Each of these companies brings a unique service to the table. By combining their efforts, the resulting functionality will provide a comprehensive solution for those looking to tokenize. This partnership will see Coinstreet Digital issue digital securities on the STO Global-X platform. These digital securities will take form as ERC-1400 tokens – a popular standard developed by Polymath.
Beyond tokenization, Coinstreet Digital intends to open over-the-counter trading services through the STO Global-X platform, as well.
In their press release, representatives from each of the three companies took the time to comment on the development.
“We are excited to showcase Polymath’s technology as an easy-to-deploy, white label solution for STGX’s tokenization platform…We want the community to understand that Polymath’s mission is to facilitate the digitization and management of assets, both directly and indirectly. In this case, we are pleased to power the tokenization solution and be the chosen protocol for great brands like Coinstreet and STO Global-X.”
“We are very pleased to establish strategic partners with Polymath and STO Global-X. With such collaboration, it enables us to offer a one-stop, end-to-end STO issuance, OTC and exchange solution to our STO clients.”
“Tokenized representations of traditional as well as emerging asset classes can effectively address some real problems in the current financial ecosystem…These crypto assets fit fairly well within existing regulatory frameworks while providing for improved accessibility, liquidity and transparency throughout an asset’s lifecycle. We are eager to work with partners like polymath and Coinstreet to build the comprehensive infrastructure needed to support tokenized securities.”
STO Global-X is a Singaporean company that was founded in 2018. The company was formed through a joint effort by Coinstreet Partners and Blockchain Worx. In the time since inception, STO Global-X has developed services allowing it to effectively manage digital securities throughout their lifespan.
Coinstreet is a Chinese company based out of Hong Kong. From here, the company functions not only as an investment firm, but as a consultancy group. Beyond helping companies expand their presence within China, Coinstreet is believed to be developing a ‘decentralized investment bank’.
Polymath is a blockchain company focused on the digital securities sector. They were founded in 2017, and maintain headquarters in Toronto, Canada. The company has notably developed the ST-20 token standard, which has seen impressive adoption to date.
In Other News
Each of the companies discussed here today have previously found themselves in our news feed. Here are a few articles detailing past moves by each.