Top 6 Security Tokens News – Weekly Digest (13 – 19 May)

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Polymath, Charles Hoskinson Team Up on Security Token Blockchain

Polymath is building a security token blockchain in collaboration with IOHK’s Charles Hoskinson, one of the co-founders of Ethereum.

Dubbed Polymesh, the new platform will be designed specifically for companies that want to create regulation-compliant security tokens, Polymath co-founder Trevor Koverko announced Monday at CoinDesk’s Consensus 2019. In theory, a purpose-built blockchain will help spur adoption of security tokens by streamlining the process for companies looking to launch tokenized assets. Source

“There are quadrillions of dollars of financial securities, and building a blockchain to secure them is an incredibly exciting task.”

Charles Hoskinson

Blockstream Rolls Out the New App Allowing Users Issue Security Tokens on Bitcoin Sidechain

It has become known that Bitcoin startup Blockstream is working on the launch of a new tokenized securities platform. The platform will provide users with an opportunity to issue their own tokens by utilizing the firm’s custom-built Bitcoin sidechain, Liquid Network. Source

Securitize is open sourcing its core protocol to boost security token issuance

Compliance-tech and security-token management firm Securitize is making a key part of its tech public by open-sourcing its Digital Securities (DS) Protocol, the firm has told The Block. The protocol is the firm’s core compliance platform which issues and manages security tokens, used by the likes of tZERO for their secondary trading market. Source

Germany’s First Security Token Offering Launches a Bounty Program

On May 8th, Bitbond Finance announced their bounty program, revealing that they are allocating 2% of the total funds raised in their STO to the bounty program. This means that up to 2 Million EUR worth of BB1 tokens is available for bounty hunters. Source

Security Tokens Reach Non-Accredited US Investors As Holding Periods For Some Assets Expire On OpenFinance Network

As of mid-May 2019, OpenFinance Network is set to allow non-accredited, US-based investors to access security tokens in Q2 2019. The required holding period for two tokenized securities will expire during the period, allowing for increased investor access for the first time in the United States. Source

Australian Advisory Firm to Launch $250 Mln Digital Securities Offering for Mining Sector

Major Australian capital advisory firm PCF Capital Group has chosen permissioned blockchain ecosystem KoreConX for a $250 million digital securities offering. The news was revealed in a press release shared with Cointelegraph on May 14.

PCF Capital is a corporate advisory firm with a focus on serving clients within the mining and resource sector, and has executed 120 mine divestment and project financing mandates for over $2 billion, according to the press release. Source

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