Among various small steps forward within the digital securities sector from this past week, was one bit of big news – Security Token Market planning for its own STO. The following is a brief look at a few of these events.
Polymesh Launch Imminent
First announced over two years ago, Polymesh is a marketed as ‘a blockchain for securities’. Polymath, the company responsible for Polymesh, has now indicated that the launch of this tailor-built product is imminent.
With most recognizing the massive growth potential behind digital securities, Polymesh is not the only tailor-built protocol geared towards the sector. In the past year, we have seen similar moves result in offerings such as Symbol. In each instance, users were required to swap out/migrate tokens from existing protocols for new ones associated with the new product. Polymesh is no different, with Ethereum based POLY tokens to be converted to Polymesh based POLYX tokens.
For those interested in Polymesh, a new website has just been launch, providing more in-depth details on the purpose and need for such a product.
Financial Infrastructure of the Future
A trio of companies have recently announced a new collaborative effort geared towards ‘building the financial infrastructure of the future by making investments more accessible to the world’.
MERJ – Global securities market focused on digital assets
Digital Markets – Bridging platform, connecting market participants to global marketplaces
Liquid Network – Settlement network for digital assets
With each member of the trio bringing unique capabilities to the table, a flexible and widespread offering will be made available. This is yet another example of companies beginning to establish the necessary framework for a future in which digital securities are common place on a global scale.
“We are excited to make the Liquid Network our preferred blockchain for IPOs and listings on MERJ…Issuers can now access and manage their share issuance on the Liquid Network and their exchange listing and trading on MERJ on our platform and investors can onboard from anywhere in the world directly through the issuer’s website with our technology. This collaboration is an important milestone in enabling efficient and compliant global digital securities trading for retail investors.” – Digital Markets Chief Executive Officer, Kyle Fry
Security Token Market ‘Testing the Waters’
As previously stated, the big news of the week was STM’s announcement that it intends to host an STO in the near future. This announcement was met with fervor, as investors flocked with excitement to show their interest. The result was hundreds of investors pledging in excess of $1.5 million within the first few days.
Notably, this event also marks the inaugural use of Securitize’s ‘test the waters’ feature, making it a landmark moment for both companies.