Security Tokens Daily Digest #5 (21-23 Nov, 2018)

UK Token Advisory Firm TokenMarket to Help DOVU Conduct STO

Token advisory service provider TokenMarket announced on Tuesday that it had reached an agreement with blockchain-oriented DOVU, which focuses on mobility use cases. According to the partnership, TokenMarket will support DOVU with its first security token offering (STO) event.

DOVU, a startup backed by Jaguar-Land Rover’s investment branch InMotion Ventures and UK non-profit organization Creative England, had its token sale event last year and secured $6.2 million. The firm used the funds to build a token, wallet, and marketplace ecosystem revolving around mobility rewards. Earlier this month, DOVU announced its intention to sell 5% of its equity through an STO, which is planned for the first quarter of next year. After the equity crowdsale, users will be able to hold both utility and security tokens, with the latter providing ownership rights.

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CapBridge granted Singapore license with plans to offer security token exchange

Global private capital platform CapBridge, today announced that it has received approval from the Monetary Authority of Singapore (MAS) for its associated entity, CapBridge Platform Pte. Ltd., to operate a securities exchange known as 1exchange (1X) as a Recognised Market Operator (RMO) in Singapore.

CapBridge and Ethereum blockchain technology studio ConsenSys are working to develop a fully compliant private securities exchange built on the public Ethereum blockchain. In due course, this regulated and secure exchange will offer services that include the listing and trading of security tokens.

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SPiCE VC Security Token Listed on OpenFinance Network

SPiCE token has become the first security token to get listed on a U.S regulated trading platform

Non-US residents can now trade their tokens, but U.S. accredited investors are required to wait until next year

SPiCE says it will list more security tokens on OFN soonSPiCE VC, a blockchain technology-powered venture capital startup focused on issuing liquid, regulation-compliant security tokens has announced the listing of its token on the OpenFinance Network, a U.S.-based regulated security token platform and non-U.S. investors can now trade their tokens on the exchange, reported Finance Magnates on November 19.

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Atomic Capital CEO Outlines Ethereum’s Current Security Token Standards

Atomic Capital CEO Alex Blum recently summarized several ERC-20 security token standards that are currently live on Ethereum. While they all aim to achieve similar goals, the mechanisms and protocols in which they strive for such achievement can differ— sometimes significantly.

Security tokens differ from utility tokens insofar as the former have a strict need for regulatory compliance. This need endures throughout the entire lifecycle of security tokens: from initial issuance to secondary market trading.

Various agencies are responsible for enforcing such regulatory requirements. In the United States, for example, there is the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the Commodity Futures Trading Commission (CFTC).

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KoreConX Announces its Partnership with Bellotti Capital

KoreConX is proud to announce that Bellotti Capital will now be part of the KorePartner’s ecosystem and will be supporting KoreConX security token protocol exclusively.

Bellotti Capital is an exempt market dealer that specializes in the structuring transactions and subsequently placing capital with targeted investor groups. The company also provides support and direction to issuers who are seeking to grow, by taking an active role in the listing process and providing advisory services.

“At Bellotti Capital, our main concern is the wellbeing of early and growth stage ventures. We believe that KoreConX has the same mindset and has developed a fantastic tool that allows companies to find services such as cap table, investor relations, and transfer agent all in one place,” said Frank Bellotti, CEO of Bellotti Capital. “We are excited about what this partnership will bring.”

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