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Infinito Wallet to integrate Blockpass, bringing Support for Security Tokens

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Infinito Wallet to Support Security Tokens

In a recent press release, Blockpass and Infinito Wallet have announced a new partnership.  This alliance will see Infinito Wallet integrate KYC solutions provided by Blockpass, which will allow for the support of various security token protocols.

The duo makes it clear that this move is intended to bring ease-of-access to digital securities.  As the market is prime to be flooded with digital securities within 2019, the move is one of anticipation.

Beyond just security tokens, the Infinito Wallet currently supports various utility tokens.  Through the addition of security tokens, the current 300,000 users of the wallet will benefit greatly.

Blockpass

Founded in 2017, Blockpass is based out of Hong Kong.  The company specializes in development blockchain-based solutions with regards to regulation and compliance.  It is through the use of their KYC solution that the Infinito Wallet will gain the ability to support security tokens.

Blockpass CEO, Adam Vaziri, commented on the partnership.  He stated, “Security tokens continue to be the focus of discussions for the cryptocurrency and blockchain ecosystems and we are committed to improving access to this promising technological development. Our longstanding partners, Infinito Wallet, were perfectly suited to work with us to provide this regulatory compliant solution which will give users control in such a vital area. We are excited to be at the forefront of the security token revolution.”

Beyond this partnership, Blockpass has recently been in the news for their other developments within the digital securities sector.  Whether securing contracts with GoSecurity, or spreading the word on STOs at various conferences, Blockpass clearly believes in the future of digital securities.

Infinito Wallet

Founded in 2017, Infinito Wallet is based out of the UK.  With a product currently gaining traction, the team has looked to Blockpass to continue along the path.

The team at Infinito totals over 70 individuals.  Each of them with specialties allowing for the creation of a diverse offering.

Infinito Wallets Project Director, Thang Nguyen, commented on the integration of Blockpass, stating, “Today’s announcement with identity system leader Blockpass is another solid step in building our authority in the security token space and consolidating our position as leader in the cryptocurrency wallet ecosystem. Partnering with Blockpass will allow Infinito Wallet users to store, send, receive and utilize their security token.”

Competition

In recent weeks, the world of security tokens has seen various new wallets announce intent for their integration.  Most notably, industry-favourite wallet, Ledger, announced a partnership with NeuFund.

It is clear that with the rapid development of various trading platforms and issuance frameworks, wallet providers want to be ready for the upcoming flood of digital securities.  These companies do not want to be left behind, once these tokens become common place.  They do not want to be unable to offer their customer base a solution for their storage needs

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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

Security Token Issuers to Benefit from alliance of ‘Issuance’ and ‘VStock Transfer’

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Issuance partners with VStock Transfer

Just announced today, deal marketing platform, Issuance, has partnered with stock transfer agent, VStock Transfer. This alliance was formed as Issuance saw a need on behalf of security token issuers.  This was the ease of token registration and transfer.

As a result, partnering with a transfer agent such as VStock Transfer, allows companies having completed a digital security offering the ability to utilize services and experience based upon decades of experience in securities law.

These teams should be able to hit the ground running, as Issuance CEO, Darren Marble, has had previous experience working with VStock Transfer. Through their ability to provide experience, along with cost saving measures, it’s no wonder why Issuance has partnered with VStock Transfer.

Commentary

The CEOs of each company discussed the partnership at hand.

Yoel Goldfeder, CEO of VStock Transfer, stated, “As an SEC-compliant transfer agent who has had the pleasure of working with a range of companies from private to pre-IPO issuers to NYSE American, NASDAQ and OTC listed companies, it was a seamless pivot into digital securities…We look forward to working with Issuance, an industry pioneer who will help to fuel the capital raising component for our clients.”

Darren Marble, CEO of Issuance, stated, “As digital securities continue to merge with the capital market infrastructure, support from companies such as VStock Transfer are critical to remain compliant throughout the lifespan of a DSO…We are thrilled to add VStock Transfer to our growing network of strategic partners and provide valuable registry and transfer services for our clients and their shareholders.”

VStock Transfer

VStock Transfer is based out of Woodmere, New York, where they provide services as an SEC registered ‘stock transfer agent’. The company is spearheaded by CEO, Yoel Goldfeder – a seasoned attorney specializing in corporate and securities law.

For a deeper look at what services VStock Transfer is able to provide, make sure to visit their website HERE.

Issuance

Issuance was founded in 2018, and is based out of Los Angeles, California.  Above all, the main purpose of the company is to act as a bridging platform. For example, this means working to connect investors with appropriate digital securities issuers.

Make sure to check securities.io again for future news on Issuance, as they have indicated future plans to tokenize themselves.

Recent News

Issuance is rapidly developing into a well-rounded company.  For instance, this marks just one of various strategic partnerships announced in recent weeks.

Here is a look at a few of our other articles detailing those endeavours.

Issuance and Tokeny – Partnering with a Goal of Interconnectivity

‘PCG Holdings’ Shows Belief in Security Tokens with Investment in Issuance

Exclusive Interview with Issuance CEO – Darren Marble

Issuance partners with Prime Trust

Vertalo and Issuance join Forces

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Security Token News

Digital Securities Platform DX.Exchange, Survives First Week Scare

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Dx.Exchange has had quite the tumultuous week. As the exchange closes its first week of operation, the team behind the project was able to dodge a potentially damaging situation.

From hordes of investors signing up pre-launch, to potentially disastrous glitches, here is a brief look at the problems that plagued week 1.

Details of the Problem

Upon launch of the platform, an anonymous user took it upon themselves to evaluate DX.Exchange. Shockingly, the user found information leaks that could potentially be harmful to a variety of parties.

Information being leaked ranged from password reset links, to names, email addresses, and more. With this, if someone were so inclined, they would be able to create backdoor entrances to user’s accounts.

It isn’t hard to imagine what kind of havoc a malicious individual could wreak.

Problem Solved

In an attempt to allay investor’s fears, Dx.Exchange has reached out the public with the following statement.

“We would like to thank the vigilant reporter, and our supportive community, who together with, brought his issue to our attention. We are happy to report that the vulnerability has been successfully patched, and no user funds were compromised. Our launch was met with a stellar response from our community eager to trade cryptocurrencies and digital stocks. Customer funds were always safe, our multi layer advanced monitoring and defense mechanism was able to avoid any further issue.”

This statement came after the company scheduled platform maintenance within hours of the news breaking.

Caught out Attention

DX.Exchange originally caught our attention due to the manner in which they offer their services. Rather than hosting digital securities of companies that have decided to tokenize, DX.Exchange has taken a different approach.

They are purchasing traditional shares of publically traded companies, and then issuing their own security tokens to investors, representing ownership of the shares. Due to the method in which this transaction takes place, the shares are held by DX.Exchange. However, investors holding the associated security token receive the full range of benefits associated with them (dividends, equity etc.).

Examples of these companies notably include Apple, Tesla, Amazon, and others.

Skeptics Abound

The CEO of DX.Exchange has stated that due to their licencing and region of operation, the SEC has no means in which to stop them from offering these services.

However, there are many skeptics of the exchange that believe it will eventually face due recourse. Through what means is unclear, but there are certainly going to be companies that do not want their shares tokenized in such a fashion.

Dx.Exchange

DX.Exchange is based out of Estonia, and was founded in 2018. Above all, the company acts as an online exchange, providing investors access to a variety of digital assets.

Prior to the events discussed here today, we recently spoke about DX.Exchange and the companies recent launch. To learn more about DX.Exchange, make sure to read the article below.

DX.Exchange to Tokenize Publically traded Securities

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tZERO Completes Distribution of Security Token

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Token Issuance

In a recent press release, tZERO has announced that it has finished distributing their native token. This token goes by ‘TZROP’, and is known as a digital security – representing ownership in tZERO itself.

While tZERO finished the token creation process months ago, per regulations, it was mandated that they remain in lock-up for a 90-day period. During this time, tokens were to be held by a third party custodial service.  Finally, this 90-day lockup came to an end on January 10th, resulting in the aforementioned distribution and press release.

Successful STO

This issuance process comes months after tZERO completed a wildly successful security token offering, or ‘STO’.  For example, taking place over a roughly 2 month span in mid-2018, tZERO was able to raise $134 million USD.  In addition, this raise was made possible through investments seen from over 1000 parties worldwide.

Commentary on the Issuance

Multiple representatives from tZERO spoke on the importance of this token issuance.

tZERO Executive Chairman, Patrick Byrne, stated, “The issuance of the world’s first public cryptosecurity, OSTKP, in 2016 was tZERO’s Chuck Yeager moment: we broke the speed of sound by introducing the concept of real-time trade settlement. Today marks our Yuri Gagarin moment, where we leave behind the confines of the known world of traditional capital markets and take the first steps towards a new market powered by blockchain.”

tZERO CEO, Saum Noursalehi, stated, “This is one of the first Security Token Offerings on a decentralized public network, and was conducted in full compliance with the U.S. securities laws…This is an exciting milestone for tZERO, and we are even more enthusiastic about the opportunities this will create for private and public companies wishing to raise capital through security token offerings, and for investors who wish to trade those securities.”

Next Up?

The next step to be taken by tZERO, and the most anticipated by investors, will be the launch of a trading platform. The company originally launched a prototype of this platform on April 9th of 2018.  However, it is anticipated that a full launch will occur midway through 2019.

The launch of this platform will facilitate trading via secondary markets.  Thereby, imbuing new levels of liquidity to previously illiquid assets.

Recent News

We have recently reported on progress being made by tZERO. For instance, here are a look at a few noteworthy events from recent days.

tZERO is rounding into Form, After Being Awarded a Recent Patent

GSR Capital turns to tZERO for the tokenization of ‘Cobalt’

tZERO

tZERO is based out of New York, and is a subsidiary of Overstock.com. Each are products of Patrick Byrne’s, who has recently noted that he will be increasing his focus on the development of tZERO.  Above all, this subsidiary acts as a platform to facilitate various services aimed towards security tokens.

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