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Blockport Announces Support for TrueUSD

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Blockport Announces Support for TrueUSD

Lowering the Barrier

Stablecoins have a broad appeal, as they allow for investors to escape market volatility, without cashing out their holdings to FIAT. Recognizing this appeal, Blockport has just announced a new partnership formed with TrustToken, and their stablecoins – TrueUSD.

This partnership will see the ERC-20 based stablecoin supported on the BlockPort platform. It will act as a base trading pair, allowing for platform users to trade seamlessly between the stablecoin and other supported assets.

With the company’s upcoming STO, they have also announced that their very own digital security will be the first token to support trading with TUSD upon launch. In addition to supporting TUSD as a base trading pair, this partnership also opens the door for Blockport to support eventual U.S deposits on the Blockport platform.

By establishing support for TUSD, Blockport has just become a much more flexible platform, offering a lower barrier to entry, and an enticing suite of offered assets.

StableCoins and Securities

Both digital securities and stablecoins have been identified by various industry pundits as some of the biggest trends to follow in 2019 and beyond. While 2019 has only just started, these views seem to be spot-on, as various STOs have begun turning to stablecoin use.

TUSD

TrueUSD, or TUSD, is a stablecoin based off of the ERC-20 protocol. This stablecoin was released, and is managed by, TrustToken. This token, as its name would imply, is backed/pinned to the U.S Dollar. This means that that token mimics the activity of the world’s preeminent FIAT currency. In doing so, the asset functions with minimal volatility in comparison to most assets.

Commentary

In their press release, representatives from both Blockport and TrustToken took the time to discuss the partnership discussed here today.

Sebastiaan Lichter, CPO of Blockport, stated,

“Global metrics show that USD trading pairs have the highest trading volumes, and are the most used currency for trading Bitcoins…This is a huge step toward bringing Blockport to the US Market and the markets of over 150 other countries and jurisdictions worldwide.”

Tory Reiss, Head of Partnerships and Business Development at TrustToken, stated,

“Blockport and TrustToken have both set out to build solutions that seamlessly bridge the traditional world of finance with the new digital economy…We are excited to be working with Blockport to greatly advance this mission and bring the benefits of tokenized currencies to more people around the world.”

Blockport

Blockport is Dutch company launched in 2017 out of Amsterdam. Above all, Blockport strives to deliver a comprehensive trading platform to the industry. Their approach will see the company utilize both utility and security tokens to achieve their goals.

The upcoming Blockport STO is scheduled to launch March 31st, 2019. To learn more about this event, check out the Blockport website HERE.

In Other News

In anticipation of their upcoming security token offering, we were recently able to interview Blockport founder, Sebastiaan Lichter. Check out the articles below to learn more about this up-and-coming company, in addition to stablecoins and the future role they may play in the industry.

Interview Series – Sebastiaan Lichter

Circle Identifies Stablecoins and Digital Securities as Emerging Trends

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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.

Security Token News

BlockState Gains Clarity on STO Taxation Within Switzerland

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BlockState Gains Clarity on STO Taxation Within Switzerland

No Tax. No Vat.

BlockState, a Swiss digital securities issuance platform, has recently closed their very own STO. Upon doing so, multiple questions were raised with regard to how capital, brought in during this event, would be taxed.

The STO hosted by BlockState represented the first of its kind in the region, making the young company a trailblazer within the digital securities sector.

As stated by BlockState, confusion remains on the taxation of capital raised through STOs…until now.

Clarity

In an effort to gain clarity on the situation, and set a precedent moving forward, BlockState turned to PST Legal. This law firm was tasked with gaining clarity from Swiss regulators. Their efforts were successful, with recent rulings being doled out.

It was ruled that capital raised through such means would NOT be subjected to either profit tax, nor value-added-tax (VAT). Rather, much like traditional capital raises, funds garnered through STOs structured in such as manner would only be subjected to ‘security issue tax’.

By achieving this, BlockState has not only made their own path easier moving forward, but for others as well. This ruling provides future STOs with precedent and clarity on how their actions will be received by regulators.

Commentary

In their release, BlockState comments on the development. They state that it was concluded that the,

“…issuance and the profit on the sale of own shares through a security token offering in this specific case does not trigger profit tax and added-value tax, but security issue tax. This is a unique tax clarification for the BlockState’s security token offering model and marks the first time that a Swiss tax authority has issued a ruling on the tax classification of an equity STO.”

With this development, BlockState commented on what it means to them. It was stated,

“We are excited to be part of the progress in this space, not only developing leading technology and legal frameworks, but being able to play an active role in the regulatory conversation around security tokenisation.”

BlockState

BlockState is a Switzerland based company, which was founded in 2018. Above all, Blockstate acts as an issuance platform for companies looking to tokenize assets. The company operates with a mission of unlocking trapped wealth, through the use of blockchain technologies.

CEO, Paul Claudius, currently oversees company operations.

Zug, Switzerland

With their progressive approach to blockchain, and companies taking part within the industry, Switzerland is fast becoming a hub for the technology. This has led to the town of Zug being dubbed ‘Crypto Valley’.

Companies involved with blockchain have been drawn to the area, as the Swiss government has taken the initiative to provide clarity on law and regulations governing the sector. Being afforded this clarity allows for these companies to operate efficiently, and without fear of repercussions for actions taken.

In Other News

In months past, we have detailed development pertaining to BlockState multiple times. From their migration of ERC tokens, to hosting STOs on behalf of others, BlockState has remained busy. The following articles dive deeper into each of these events

BlockState Hosts First STO for Streetlife International

BlockState to Add ERC Tokens to Corda

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Security Token News

Prime Trust to Utilize Various Services Provided by Vertalo

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Prime Trust to Utilize Various Services Provided by Vertalo

On-Chain Cap Table

Building off of a relationship first established in 2018, Prime Trust and Vertalo have announced new growth in this partnership.

This development will see Prime Trust utilize, and benefit, from services provided by Vertalo, including cap-table management.

For a company to be successful, it is of great importance to have a thorough knowledge of its equity breakdown – including values, dilution, ownership, etc. This tedious process is made simple through services provided by companies such as Vertalo.

Shared Responsibilities

In their announcement, this paring of companies notes various areas in which they will find themselves cooperating. The following points were provided in their press release, describing how they will be working together.

  • The creation and support of on-chain cap tables for thousands of Prime Trust crowdfunding issuers through the Vertalo Registry, a service which is directly connected to Prime Trust’s Custody, KYC/AML, escrow, and onboarding services
  • Preferential pricing for Prime Trust clients who choose to utilize Vertalo’s B2B SaaS cap table platform, and simple opt-out for those who wish to use a spreadsheet or other platform to manage their investor file
  • The option for participating issuers (Prime Trust clients) to tokenize their cap tables from within their branded Vertalo interface at any time in the future, using any issuance platform or smart contract that is supported by an exchange and partnered with Vertalo

Commentary

Representatives from each company took the time to elaborate on this partnership, and what it means moving forward. The following is what each had to say on the matter.

Kevin Lehtiniitty, CPO for Prime Trust, states,

“Vertalo has come to the realization that mass adoption of asset tokenization requires that blockchain specific concepts such as wallets and addresses be black-boxed from the typical retail user. We at Prime Trust share the belief with the Vertalo team that crossing the chasm requires abstraction and simplicity, which makes us excited to announce this partnership. Using Vertalo’s very intuitive tools, any issuers from our crowdfunding business will be able to manage and tokenize their securities as well as provide their investors with UI access to view their investment. We’re very excited to continue working with the team at Vertalo on expanding our partnership and offering this tokenization potential to all our issuers. There’s much more to come with Vertalo which we’ll share with the world when the time is right.”

Dave Hendricks, CEO of Vertalo, states,

“Vertalo’s partnership with Prime Trust will provide their thousands of clients with Vertalo’s on-chain cap table, issuer and investor interfaces, enabling Prime Trust’s clients to directly connect with their investors for the goal of improving the investor relations and ownership experience. Prime Trust clients who convert to Vertalo will also be provided with ultra-low cost ‘optional tokenization’ of their cap table in the event that they want to convert their paper shares to digital assets for trading on Vertalo partners such as OpenFinance. This deep integration between Prime Trust and Vertalo builds on more than a year of co-development effort that has sought to simplify the purchase, management and sale of digital assets for both issuers and investors. We’re proud to work with the team at Prime Trust and look forward to announcing more useful innovations together soon.”

Prime Trust

Operating out of Las Vegas, Prime Trust was founded in 2016. The team at Prime Trust has developed a variety of offerings serving the digital securities sector. This includes custody, escrow, compliance, and more.

CEO, Scott Purcell, currently oversees company operations.

Vertalo

Operating out of Texas, Vertalo first launched in 2017. The company offers a variety of services tailored towards the blockchain industry – ranging from cap table management, to an issuance platform, and more. To date, they remain one of the most active companies within the digital securities sector.

In our on-going interview series, we have had the pleasure of interviewing CEO, Dave Hendricks. Visit this interview below to learn more about Vertalo and their plans for the future.

Interview Series – Dave Hendricks, CEO of Vertalo

In Other News

Each of the companies discussed here today have caught our attention on multiple occasions over the past year. The following articles elaborate on a few of the developments which each have made during this time.

Prime Trust Ramps up Security Measures with Help from Fireblocks

Vertalo Releases V-Token Software for Usage during Tokenization

Vertalo and tZERO See Influx of Talent as Multiple hiring’s are Made

 

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Security Token News

RISE Secures Broker-Dealer in Entoro Capital

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RISE Secures Broker-Dealer in Entoro Capital

Brought to you by…

RISE Wealth Technologies has announced that they have secured a broker-dealer for their currently live security token offering. This role has been filled by Entoro Capital, and will see them provide their services immediately.

In their current STO, RISE has set out with a goal of raising $120 million in funding. These funds are being raised, as the company looks to fuel their continued expansion and product development.

For investors that take part in the STO, they will be rewarded with a variety of benefits.

  • Regular Dividends garnered from various platform features
  • 4% p.a. Extra Payback in addition to Profit Payouts
  • Entitlement to Proceeds should RISE undergo an IPO

Commentary

Upon making their announcement, representatives from each, Entoro Capital and Rise, took the time to comment. The following is what each had to say on the development.

James C. Row, Managing Partner at Entoro Capital, stated,

“RISE is led by serial-entrepreneurs with a strong management team and a proven track record, which was crucial to us…A strong confidence in the team is paired with a shared belief that the future in asset management will be technology-driven. This makes RISE a perfect fit for Entoro.”

Stefan Tittel, CEO of RISE, stated,

“We are excited to be partnering with Entoro who has proven to be an experienced partner for companies within the FinTech industry…Their strong cross-industrial network has for years been a valuable asset to many partnerships. With the Broker-Dealer Agreement for Capital Raise we anticipate a great deal of mutually beneficial opportunities and synergies for both companies – with most of these benefits accruing to our clients.”

RISE Wealth Technologies

RISE has operated since 2012, within Grunwald, Germany. Through the use of AI, the team at RISE have developed a set of trading algorithms. These are built to provide retail investors with access to professional style trading tactics.

CEO, Stefan Tittel, currently oversees company operations.

We recently covered RISE, as they look to raise capital through and STO. Check out the following article to learn more about this event.

RISE Wealth Technologies Aim for a $120 million Security Token Offering

Entoro Capital

Operating out of Houston, Texas, Entoro Capital is an investment bank that has shown great interest in blockchain technologies. This interest has led them to develop services and platforms such as OfferBoard, Entoro Xpress, and more.

Managing Partner, James C. Row, currently oversees company operations.

Strategic Partnerships Abound

This is not the first time that Entoro has played a pivotal role in an STO, or as half of a strategic partnership. The following articles discuss various examples demonstrating their rapid development and adoption as of late.

Elite Mining – The Future of Mining is Green

DigiMax & Entoro to Collaborate as Advisors on Digital Security Offering

Entoro Eyes Secondary Markets Through Partnership with Unicorn

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