuzone, emphasized their mission to support entrepreneurs, startups, and SMEs by equipping them with the necessary tools for success. Petch shared his enthusiasm for the partnership with Toko under VARA’s regulatory framework, as it will introduce tokenised equity offerings and make Dubai an even more attractive destination for startups, entrepreneurs, angel investors, and venture capitalists. The collaboration aligns with the UAE’s National Entrepreneurship Agenda, which aims to establish the UAE as home to 10 unicorn companies by 2031.
This strategic partnership between Toko and Virtuzone signifies a significant advancement in the crowdfunding landscape in Dubai, leveraging blockchain technology to provide transparency, accessibility, and investment opportunities for businesses and investors alike.
I have over 10 years of experience in the field of cryptocurrency and blockchain technology. I have attended numerous conferences and events around the world, and my work has been featured in major publications such as CoinDesk, Bitcoin Magazine, and Yahoo Finance.
