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LeadBest and Polymath form Partnership to create Security Token Ecosystem

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LeadBest and Polymath form Partnership to create Security Token Ecosystem

LeadBest and Polymath

In a recent press release, blockchain company, LeadBest, announced a partnership with Polymath. A mutual goal led to the formation of this alliance.  Create a ‘token economy ecosystem’.

This move marks one of Polymath’s various forays into Asia. It allows for Polymath to keep a finger on the pulse of the region. In doing so, future ventures within Asia will continue to be well-educated moves.

This move is key to establishing global standards on the implementation and utilization of digital securities on a technical level.

LeadBest announced this alliance at the ‘Proof-Of-Lead’ Salon. This is an ‘invitation event’ that see industry leaders gather to discuss the past, present, and future of blockchain.

LeadBest

LeadBest is based out of Taiwan, and was founded in 2018. Above all, LeadBest works to facilitate funding for companies. LeadBest achieves this through tokenization, and STOs.

LeadBest CEO, Neil Lee, commented on the future goals of the company. He stated, “At present, STO has a huge share of the global market, requiring industry players to jointly formulate industry rules and give play to their advantages in accelerating market development…As a market leader, LeadBest hopes to develop a deeper level of cooperation with offering platforms, accounting and law firms, government authorities, exchanges and underwriters to jointly build a sound ecosystem.”

Polymath

Polymath is based out of Toronto, and was founded in 2017. Since inception, Polymath has gone on to be one of the companies most synonymous with digital securities.

Above all, Polymath works to provide the services needed for companies to launch their own security tokens. The company remains flexible in their offerings, through the use of multiple variants of the ERC-1400 token standard – each variant being tailored towards a specific sector.

While announcing the strategic partnership in Taiwan, Polymath VP of Business Development, Heslin Kim, spoke on the move. He stated, “Polymath is committed to building a universal STO platform that is accessible to everyone, and, as a result, we are the first to have successfully become a provider of complete technical services…This is a new market for us, so the collaboration with LeadBest can not only help us clarify market trends and policy direction, but also reduce the obstacles to market development.”

In Other News

Polymath has caught the attention of many lately. For example, we recently spoke on various exchanges adding support for the POLY token. There is no doubt that we will be reporting on moves by Polymath again soon, as they continue to remain a leader within the sector.

Polymath  has gained the acceptance of exchanges and the blockchain community through partnerships such as the one described here today.

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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

Validity Labs Joins the International Token Standardization Association ITSA

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Validity Labs Joins the International Token Standardization Association ITSA

This week, the Swiss-based blockchain educational and infrastructure platform, Validity Labs confirmed the firm joined The International Token Standardization Association (ITSA). The decision to join the ITSA comes at a crucial stage of the EU’s STO regulatory development. The move demonstrates a further push for a more robust framework to support the expanding security token sector.

Validity Labs is one of the leading providers of blockchain-based decentralized applications in the region. The firm gained notoriety as an early mover when it entered the market back in 2015. At that time, the firm was the first blockchain education company in Switzerland.

Validity Labs – A Premier Blockchain Service Provider

Since then, Validity Labs assisted numerous developers and startups with educational and technical support. This support included hands-on workshops that covered a wide range of blockchain-related subjects. These topics include subjects like learning to program smart-contracts. Additionally, the firm provided educational classes for legal professionals, issuers, accountants and asset managers.

Today, Validity Labs is one of the premier platforms for blockchain-powered decentralized applications. Importantly, the firm now offers end-to-end STO implementation services with the goal to bridge the line between technology and legal compliance within the sector.

International Token Standardization Association (ITSA)

ITSA is a Non-profit German law association that specializes in token taxonomy. Token taxonomy is the identification, classification, and analysis of blockchain-based tokens. As such, the group is a leading voice for the promotion, development, and implementation of comprehensive security token market standards.

ITSA via Homepage

ITSA via Homepage

Token taxonomy continues to be a hot point of discussion within the market. Recently, regulators started prosecuting tokens that they believe violated the current securities laws. As more regulations come into place, a token’s classification can have a huge impact on the overall liquidity, profitability, and functionality a token possesses. Consequently, a token’s profitability depends on its classification in many instances.

ITSA Sees Growth

ITSA continues to see expansion in the EU market. To date, the firm includes some of the biggest names in both the finance and blockchain spaces. For example, the group already works with a host of universities including the Frankfurt School of Finance and Management, University of Mainz, TU Munich, and the UCL Centre for Blockchain Technologies in London.

Additionally, the group secured many important bank members over the last two years. These organizations include. Commerzbank’s Main Incubator, Bank Frick, MME, Börse Stuttgart, Bundesverband Deutscher Banken, and the German Investment Funds Association BVI).

ITSA Prepares for the Digitized Economy.

Importantly, ITSA provides startups with a plethora of helpful information. Startups can seek out support and know-how in the areas of blockchain-enabled solutions, decentralized applications, tokenization, and security token offerings. To date, the group already has helped startups SolarisBank, CryptoTax, and Ambrosus achieve growth.

Validity Labs – A Bright Future

The decision to join the ITSA was a smart maneuver. On top of all of the technical and legal support the firm now has access to, they also are a part of a huge network of blockchain professionals. This network will help Validity Labs achieve its lofty goals in the market.

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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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