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Smartlands Releases Stellar Powered Wallet Supporting Security Tokens

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Smartlands Releases Stellar Powered Wallet Supporting Security Tokens

Wallet Solutions

Each day that passes, there is news about new security token issuance platforms and security token offerings. Something is missing though – where will investors store these tokens? Very few wallet solutions have been offered so far. Smartlands looks to change that, however, through the help of Stellar.

Smartlands will be using the Stellar blockchain to power their wallet, designed to safely store a variety of security tokens. In doing so, they are giving the power of custody back to investors, if they want it. In addition to supporting security tokens, this wallet can be used for SLT and XLM, as well.

For investors looking to utilize these services, they will need to pass AML and KYC checks – They are dealing with security tokens, afterall.

Use of the wallet has been tailored towards two subsets of the market – beginner traders and professionals. Users have the ability to toggle between two interfaces, tailored towards each camp. If desired, users also have the ability to partake in on-chain trading through this wallet.

Commentary

Ilia Obraztcov, CTO of Smartlands, took the time to comment on the development discussed here today. The following is what he had to say.

“Today we’ve finally managed to fortify our expertise to the extent that allowed us to build a new Smartlands wallet. It will be used for trading security tokens, SLT, and XLM…We are going to continue to work towards the possibilities of adding other security tokens issued on the Stellar network (possibly on different blockchains) to the Smartlands Wallet, though, certain additional compliance procedure will be required.”

Smartlands

Smartlands was founded in 2017, and is based in London, United Kingdom. The company functions primarily as a crowdfunding platform, utilizing blockchain technologies to tokenize a variety of assets.

Company operations are spearheaded by CEO, Arnoldas Nauseda.

Stellar

At the time of writing, Stellar is ranked as the 9th largest cryptocurrency per CoinMarketCap. This project was founded in 2014, by XRP co-founder, Jed McCaleb.

Stellar remains a non-profit organization, utilizing open-source technology to develop new means of efficient value transfer. This outfit has seen growing adoption in the world of blockchain, with adopters such as IBM, Maersk and more.

In Other News

While Stellar has been rising in popularity within the digital securities sector, Smartlands has been busy developing solutions of their own. Check out the following articles to learn a little bit more about what Smartlands and Stellar have been up to as of late.

Smartlands Acquisition Opens New Doors for Crowdfunding

Stellar Chosen by Wevest for Security Token Offering Platform

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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

Blockport STO Fails to Gain Traction – Platform to Shutdown

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Blockport STO Fails to Gain Traction - Platform to Shutdown

Failure to Launch

On a disappointing note, Blockport has announced the cancellation of their ongoing security token offering. After launching the event, roughly 1 month ago, the team has indicated that they have failed to attract their minimum threshold of investments.

This comes as a letdown to the industry, as Blockport represented one of the first security token offerings to be offered through the Tokeny platform. To date, only a handful of STOs have taken place through ANY issuance platform.

Future Aspirations

While Blockport will be returning investments to the few participants in their STO, they have indicated that this is not the end for them. Their intent is to scale back operations in the short term, reflect, and establish a path for future growth.

This means that the platform will be shutting down in the coming weeks, revering to a ‘development mode’.

Commentary

Blockport CEO, Sebastiaan Lichter, elaborated on the cancellation in a statement to the public. The following is what he had to say on the matter.

“In the past few months our team has worked extremely hard to launch the first round of our STO, and yesterday this ended after being open for almost one month…In short, the results of the fundraise are not sufficient to proceed with the issuance of BPS tokens.”

Despite this, Sebastiaan Lichter remained confident in the future of blockchain. He continued,

“We still see a lot of opportunities in this industry and have built a top performing trading platform that many people love to use and which has had almost zero downtime or issues since we launched it in the summer of 2018…Whilst developing our platform, our goal is to explore opportunities that support a restart of the Blockport platform in the future.”

BlockPort

Operating out of Amsterdam, Blockport is a Dutch company, which was launched in 2017. Under the watch of CEO, Sebastiaan Lichter, Blockport has developed and launched a trading platform, tailored toward, both, utility and security tokens.

The security token offering, discussed here today, was launched through the Tokeny issuance platform, on March 31st, 2019.

Tokeny

Tokeny is a Luxembourg based company, which was launched in 2017. Above all, Tokeny acts as an issuance platform, providing companies with solutions for the tokenization of assets. Tokeny was responsible for facilitating the Blockport STO – For their part, the event went off without a hitch.

In Other News

While the failed STO is an unfortunate situation, BlockPort is by no means alone. For a variety of reasons, there have been various deals to have fallen through in the past few months. The following articles detail a couple of these situations.

Harbor Cancels Convexity Properties STO

Due Diligence Process Delays tZERO Investment

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Security Token News

BitBond Opens Bounty Program for Live Security Token Offering

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BitBond Opens Bounty Program for Live Security Token Offering

BitBond Bounty

BitBond, a blockchain company hosting a FINRA approved STO, has recently announced the launch of a bounty program. This program was launched in an attempt to raise market awareness of their ongoing security token offering.

This STO, scheduled to be live until early June, has seen modest success thus far, with investors contributing over €2 million to date. This puts them well on their way to raising the minimum €3 million in the event.

In an attempt to ensure the minimum €3 million threshold is met in their STO, the bounty program consists of 6 main ways in which participants can be rewarded.

  • Hunter Bounty
    • Referrals leading to bounty program participation
  • Affiliate Bounty
    • 5% commission on referrals leading to investments over €10,000
  • Signature Bounty
    • Token compensation for active BitcoinTalk users which advertise the STO in their signature.
  • Creative Bounty
    • Rewards for creative advertising in the form of memes, gifs, images, etc.
  • Social Media Bounty
    • Compensation for STO promotion through qualified Twitter, Facebook, LinkedIn, and Telegram accounts
  • Content Bounty
    • Rewards for creation of articles, and videos, which raise awareness about the BitBond STO.

Bounty Programs

A bounty program is a promotional event, aimed towards raising awareness of a fundraiser. Participants in such programs are typically compensated for promoting a company with tokens. Promotional tasks are often varied, such as writing articles, attaining referrals, reporting bugs, and so on.

While bounty programs were commonplace throughout the ICO boom, the concept is new when being applied to security token offerings. Time will tell if this promotional tool is an effective one when dealing with this new form of fund raising.

Commentary

BitBond CEO, Radoslav Albrecht, commented to CrytoGlobe on the choice to host a bounty program. He stated the following.

“Since our launch in 2013 Bitbond has always worked closely with the crypto and blockchain community. This bounty program gives us the opportunity to engage further with our community, reward Bitbond early adopters and spread the news about our new groundbreaking project, the Bitbond STO.”

BitBond

BitBond is a Germany based company, which was launched in 2013. Above all, BitBond utilized blockchain to facilitate financial services. This primarily includes the issuance of business loans.

Company operations are overseen by Founder and CEO, Radoslav Albrecht.

We recently detailed BitBond and their FINRA approval – a feat not achieved by scores of applicants prior to BitBond. Check out the details to this success HERE.

In Other News

Beyond BitBond utilizing the Stellar blockchain for issuing security tokens, Stellar has experienced growing levels of adoption in recent months. The following articles demonstrate various ways in which this adoption has occurred.

Smartlands Releases Stellar Powered Wallet Supporting security Tokens

Stellar Chosen by Wevest for Security Token Offering Platform

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Security Token News

Poloniex Cleans House as Tokens Delisted for Fear of Being Called Securities

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Poloniex Cleans House as Tokens Delisted for Fear of Being Called Securities

Poloniex Delisting Assets

Poloniex has given unfortunate news to enthusiasts of various assets supported through their platform. The popular exchange has announced that, due to ongoing regulatory uncertainty, they will be de-listing a variety of assets.

This event is a precautionary one, as the possibility exists that the structuring of these assets would classify them as securities. Fearing retribution from the SEC, Poloniex has decided to play it safe, and remove their support.

Uncertainty Remains

While the portfolio of offered assets on Poloniex remains strong, this does not mean that other assets can rest easy.

It has been made known, by various industry participants, over the past few weeks that uncertainty remains pervasive in the digital securities space. This is largely, in part, due to a lack of clarity afforded by United States regulatory body, the Security and Exchange Commission.

Until the SEC is able to provide more detailed guidance on these digital assets, expect to see more de-listings, for fear of these being dubbed securities.

Down and Out

The affected assets in this announcement total 9, which each unique in their structuring and target markets. They are as follows,

  • Augur (REP)
  • Omni (OMNI)
  • Decred (DCR)
  • Game (GAME)
  • Ardor (ARDR)
  • Bytecoin (BCN)
  • Gas (GAS)
  • Lisk (LSK)
  • Nxt (NXT)

Commentary

In a statement to the public, Poloniex explained their reasoning for the delisting of various assets. The Poloniex team broke the news, to holders of these tokens, by stating the following.

“We are committed to complying with regulatory requirements in every jurisdiction. Today’s action is a result of regulatory uncertainty in the US market. Specifically, it is not possible to be certain whether US regulators will consider these assets to be securities.”

Despite this, the team continued, expressing optimism moving forward.

“We understand how frustrating this choice is for our customers, and for the crypto community more broadly. We believe in the power and potential of these assets, and will continue to focus time and energy on supporting positive policy and regulatory developments for crypto assets in the US and around the world.”

Poloniex

Poloniex is a Delaware based cryptocurrency exchange, which was launched in 2014. In the time since their launch, Poloniex has gone on to establish themselves as a leading exchange. Poloniex’s reputation has been strengthened in the past year, since being acquired by Circle.

Circle

Circle is a Boston based company, which made waves in 2018, when their $400 million acquisition of Poloniex occurred. In the time since this move, Circle has worked to bring Poloniex in line with regulations, building a strong reputation, and growing the platform at the same time.

In Other News

While this is unfortunate news for enthusiasts of the affected assets, Poloniex doesn’t simply have a habit of delisting. In previous months, we have noted their addition of Polymath and their utility token for use through their security token’s tailored services.

Security Token Platform, Polymath (POLY), Listed on Growing Number of Exchanges

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