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A Trio of Companies has Targeted Asia for the Expansion of Digital Securities

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A Trio of Companies has Targeted Asia for the Expansion of Digital Securities

Asian Expansion

It was recently announced that BMI Coinstreet Digital intends to utilize the services of both Polymath and STO Global-X in an attempt to make STOs commonplace in Asia.

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.

Commentary

In their press release, representatives from each of the three companies took the time to comment on the development.

Kevin North, CEO of Polymath, stated,

“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.”

Samson Lee, Cofounder of BMI Coinstreet Digital, stated,

“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.”

Floyd Dcosta, CEO of STO Global-X, stated,

“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

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.

BMI Coinstreet

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

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.

Polymath Proves DEX Security Token Concept

Securitize Grows its Asian Footprint with Strategic Alliances

STO Global-X Announces the Launch of End-to-End Security Tokens Platform

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Joshua Stoner is a multi-faceted working professional. He has a great interest in the revolutionary 'blockchain' technology. In addition to this, he is a licenced Paramedic in Nova Scotia, Canada. As such, he can provide emergency care/medicine to any situation necessitating it.

Issuers

Agora Innovation Secures Funding for IVE.ONE Platform

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Agora Innovation Secures Funding for IVE.ONE Platform

This week, the security token issuance platform, Agora Innovation announced that the firm successfully completed a seven-digit pre-series A investment round. Notably, the main investor was FinLab EOS VC. Now, Agora Innovation is set to expand its capabilities. Specifically, Agora seeks to launch its highly-anticipated IVE.ONE security token ecosystem in the coming weeks. The news showcases more demand for tokenization platforms within the EU and Asian markets, as well as, a major milestone for the IVE.ONE team.

IVE.ONE

IVE.ONE is a regulated issuing and investment platform for trading tokenized securities. Importantly, the platform enables the global trading of digitized securities within the legal framework of a specific region. The use of blockchain technology provides more efficiency in the sector because it enables developers to integrate compliance mechanisms directly into the platform’s tokens.

One of the main concerns for developers of the IVE.ONE platform was scalability. Scalability continues to plague Proof-of-Work blockchains such as Bitcoin. In order for large blockchain adoption to increase, projects need to emerge with the highest scalability possible. As such, IVE.ONE utilizes a unique dual-blockchain setup. The platform can accommodate both ERC20 and EOSIO blockchain tokens.

IVE.ONE promises to deliver some unique and powerful tools to the market. The platform enables advanced tokenization and investments into regulated securities. On top of the tokenization benefits, the firm also provides a proprietary verified digital identities system.

Validity Labs Co-Founder Dr. Sebastian Burgel

Validity Labs Co-Founder Dr. Sebastian Burgel

This system utilizes a blockchain verification system to link users to their respective blockchain wallet addresses. Once linked, the platform employs a rule engine to ensure all the tokens remain aligned with the varying national regulatory requirements set forth.

Agora Innovation – Dual Blockchain Approach

Discussing the new platform’s capabilities, Evgeny Matershev, Agora Co-Founder and Chief Product Officer described the excitement felt by developers after gaining access to the EOS blockchain. Matershev described how the dual-blockchain approach provides greater flexibility for issuers and investors. Additionally, he spoke on how recent updates to EOSIO can ensure the future scalability of the entire project.

Also, Phong Dao, Agora Co-Founder, and CEO chimed in on the status of the project. He described how his firm utilized a seed investment from HTGF one year ago to bring the project to fruition. Notably, he touted how the project provides a better ecosystem for digital assets on the blockchain

Dao explained that the firm will now expand marketing and sales activities into the Asian market. He also stated that the eventual goal is to expand into the EU within the coming year. Lastly, he spoke on the firm’s next moves. These maneuvers include an STO scheduled for the second quarter of 2020.

FinLab EOS VC

Importantly, FinLab EOS VC was the main investor during this funding round. FinLab EOS VC is one of the first and largest investors focused specifically on financial services technologies in the EU market. Also, Stefan Schütze, Managing Director of FinLab EOS VC Fund spoke on how the platform incorporates a complete and automated regulatory framework with an easy to navigate interface.

IVE.ONE is Set to Launch

Considering the added usability and functionality IVE.ONE promises to investors and issuers, there are sure to be some significant advantages over the competition. You can expect to hear more about this exciting project as the launch date approaches.

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Australian Securities Exchange (ASX) Prepares Blockchain Clearing System Launch

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ASX to Launch Blockchain Clearing System

This week, executives from the Australian Securities Exchange ASX made some encouraging statements regarding the firm’s shift towards blockchain technology. The company has spent several years contemplating how to best upgrade its current outdated clearing and settlement system – CHESS. Now, thanks to a team of ingenuitive developers, the entire Australian securities market will now enjoy more efficiency, transparency, and security.

Importantly, ASX was one of the first major securities firms to embrace blockchain technology in the country. Over the last few years, the company shifted its attention to tokenization and security tokens. These technologies are far more efficient than the current business systems in place.

ASX Upgrade

Discussing the upgrade in a recent interview, ASX CEO, Dominic Stevens described the excitement surrounding the entire project. He explained how the new system provides the entire industry with a more streamlined alternative. Specifically, Stevens touted the improved clearing and settlement times the system boasts.

Traditionally, clearing and settlement can take upwards to a week to complete. This delay is due to the involvement of a host of third-party verification systems. All of which add to the total costs of the transaction. In comparison, tokenized securities can settle in hours because they operate in a trustless manner that requires no other verification.

ASX CEO, Dominic Stevens via Financial Times

ASX CEO, Dominic Stevens via Financial Times

Stevens also spoke on the power of risk management and process automation that the new system brings to the market. In terms of risk management, security tokens create liquidity in the sector. As such, this liquidity provides investors with more options. Additionally, smart contracts provide issuers with the ability to integrate certain processes and regulatory requirements directly into a token’s protocol.

Strategic Partnerships

In order to create a new clearing system that could accomplish all the required tasks, ASX made a strategic partnership with the US-based firm Digital Asset (DA). For its part, DA agreed to create and manage the blockchain underpinnings of the platform.

DA is a blockchain infrastructure provider that serves enterprise-level clientele. The firm is well-recognized in the sector. Previously, DA made global headlines after the firm secured $35 million in Series C financing from ASX in December 2019. Today, you can see that funding went to good use.

ASX Prepares to Launch New System

According to company documentation, ASX seeks to begin industry testing as early as July 2020. Unfortunately, the firm provided no additional information as to exactly how, and who would participate, in the new system’s launch.

Australia Blockchain

The land down under continues to shine in the blockchain realm. Ever since government officials proclaimed cryptocurrency legal way back in 2017, the entire industry has experienced growth. Today, Australia holds the registration to 312 exchanges.

ASX – Taking the Australian Blockchain Market to New Heights

This latest news is sure to spark the interests of securities firms globally. Many of these firms have been on the fence regarding blockchain integration. For now, ASX is set to take a leading role in the global market pending a successful launch of its new clearing system.

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Bankhaus von der Heydt Unveils Blockchain Strategy

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VR Bank to Issue Security Token with the help of Tokeny and Lition

This week, the German Bank von der Heyd stunned the EU banking community after revealing plans to issue security tokens and offer custodial services in the coming weeks. The news demonstrates further integration of blockchain technology among the EU’s traditional banking sector, as well as, a desire by Bankhaus von der Heydt to become the industry leader.

News of the new services first broke via a press release. In the release, the private bank shed some light on the project and the progress to date. Company documents revealed that the bank completed its first custodial transactions successfully this month. Additionally, the blog gave some insight into the bank’s future intentions.

Tokenization Strategies

According to reports, Bankhaus von der Heydt will provide commercial clients the ability to tokenize assets via the platform. In this way, bank officials seek to become a major force in the German blockchain sector. Additionally, the bank has plans to issue a EURO-backed stablecoin in the coming months to supplement its digital asset economy.

The new products make Bankhaus von der Heydt the first German bank to provide a digital asset custody solution to clients. As such, the firm hopes to achieve a significant strategic advantage over the competition. Discussing the new strategy Bank von der Heydt managing director,  Philipp Doppelhammer spoke on his firm’s work. He explained that bank researchers spent years observing the blockchain space. This research helped the firm to design relevant products to the current state of the market.

Bankhaus von der Heydt Managing Director Philipp Doppelhammer via Xing

Bankhaus von der Heydt Managing Director Philipp Doppelhammer via Xing

Doppelhammer also explained why these products provide his firm with outstanding added value. As the only German bank to offer licensed digital asset custodial services, Bankhaus von der Heydt is positioned to be a major player in the EU markets. Lastly, he took a moment to let the public know that these products are now ready for the market from a regulatory and technological perspective.

Partnerships

In order to ensure the success of the venture, Bank von der Heydt collaborated with FinTech and blockchain services provider, Bitbond. For its part, Bitbond provided the technical infrastructure surrounding the custodial aspects of the strategy. Additionally, the bank utilized Bitbond’s proprietary technology to develop several asset structuring and asset servicing products as well.

Speaking on the partnership, Radoslav Albrecht, CEO, and founder of Bitbond explained how his firm continues to work with several banks and financial intermediaries to expand the capabilities of the platform. He also touched on the important benefits tokenization brings to the market, such as liquidity.

Additionally, Albrecht described the feeling of excitement surrounding the project. Here he pointed out that this was the first project to use blockchain technology in the area of securitization and private placements in the country. He also stated that his firm was “pleased to cooperate” with the bank, which he labeled a proven industry expert.

Bankhaus von der Heydt Takes the Lead

It now appears that Bankhaus von der Heydt will have a strong positioning in the market moving forward. This firm continues to utilize its unique stance to keep up-to-date on all the latest FinTech trends. You can expect to hear a lot more from this group as its new projects gain popularity in the coming weeks.

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