Enegra Group, a Malaysia-based commodities trading entity with a net asset value of $28 billion – has reportedly completed the migration of its equity-tied EGX security tokens to the Polygon blockchain from Ether. 

Specifically, two years ago, Energra reportedly finalized the tokenization of its entire equity, making it possible for shareholders to exercise their dividend, voting and governance rights in a digital fashion. 

Tokeny – operating as an asset tokenization and compliance infrastructure provider – was reportedly in charge of facilitating both the initial tokenization and token migration. 

We tokenized our equity to improve liquidity. And, now that the technology is available for faster, cheaper and compliant transactions on the blockchain, we wanted our investors to take advantage of it. Polygon and Tokeny provided the complete infrastructure we needed to do so, and we are extremely pleased with the results”. Matthew Averay, managing director and Head of Enegra, further remarked. 

Sandeep Nailwal, co-founder at Polygon, additionally shared that The tokenization of real-world assets and financial securities could potentially become the talk of the DeFi town, and Polygon expressed excitement to witness their partner, Tokeny, bring qualitative and compliant assets to the Polygon network. 

“By leveraging our infrastructure with the right software provider, such as Tokeny, businesses can quickly deploy or convert their assets to Polygon”. 

“Issuers of tokens don’t need to worry anymore about being blocked on a blockchain forever. Without losing any history, we now have the tools and processes for smooth migrations from one network to another.” Luc Falempin, CEO at Tokeny Solutions, also shared his comments regarding the development.