The financial services platform OKTO announced a strategic partnership with the digital high-tech product development team at Jean Martin Inc. The partnership will help to further security token adoption in the coming months. OKTO currently offers businesses and individuals a suite of security token related products. According to OKTO CEO, Grace Schroeder, the strategic partnership will give the firm the tools needed to “better serve the surging demand” in the security token sector.
OKTO seeks to expand their reach in this growing crypto sector. Currently, the firm specializes in three distinct areas. Primarily, OKTO is a security token issuance platform. The OKTO security token protocol features full KYC and AML integration. Security token issuance platforms are on the rise. Already this year, multiple platforms entered the cryptospace offering such services. OKTO hopes to beat out the competition.
OKTO users also gain access to transfer agents. Transfer agents perform duties associated with sending or receiving security tokens. Unlike traditional utility tokens, security tokens can’t be sent to just anyone. Users must verify their identity before they can participate in a security token offering. Transfer agents are a critical component in this sector. They help users maintain their security token registration. This assistance helps investors when transferring their tokens across the growing number of security token oriented platforms.
In addition to these hands-on services, OKTO provides clients with tax accounting assistance. The platform automatically collects transaction data through the use of integrated API protocols. This trackability allows security token users to better manage profit/loss by providing a clear and concise analysis.
OKTO chose Jean Martin as their strategic partner because of the firm’s proven track record of success in terms of implementing new technologies. Researchers predict a huge spike in security token usage over the coming years, and company executives want to capture as much of this revenue as possible. In a public statement, company executives spoke on their decision to go with Jean Martin. The CEO of the firm called the partnership a “perfect fit”.
OKTO isn’t the only firm excited about the partnership. Jean Martin officials stated that the company is “delighted” about the partnership. The company’s head of Blockchain development, Hari Nott stated that the firm continues seeing increased interest in the security token sector and that his team has solutions to the most “pressing” problems facing the industry.
Jean Martin Inc. specializes in new technology integration. The firm strives to be on the cutting edge of technological advancements including AI, Data Science, Blockchain technology, mobile Apps, and the Internet of Things (IoT). In addition to these high-tech services, the firm also provides clients with more traditional digital products such as SEO optimization and digital analytics.
A More Secure Tomorrow
Security tokens offer companies the ability to utilize the benefits of blockchain technology for fundraising purposes. These tokens shift the paradigm of the cryptomarket into a more regulated space. These added regulations attract traditional investment funds, and many in the crypto space see this shift as the natural evolution of the cryptospace.
Leonovus pivots from ICO to STO for Galaxa project
Leonovus to Host STO
In a recent announcement, Leonovus has indicated that they have had a change of heart regarding their upcoming ICO. This change will see the company host a security token offering for their Galaxa project instead. This STO will see the issuance of GAXX tokens. The token will not only represent equity within the Galaxa project, but be used as a platform currency as well.
The original plan was to see Leonovus issue a contract that could later be converted into a security token. Upon conversion, the security token would represent equity within Galaxa. This method is known as a ‘Simple Agreement for a Future Token’ (SAFT).
Due to the rapid development being seen within the digital securities sector, Leonovus will now be selling security tokens directly. This is made possible by the launch, and planned launches, of various Security Token Exchanges (STEs). Due to these launches, GAXX tokens will now have a home to be traded on upon issuance.
Galaxa refers to a blockchain based, cloud storage platform that is being developed by Leonovus. The platform was announced in November of 2018. The GAAX tokens to be sold through the aforementioned STO will fund the continued development of this project.
At the time of announcement, Leonovus CEO, Michael Gaffney commented on the Galaxa project. He stated, “Galaxa is much more than most typical ICOs or STOs in that it will incorporate the Leonovus Smart Services blockchain innovation, along with a global enterprise-class marketplace that embeds Leonovus’ hyper-secure software-defined cloud storage technology which is in production today. The marketplace provides a platform for thousands of cloud services developers who are locked out of the current market because of the oligopoly. This is also great news for the enterprise as there will be more choice for cloud service products and less cloud vendor lock-in.”
Leonovus is based out of Ottawa, and was founded in 2010. Above all, Leonovus strives to provide storage solutions on an enterprise level. Leonovus is able to offer multiple variants of storage, ranging from on-site to cloud.
Leonovus CEO, Michael Gaffney, spoke on the decision to host an STO. He stated, “Security Token Exchanges did not exist in December 2017, which is why we chose the SAFT process at that time. Over the last few months, several third parties have launched STEs in various jurisdictions, and more are planned for launch in 2019 and 2020. Currently, we are reviewing the new STEs that are in the USA, Singapore, Switzerland and Malta. The development of STEs is welcomed as it simplifies the overall process regarding the listing and trading of the GALAXA security token on a regulated exchange. Because of the change in investment strategy, we are now targeting the end of Q1 2019 to close our first investment tranche.”
Issuance Receives Investment from MD of Slim Ventures
Issuance receives timely Investment from MD of Slim Ventures, LLC
It has just been announced by Issuance that they have received another investment. This marks one in a series of investments that have taken place over the past few weeks.
Mike Bishop was responsible for this move – the Managing Director of Slim Ventures. This is not Mike Bishop’s first foray in to the world of blockchain. For instance, he has previous experience in advising a variety of projects which have gone on to experience fantastic growth. One such example is the crypto-exchange, LAToken.
With knowledge gained through his past experiences in the blockchain industry, it is unsurprising to find that Mike Bishop has invested in Issuance. After all, they are shaping up to be a major player within the rapidly developing digital securities sector.
Mike Bishop JD, stated,
“Having acted as an advisor for several token offerings, I am particularly excited about the advantages that tokenized securities promise in creating liquidity to non-public investments, and with that, understand the importance of deal marketing to make liquidity a realization…As a deal marketing platform that connects and engages digital securities issuers and interested investors, Issuance is well-positioned to facilitate the exposure and investor pools necessary for tokenized securities to succeed.”
Darren Marble, CEO of Issuance, stated,
“We’re thrilled that Mr. Bishop has invested in Issuance…Mr. Bishop has been a proactive supporter in our mission, and his years of experience in business development and hands-on venture building makes him an invaluable resource as we scale our business.”
Slim Ventures, LLC
Slim Ventures was created with the purpose of providing a unique means of venture capital. Through offering ‘structured financing’ to start-ups, Slim Ventures has completed over $50 million in exits through a variety of industries. For example, these range from commercial and residential real estate, to veterinarian practices.
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, 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.
Issuance has demonstrated a flurry of activity in weeks past. Whether establishing strategic partnerships, or securing timely investments, Issuance has an eye on the future. Here are a few examples of recent developments from Issuance:
Digital Securities and Stablecoins to Benefit from ‘Wave of Innovation’
The Future is…
Fresh off the launch of their first marketing campaign, Cameron and Tyler Winklevoss recently sat down with ‘Balancing the Ledger’. In this interview, the twins discussed cryptocurrencies at large. The overall theme was regulation; what Gemini is doing to support it? and where is it needed?
Two areas in which the twins see much promise are stablecoins, and of course, digital securities. For example, speaking on the promise of tokenized securities, it was stated, “The ICO mania of 2017 – we kind of view that as the pets.com of the securities token world. They were unregistered and it was crazy town for about six months there. I think the next wave will see the real innovation, and the really interesting assets that become tokenized – like real estate, like buildings that are not currently really traded in liquid fashion. So that’s exciting.”
One interesting takeaway from the interview was the twins’ perspective on the relationship between stablecoins and digital securities. They noted that security token issuers could capitalize on the benefits of stablecoins, by using them to issue dividends.
Stablecoins are designed to inherently have less volatility than regular cryptocurrencies. By using them to issue dividends to token holders, issuers would be able to capitalize on the efficiency of a digital currency, while reducing exposure to volatility.
Regulation a good thing
Regulation can be a difficult balancing act between allowing innovation, yet ensuring safe practices. Despite this difficulty, it is still a necessity. Multitudes of investors have lost fortunes on un-regulated ICOs, as made evident throughout the last two years.
It is this very problem that has led to the popularity of the regulated digital security offering. The twins echo this sentiment, as seen in their marketing campaign, pushing for a regulated crypto.
The Gemini headquarters are in New York. The company was founded in 2014, and is a product of cofounders Tyler and Cameron Winklevoss. Above all, Gemini acts as both a custodian and exchange for digital assets. In the time since its inception, Gemini has taken a unique approach to growth, by embracing regulation from day 1.
When asked if Gemini would venture into other sectors, Cameron indicated a desire to expand into digital securities. He stated, “Virtual securities tokens is a real thing – and those sort of backed by real assets, there is a bright future there, and we may move into that.”
It is hard to find someone that hasn’t heard of the Winklevoss twins. They are Olympic Athletes, that have gone on to be wildly successful in the world of finance.
The brothers, Tyler and Cameron, are currently enveloped in advancing the world of blockchain. As they are believed to be one of the largest holders of Bitcoin in the world, this is no wonder. They closed out their interview by jokingly saying that ‘only Satoshi has more’.
To view the interview in its entirety, click HERE.
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- Leonovus pivots from ICO to STO for Galaxa project January 19, 2019
- Issuance Receives Investment from MD of Slim Ventures January 18, 2019
- Digital Securities and Stablecoins to Benefit from ‘Wave of Innovation’ January 17, 2019
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