Issued BWALA tokens and the associated smart contracts continue to exist on the public Ethereum or Gnosis chain irrespective of whether or not Tokenize.it is still in business. The ERC20 standard used by the tokens ensures ongoing compatibility with many common blockchain wallets and exchanges.
All rights and responsibilities that arise from the token or its ownership prevail, following the principle, “pacta sunt servanda” (“contracts are binding”). To paint a picture: If you bought a car and the dealership closes, you still own the car. 😊