Enegra is migrating its tokenized shares from Ethereum to the Polygon blockchain

Enegra Group, a Malaysia-based commodities trading company with a net asset value of $ 28 billion; has migrated its share-linked EGX security tokens from Ethereum (ETH) to the Blockchain Polygon (MATIC). In 2019, Energra tokenized 100% of its equity so that shareholders can exercise their dividend, voting and governance rights digitally. Both initial tokenization and token migration have been made easier with Tokeny. a provider of asset compliance and tokenization infrastructure.

Matthew Averay, Enegra CEO and CEO said:

“We tokenized our equity to improve liquidity. And with the technology now available for faster, cheaper, and more compliant transactions on the blockchain, we wanted our investors to benefit from it. The polygon and tokeny infrastructure we needed to do this, and we’re very happy with the results. “

For his part, Sandeep nail wall, Co-founder of Polygon, commented:

“The tokenization of real world assets and financials is likely the next big wave in DeFi, and we are excited that our partner Tokeny is bringing quality and compliant assets to the Polygon network. By using our infrastructure with a suitable software provider such as Tokeny, you can quickly deploy your assets or convert them to polygons. “

Enegra is migrating its tokenized shares from Ethereum to the Polygon blockchain
Enegra is migrating its tokenized shares from Ethereum to the Polygon blockchain

In the end, Luc Falempin, Tokeny Solutions CEO added the following statement:

“Token issuers no longer have to worry about being tied to a blockchain forever. Without losing the history, we now have the tools and processes to seamlessly migrate from one network to another. “

Polygon is a protocol designed to scale and develop infrastructures on the Ethereum blockchain. According to PolygonScan, the network handles more than 3 million transactions per day and has approximately 105 million unique wallet addresses. Altcoin blockchains with low transaction costs are becoming increasingly popular lately due to the high gas fees on the Ethereum network, which are currently around $ 153 per smart contract execution.

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