Tezos News

Sustain.Exchange To Develop A Primary Issuance Platform For Digital Securities Built On Tezos

It was today announced on Zawya.com that Sustain.Exchange will create a primary issuance platform for digital securities built on Tezos.  Sustain.Exchange is thought to be the first Shariah compliant crypto ecosystem in the world.

The founder of the Sustain.Exchange is Sulaiman Al-Fahim a well-known property/real estate developer in the United Arab Emirates and CEO of Hydra Properties Real Estate Development Company based in Abu Dhabi. They are developing many real estate projects in Abu Dhabi including the Hydra Avenue project, which consists of 6 towers, 906 residential units, and 19 townhouses. Al-Fahim is also the president of the Arab Union For Real Estate Development

It was stated: “In the short term, SUSTAIN.EXCHANGE plans to develop and enhance its Tezos baking infrastructure, which will allow it to participate in the Tezos protocol’s self-upgrading governance mechanism and engage with the broader Tezos ecosystem. SUSTAIN will also provide technical expertise and lend support to the ongoing development and improvement of the Tezos protocol.

However, it was also stated that their work would also include the development of a primary issuance platform for Tezos digital securities: “which will enable a pipeline of asset tokenizations on Tezos in the region”. It is thought that Dalma Capital based in Dubai are looking to tokenize assets on Tezos. In 2019, it was announced that Dalma Capital and BTG Pactual had formed a partnership to utilize Tezos Blockchain for Security Token Offerings and partnered with BTG Pactual as joint-bookrunner for the BTC Pactual REITBZ. BTG Pactual also plans to initiate secondary trading activities relating the the REITBZ soon:

Sustain.Exchange recently partnered with Affipay in July 2020, who are an e-commerce payment service and have a strong presence in Latin America and South America. It was stated: “Affipay is part of Grupo Affinitas a well-diversified conglomerate of companies within the financial, insurance, hospitality, and real estate industries.” 

Sulaiman Al Fahim, founder of Sustain.Exchange stated: “

“Our work on the Tezos protocol adds to the value we want to create on SUSTAIN.EXCHANGE  to help the 1.8 billion members of the Muslim community across the world to securely access and trade cryptocurrencies backed by state-of-the-art blockchain technology. Building on Tezos gives us access to a successful and technically experienced global ecosystem of builders and developers, and will help us strengthen our processes and achieve the milestones we have planned for SUSTAIN”

We are thrilled to welcome SUSTAIN.EXCHANGE to the Tezos ecosystem given their status as a leader in digital innovation. The Tezos Foundation eagerly anticipates SUSTAIN’s contributions both to the protocol and to the growth of the Tezos ecosystem in the GCC region and beyond.

Hubertus Thonhauser, Chairman of the Tezos Foundation Council stated: “We are thrilled to welcome SUSTAIN.EXCHANGE to the Tezos ecosystem given their status as a leader in digital innovation. The Tezos Foundation eagerly anticipates SUSTAIN’s contributions both to the protocol and to the growth of the Tezos ecosystem in the GCC region and beyond.”

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