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.
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.”
Company operations are spearheaded by CEO, Arnoldas Nauseda.
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.
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