Enegra migrates digital equity tokens from Ethereum to Polygon blockchain

Enegra Group is a commodities trading company located in Malaysia with a net asset value of 28 billion U.S. dollars. It has migrated its stock-linked EGX security token from Ethereum to Polygon (MATIC) blockchain (Ethereum). In 2019, Energra tokenized 100% of its equity, enabling shareholders to digitally exercise their dividends, voting rights, and governance rights.The initial tokenization and token migration are both Promote Provided by Tokeny, an asset tokenization and compliance infrastructure provider.

Enegra Managing Director and CEO Matthew Averay said:

We tokenize our equity to increase liquidity. And, since the technology can be used to conduct faster, cheaper and compliant transactions on the blockchain, we hope our investors can take advantage of it. Polygon and Tokeny provided the complete infrastructure we needed, and we are very satisfied with the results.

At the same time, Sandeep Nailwal, the co-founder of Polygon, commented:

The tokenization of real-world assets and financial securities may be the next big wave of DeFi, and we are happy to see our partner Tokeny bring quality and compliant assets to the Polygon network. By using our infrastructure with a suitable software provider (such as Tokeny), companies can quickly deploy or convert their assets to Polygon.

Finally, Luc Falempin, CEO of Tokeny Solutions, added the following statement:

Token issuers no longer need to worry about being blocked by the blockchain forever. Without losing any historical records, we now have the tools and processes to smoothly migrate from one network to another.

Polygon is an agreement designed for Expansion and development of infrastructure On the Ethereum blockchain.According to PolygonScan, the network Process There are more than 3 million transactions per day and approximately 105 million unique wallet addresses.Due to the high gas fees on the Ethereum network, the low transaction cost altcoin blockchain has recently continued to gain popularity-currently Wandering Each smart contract is executed for approximately USD 153.