In a recent announcement, KuCoin has informed its user base that it will be delisting various tokens from its platform. Among those being delisted are POLY. These are tokens native to digital security platform, Polymath.
Users of KuCoin have been informed that trading activity supporting these tokens will cease on February 3rd. For those that find themselves with coins being stored on the platform, KuCoin will facilitate withdrawals until May 3, 2019.
If you are reading this, and you have POLY tokens on KuCoin, remove your tokens while you still can.
Special Treatment Rule
The decision to delist POLY, along with various other tokens, comes after each was put on a type of probation. Otherwise known as the ‘Special Treatment Rule’. KuCoin lists 11 reasons why a token may find themselves put on probation, with the threat of being delisted. Here is an excerpt from their explanation of the Special Treatment Rule.
- Low liquidity for a certain period of time
- The project ceases or is likely to cease its operation or business activities for 3 months
- The project fails to inform KuCoin of its material change(s)
- Fails to cooperate with KuCoin for regular routine inspection
- There is a security issue about the project’s technology
- The project development is not carried out according to the roadmap planned in
the white paper, and there is no announcement of the progress on the project’s official website
- The project’s information disclosure is incomplete, misleading or untrue
- The project is insolvent or a step, order or proceeding for liquidation,
bankruptcy, insolvency or similar is taken, made or commenced against or in
relation to it or any material part of its assets
- The project or its team member (including but not limited to founders and
consultants) is under investigation for a suspected breach of, or is convicted for
an actual breach of, any applicable laws, statutes and regulations
- The project carries out market misconduct such as wash trading, market
manipulation or insider trading
- Any other situation KuCoin may deem risky for its users or platform.
While it is unclear which of these situations Polymath found themselves in, they find themselves getting delisted nevertheless.
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.
In Other News
Don’t let this article overshadow the progress that Polymath has been making in multiple months. Polymath recently found themselves being listed on both Bithumb and Poloniex, despite getting delisted from KuCoin. In addition, we recently detailed a partnership formation between Polymath and LeadBest. For more information on each of these events, check out the articles below.
REMCO Software to see Security Tokens Listed on LATOKEN
REMCO Software is in the midst of completing a ‘security token offering’. As you may know, this refers to a crowdfunding campaign tailored towards accredited investors. During the offering, investors are able to purchase digital securities in the form of a token, typically representative of equity shares within the issuing company – an efficient merger of traditional and future finance.
Recently, REMCO announced good news, as they have secured an agreement that, once issued, will see their tokens listed for trading on the LATOKEN platform. By providing a flexible listing platform, LATOKEN will enable investors to easily trade between REMCO tokens and FIAT currencies. The ability to do so is expected to result in new-found levels of liquidity, not normally witness when dealing with such assets.
In their press release, representatives from both REMCO and LATOKEN spoke on the agreement, and what it means for the industry.
“We are especially pleased to welcome REMCO token in the pool of our future projects. Their business model is both practical and very innovative. It brings a great deal of added value to the industry.”
“LATOKEN’s innovative approach appealed to us…There are many crucial steps to getting this business off the ground, and we appreciate reaching this milestone with LATOKEN.”
REMCO is a young company looking to revolutionize the remittance industry. They intend to do so, by utilizing traits inherent to blockchain technology that will allow for greater transparency and efficiency in finance. They were founded in 2018, and are based out of Laurel, Maryland.
Company operations are currently spearheaded by CEO, Peter Ojo. Under his watch, the company hopes to successfully complete a security token offering, which will facilitate their envisioned future.
LATOKEN refers to ‘Liquid Assets Platform’. Founded in 2017, CEO, Valentin Preobrazhenskiy, has guided the platform into becoming a promising player within the industry. As their name implies, the platform aims to bring liquidity to a variety of assets. Through their FIAT gateways, they have now begun to attract the attention of companies, such as REMCO.
In Other News
While this is the first time that each of these companies have graced our headlines, there is no shortage of news in the industry. Here is a brief look at a few articles detailing recent partnerships, and industry developments.
Magic BlockchainQA to Collaborate with Securitize
It was recently announced by Magic Blockchain QA, that they have established a working relationship with industry leader, Securitize.
The nature of this relationship will see each company refer clients to the other. They are essentially building bridges, which will provide clients with a greater variety of integrates services.
In addition to client referrals, this relationship will see Magic BlockchainQA offer their quality and analysis services for the DS-Protocol. This protocol was custom built by Securitize to fit the needs of the digital securities industry. Through its implementation, clients are able to sell, create, issue, and manage digital securities backed by a variety of assets.
This development is reminiscent of one that occurred just recently. At that time, we reported on a similar relationship between DESICO and Securitize. As stated, these types of relationships are key to ensuring steady growth in the relationship. At this stage in the game, what is good for one player is good for all players.
Anuraj Soni, President of Magic Blockchain QA, took the time to address this development.
“The Securitize platform has gained significant prominence in last few years and this partnership allows Magic to train its consultants on this platform enabling Securitize clients easy access to a pool of Magic consultants who can help with the seamless adoption of this platform.”
Magic BlockchainQA touts themselves as the world’s first quality and analysis services dedicated to blockchain applications. Check out the following video to learn more about why this is an important and needed service.
This young company was founded in 2018, and is based out of New York City. Company operations are overseen by President Anuraj Soni. He boasts years of experience in leadership roles at companies like Bank of America, GENPACT, and other.
To date, Magic BlockchainQA has established partnerships with not only Securitize, but MythX as well.
Since commencing operations in 2017, Securitize has developed a tech-stack that allows for them to offers clients end-to-end tokenization services. These services range from token creation, to issuance, and lifetime management post distribution.
In Other News
To learn more about the companies discussed here today, make sure to check out a few of the articles below. While this is the first time we have detailed Magic Blockchain, Securitize is a regular on our newsfeed.
Blockchain Identity Firm WISeCoin Announces STO
The Swiss-based cybersecurity firm, WISeCoin announced plans to host an STO in Q2 2019. The announcement has captured the attention of analysts and follows the receival of a “no-Action Letter” from the Swiss Financial Supervisory Authority (FINMA). The move marks another step forward for the Swiss security token market.
WISeCoin is a subsidiary of WISeKey. WISeKey created the WISeCoin platform to furhte3r pursue their blockchain identity strategy. Speaking on the decision to host an STO, WISeKey CEO, Carlos Moreira, discussed how his platform utilizes a wide-range of “blockchain enabled microchips” to provide clients with a customizable identification system. He also touched on the importance of increasing your digital identification procedures to adapt to the “evolving device landscape.”
WISeCoin developers seek to revolutionize the world of digital identification via the integration of IoT, blockchain, and AI. The concept is anything but simple. WISeCoin integrates a host of proprietary technology to merge seamlessly merge these sectors. Here’s how the system functions.
Blockchain of Identity
Blockchain identification systems are nothing new to the sector. The ability to verify, authenticate, and securely manage digital identities via the blockchain continues to drive more firms into this business model. What makes WISeCoin different is their approach to the problem.
WISeCoin developers decided to leverage the immutable nature of blockchain technology by pairing it with the Internet of Things (IoT). The IoT is the network of billions of smart devices currently entering the market. These items are able to monitor and communicate with each other.
To put the scope of this network into perspective, there were 15.4 billion smart devices connected in 2015 according to IHS reports. Intel plans to expand that network to 200 billion devices by 2020. Of these smart devices, wearable units are the fastest growing. IDC forecasts predict a 31 percent increase in this sector by 2020.
As you could imagine, leveraging these devices is an extremely powerful way to monitor, verify, and authenticate people, or items. In order to accomplish this monumental task, WISeCoin developers employ “Root of Trust” RoT and PKI protocols. RoT protocols provide secure authentication across both digital and physical environments.
WISeKey International Holding Ltd.
The world of AI, IoT, and blockchain are destined to play important roles in the future. WISeKey combines the best attributes of these advanced sciences. The firm is sure to see continued success in the coming months as their STO approaches.
- Malta AI & Blockchain Summit handing out 100 free booths to startups
- London’s Blockchain Conference; Blockchain Expo Global Exhibition announces expert speakers
- South East Asia’s Mega Blockchain Conference – Interview
- Malta AI & Blockchain Summit throwing massive show in May, 2019
- 2019 Blockchain Convergence Summit : Chain Plus+ Kicked Off with Great Fanfare… Attended by All Major Blockchain Investors
- Globex Licences ATS Platform to First Growth Funds Limited February 15, 2019
- REMCO Software to see Security Tokens Listed on LATOKEN February 15, 2019
- Magic BlockchainQA to Collaborate with Securitize February 14, 2019
- Blockchain Identity Firm WISeCoin Announces STO February 14, 2019
- Singapore Halts STO for Regulatory Breach February 13, 2019