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BRIDGE Version 2 Goes Live

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The tokenization sector just got some interesting news as the token issuance platform BRIDGE announced the completion of a major systems upgrade. The upgrade provides users with a host of new features and functionalities. Now, businesses can effortlessly issue and managed tokenized assets.

Bridge the Gap

The BRIDGE (Banking Rules Infrastructure for Decentralized Global Ecosystem) platform simplifies the entire creation, issuance, and management of security tokens. The open-source software continues to gain popularity in the sector. The latest version 2.0 of BRIDGE features a suite of advanced compliance management features.

These new features include cross-asset capabilities. BRIDGE 2.0 can handle multi-token compliance. The updated rules engine directly integrates compliance and transference restrictions into the tokens protocol. In this way, security tokens issued on the BRIDGE platform remain compliant throughout their lifecycle.

Multi-Jurisdictional

One of the most advanced features added to the BRIDGE platform is multi-jurisdictional flexibility. Businesses can encode certain restrictions that only activate when the token is in a particular region. This feature allows issuers to define and attach tokens rules that dictate how the tokens must behave based on the laws of the land. Importantly, all these programmed restrictions are independently editable

BRIDGE Open-Source Software via GitHub

BRIDGE Open-Source Software via GitHub

Delegated Compliance

You can also delegate your compliance concerns to your legal department using the BRIDGE platform. A feature known as delegate compliance management allows you to integrate third-parties to help with your legal concerns. Additionally, authorized third-party KYC operators are able to integrate as well.

This is a nice feature as it speeds up the investment process significantly. You can utilize multiple KYC entities per country. In this manner, you ensure your investors meet the criteria. The system is so robust that you can even change KYC operators during your STO without a problem.

Tokenization Updates

BRIDGE Version 2.0 now includes management capabilities for the issuance, trade, and post-trade of tokenized assets. Currently, the platform handles multiple tokenized fiat currencies and securities. The update brings the platform in line with enterprise-level tokenization systems currently in the market

BRIDGE V1

The original version of BRIDGE helped developers to perfect their craft. The platform focused on compliance as its core strategy. For example, BRIDGE V1 followed the CMTA’s blueprint exactly. This Swiss financial association creates standards for tokenized securities in the country.

MPS Token

BRIDGE raised eyebrows in the cryptocommunity after successfully conducting the first large scale public offering of a tokenized equity in 2018. In this scenario, the MPS token represented tokenized equity which investors could purchase.

Checks and Balances

BRIDGE’s version 2.0 expands on the platform’s perfect compliance record by integrating a dynamic checks and processes compliance mechanism. Each transaction is evaluated prior to verification. All non-compliant transactions are sent to a secondary hold. These tokens then undergo a manual review.

The Future is Bright

BRIDGE developers announced a slew of other projects in the pipeline. The firm intends to release a Wallet App in the coming weeks according to developers. While details are scarce, developers confirmed the wallet will be non-custodial.

Notably, the wallet will feature a streamlined UX. Here, token holders can access token specific features such as exercising voting and dividend rights. Additionally, the firm plans to develop a peer-to-peer swap feature in the near future.

Captain to BRIDGE

When you consider the plethora of features and add-ons the new version brought to the table, it’s easy to see why developers were so eager to make the update public. Moving forward you can expect to hear a lot more from BRIDGE as their new products continue to disrupt the market.

David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.com

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