Monaco chooses Tokeny Solutions as its tokenisation partner

Frédéric Genta, serving as Monaco's Delegate for Digital Affairs, conveyed the government's ambitions in an official statement: "Monaco is moving towards its ambition to become a funding nation for progress with our STO framework." He emphasized that both the newly adopted legislation and the partnership with Tokeny represent critical milestones necessary for achieving these objectives.

The deal represents a notable achievement for Tokeny. Pierre-Edouard Borderie, serving on Tokeny's board, expressed satisfaction with the arrangement: "As a strategic investor in Tokeny Solutions, we are pleased that the Principality of Monaco has appointed the company as the tokenization platform of government-approved innovative projects." The company is developing a subsidiary operation in Monaco, with the partnership enabling "control and compliance to the Ethereum blockchain," as outlined in Tokeny's public statement. The framework provides official validation to qualifying projects, designed to encourage further development efforts.

IceBreaker, the environmental initiative supported by acclaimed documentary director Luc Jacquet, whose work won an Academy Award, will become the program's first participant. This arrangement enables organizations like IceBreaker to seek financing while preserving operational autonomy. Luc Falempin, Tokeny's chief executive, indicated that IceBreaker intends to raise approximately $50 million in addition to developing a range of other undertakings and a feature film.

In discussing Monaco's wider objectives, Falempin offered his perspective: "Monaco doesn't have much financial activity at the moment, so they took this opportunity with security tokens to prove to Europe they can do compliant, on-chain finance." He continued: "Most of the high-net-worth people in Monaco are buying real estate to park money. The idea now is for investors and money in private banks in Monaco to invest in green projects."