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Templum Continues Expansion

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Templum Co-Founder Vince Molinari

The financial technology company Templum continues to garner more market positioning. The firm offers the primary issuance and secondary trading of private digital securities. As part of this strategy, Templum recently hired Bernard Van der Lande as Chief Issuance Officer.

New Team Members

Van der Lande has the experience to take Templum to new heights. He is experienced in traditional, cross-border, and digital capital formation strategies according to a recent press release. Prior to his decision to join the Templum team, Van der Lande was the Managing Director of Easterly LLC, as well as, for CBRE Capital Advisors. His experience and network will prove to be priceless as Templum accelerates its strategy to match the growing market trends.

New Standards

In a past interview, Templum CEO Vincent Molinari explained that the firm seeks to create new standards across the digital securities sector. In order to accomplish this hefty task, Templum developers must help create new infrastructure for these securities, both legally and technically.

Interestingly, the firm petitioned the SEC in April 2019 to provide more clarity regarding mining activities and how they correlate to regulations regarding digital securities. The letter points out that miners, technically, are sending and preparing transaction confirmations when adding blocks to the blockchain. The company wants to ensure that miners are not violating current regulations because they are “effecting transactions.”

Templum Co-Founder Vince Molinari

Templum Co-Founder Vince Molinari

Private Blockchain

As previously reported, Templum partnered with the private blockchain development firm, Symbiont, to build a purpose built chain to handle the company’s growing concerns regarding scaling. Symbiont was a wise choice because the firm already has ties with Nasdaq and CitiGroup. Notably, both of these firms invested Templum during its ICO which raised $20 million.

Scalability Concerns

Originally, Templum allowed its users to choose the blockchain they wanted to launch their securities on. Consequently, problems began to arise when clients continued to choose high traffic blockchain such as Ethereum. The ERC-20 token standard is by far the most popular in the space.

Speaking on these concerns, co-founder, Christopher Pallotta, took a moment to explain why using public blockchains hinders the platform’s performance. He described how during times of mass congestion, trading is hampered. Specifically, he described how during Ethereum’s CryptoKitties craze, transaction delays occurred. A public blockchain can “slow down or stop capacity” during a ten million dollar transaction stated Pallotta.

Regulatory Concerns

Additionally, maintaining compliance is much more difficult on a public blockchain. Since anyone can utilize these blockchains, it’s nearly impossible to know who are the counterparties in your transaction. Obviously, this is a problem when you are dealing with regulated industries such as securities.

Templum Markets

Templum Markets entered the market in September 2017 as a blockchain-powered fintech company focused on secondary trading of digital securities. The firm is based out of New York with additional offices located across the Northeastern US. The company lists Christopher Pallotta and Vincent Molinari as its founders.

A Bright Future

Given the firm’s forward-looking stance and experience level, it’s easy to imagine a scenario where Templum becomes a major player in the digital securities arena. You should expect to see many more developments from this team as their platform steams ahead.

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David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.com

Security Token News

Prometheum Acquires InteliClear Post Trading Systems

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Prometheum Aquires InteliClear post trading solution

The popular security token exchange Prometheum announced the acquisition of the InteliClear clearing system this month. The addition places Prometheum as the front runner to be the first SEC-registered all-inclusive Alternate Trading System (ATS). The news showcases the growing competition in the sector and symbolizes a shift in strategies amongst the top exchanges.

An Industry First

Currently, no ATS has the ability to clear transactions in house. Traditionally, exchanges utilize a third-party clearinghouse to complete trades per the Security Exchange Act (SEA). This process adds time and additional fees to the transaction. Prometheum seeks to speed up the entire process via the InteliClear integration. Now clients can settle transactions in hours versus days.

A Milestone

Discussing the maneuver, Prometheum CEO, Aaron Kaplan called the acquisition a “milestone” for the security token industry. He spoke on why InteliClear’s system is an excellent addition to the company’s portfolio. Finally, he discussed the importance of Prometheum becoming the first end-to-end security token trading solution.

Prometheum

The Prometheum exchange entered the market with the goal to provide users with a complete ecosystem for tokenized securities. The New York-based firm was one of the first SEC approved tokenized securities platforms available to the public. The company originally filed with the SEC back in November 2017.

Prometheum via Homepage

Prometheum via Homepage

Today, the platform hosts some of the most notable security tokens ever launched including Lottery. The Lottery STO made headlines after providing investors an opportunity to participate in revenue derived from the company’s gaming platform for charitable fundraising.

InteliClear

Investors now gain access to more value after the InteliClear acquisition. InteliClear provides businesses with a host of helpful pre and post-trade services. The company uses a custom-built transaction engine that enables importation of trades and transactions from multiple sources. These turnkey and custom solutions enable businesses to fulfill their STO ambitions with the least amount of funding necessary.

The InteliClear system supports tokenized equities, options, fixed incomes, mutual funds, money/market products, and of course, tokenized assets. The global network is able to utilize a host of national currencies and can handle real-time, high volume, operations. The platform automatically calculates trade compression, fees, commissions, and billing to simplify the entire process for businesses.

Security Token Sector Gets More Competitive

The security token arena continues to see more competition develop. The recent SEC approval of numerous A+ filings enables platforms such as Prometheum to take its platform to the next level. Today, the number of security token exchanges in operation continues to expand at an impressive rate.  Already, the SEC approved Blockstack, the Props Project, and YouNow’s STO platforms this year. After taking over a year to approve some of these projects, the news is welcomed by the cryptocommunity.

Prometheum Leads the Race

Prometheum now has the tools and capabilities to take a strong lead in the developing security token sector. You can expect to hear more from this exchange as it continues on its STO launch course. For now, Prometheum is the only security token exchange to provide such robust functionality in the market.

 

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Security Token News

KoreConX Expands on Services Through POSConnect

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KoreConX Expands on Services Through POSConnect

Partnering

It was recently announced that KoreConX has established a new alliance with payment solution specialist and tech provider, POSConnect.

This move will also see POSConnect join the KorePartners – a grouping/ecosystem of companies, brought together to provide a comprehensive suite of services to clients.

Capital Markets

The alliance was undertaken with the goal of continuing development and functionality of the KoreConX capital markets platform. By integrating services provided by POSConnect, KoreConX will not only gain the ability to offer a secure payment solution, but build out their platform, aimed towards helping broker/dealers, and the management of security tokens.

Broker/Dealer

Broker/dealers continue to play a pivotal role in the digital securities sector. Recognizing this, we recently took a brief look at the various designations doled out to industry participants, and the services they offer.

Titles and Designations Among Industry Participants

Commentary

Oscar Jofre, CEO of KoreConX, stated,

“Our goal with building the KoreConX Capital Markets solution is to provide the much-needed infrastructure for the private company capital markets. We wanted to remove friction and fragmentation by bringing the tools necessary to one secure, user-friendly platform…We are thrilled to be working with a company such as POSConnect that not only provides the best technology but also follows the same governance standard that we do.”

Will Gravlev, President of POSConnect, stated,

“It is important for us to partner with companies that focus on offering the best solutions, and we believe that KoreConX is one of those. Their easy-to-use platform was created with the end-user always in mind, and the same goes for the solutions we offer.”

KoreConX

Founded in 2016, KoreConX maintains operations in New York. The company operates with the goal of providing a comprehensive grouping of services, aimed towards managing the core areas of a business. Through various established partnerships, along with the use of technologies such as blockchain, KoreConX is able to address a variety of needs, ranging from portfolio management, to cap-table management, and even investor relations.

CEO, Oscar Jofre, currently oversees company operations.

POSConnect

Acting as payment processing specialists, POSConnect is an established company, which maintains headquarters in Toronto, Canada.

POSConnect describes their core technology as a cloud-driven EMV/NFC payment solution, which was built with the intent of bringing new levels of efficiency to raising capital.

In Other News

KoreConX has been quite active over the past year, with their efforts resulting in multiple companies utilizing their services. Over the past few months, a variety of companies have decided to host a DSO through KoreConX. The following articles take a brief look at these announcements, and what to expect moving forward.

Libra to Utilize KoreConX in Upcoming Digital Security offering

MintHealth to Host Digital Security Offering through KoreConX

PCF Capital to Host $250 Million DSO through KoreConX

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Security Token News

Warner Music Invests in CryptoKitties Creator, Dapper Labs

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Warner Music Invests in CryptoKitties Creator, Dapper Labs

From Streaming to Blockchain

Warner Music Group has recently announced that they have invested in Dapper Labs. This investment, which came in to the tune of $11.5 million USD, was completed as Warner Music eyes new markets surrounding digital collectibles and non-fungible tokens.

In a digital world, where content pirating is commonplace, blockchain affords the ability to infuse digital content with pre-determined and ensured scarcity. As collectible markets are often driven by rarity, Warner Music believes that this move has potential to open new, lucrative doors.

CryptoKitties by Dapper Labs

If the name Dapper Labs sounds familiar, this is most likely due to the fact that they are the creators of CryptoKitties.

This blockchain based game became wildly popular in late 2017, as users worked to collect unique digital collectible kittens. Beyond its simple popularity, the game gained notoriety due to the fact that it, basically, stalled the Ethereum Network upon launch.

While the Ethereum network has grown stronger and more efficient in the time since, a simple game provided a stark reminder at the time that the blockchain industry was, and is, young and unproven.

Going with the Flow

The money being invested is intended to be used by Dapper Labs to create a new blockchain known as ‘FLOW’. This blockchain will be purpose built to handle applications such as CryptoKitties, and digital collectables.

SEC Approval

Investors in Dapper Labs, which now includes Warner Music, will be receiving traditional securities representing company stock. What is unique about the move, however, is the future ability to convert these securities to tokens, which can be used on the platform yet-to-be developed.

The way the deal is structured, for this to occur, the SEC will need to provide their approval. Time will tell if the SEC shares the views of Dapper, and agrees on whether the tokens represent utility tokens, or security tokens.

To date, while the SEC has cracked down on many past ICOs which sold tokens viewed as securities, they have recently shown a willingness to work with companies being forthright with their intentions. This was made evident, most recently, as BlockStack completed their own token generation event. This particular event saw the SEC approve the sale of tokens, which were described by BlockStack as utilities.

Commentary

In making their announcement, Jeff Bronikowski, VP of Business Development at Warner Music, took the time to discuss, with Forbes, their mindset. The following is what he had to say on the decision:

“When I was in college, you’d walk into someone’s room and you’d see 200 CDs and you would say, ‘That guy’s a big music fan.’ And now you just see somebody with a music subscription service and some playlists…We think that as people spend more time crafting their persona in the digital realm, digital goods and collectibles is a great way to express that fandom.”

Warner Music Group

Warner Music is a New York, New York, based company, which specializes in services surrounding the entertainment industry. From streaming services, to hosting a variety of record labels, Warner Music is all about helping artists, and delivering desired content to consumers.

CEO, Stephen Cooper, currently oversees company operations.

Dapper Labs

Founded in 2018, Dapper Labs is a Canadian company, which maintains headquarters in Vancouver, British Columbia.

CEO, Roham Gharegozlou, currently oversees company operations.

In Other News

The decision by Warner Music Group to enter blockchain is no surprise. Various subsets of the entertainment industry have dipped their toes into blockchain over the past year. Recently, this was seen through multiple partnerships involving film, and industry participants such as tZERO.

Tokenizing Film with BLOQ FLIX and tZERO

Atari Biopic to Undergo Tokenization through tZERO and Vision Tree

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