Goldman Sachs Backed Circle Blockpass DSTOQ and Others Explore Security TokensOctober 16, 2018
Dan Doney, the co-founder of Securrency, stated, “security tokens have to be truly liquid – they are not to be not be limited to one ledger, and they need to be easy to trade, transfer and regulate.”
There needs to be a protocol that is globally compliant. The protocol should have the speed, efficiency and the transparency for its issuers. This is applicable regarding transparency to the Wall Street through transparency to the Main Street.
When registering for the security token the symbol should be registered, the KYC providers should be chosen, the details of the tokens should be set up, and the token should be listed. These tokens are released based on blockchain technology.
Leaseum Partners offer security tokens for Newyork based real estate property.
Though the tests for security tokens are not complete yet, for now, it is enough for the token to confirm to the standards of Howey Test.
Craig McGregor CEO of DSTOQ stated when talking about their partnership with Blockpass, “Our major goal is to ensure that capital markets are accessible to everyone, regardless of where they are from.”
Blockpass and DSTQ have a common vision in that the legally compliant solutions are important to advance the security token industry. Blockpass is one of the very few blockchain-based KYC providers who are already operational, and that is why this partnership is a pleasing one.
Adam Vaziri, CEO of Blockpass stated, “Token finance is on its way to becoming an essential part of the global financial system.” He further stated that Blockpass is way ahead in providing advanced and compliant solutions for the next generation of finance.
Jeremey Allaire, CEO of Circle, is as well targeting to establish itself in the security token marketplace. “Our belief is to make use of tokenized assets with cryptographic tokens and smart contracts to create a new type of asset class— This will grow, and with time there will be hundreds of thousands of people issuing, trading, and exchanging, all around the world.”
Circle acquired Polenix, then it acquired Seed Invest for its ability to operate as a broker dealer. The strong history of Seed Invest is likely to take Circle to the next level: “The power of tokenization helps more assets to be represented in a liquid form that is easily trade-able. It is powerful as it creates a path for smaller and mid-size businesses to raise capital directly. These assets can be made available at global markets, over the internet, to accredited, mainstream, and unaccredited investors. And that’s where SeedInvest pioneered.”
There is a continuous march of several Fintech companies to tap the potential of security tokens.