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TokenSoft announces ‘Knox Wallet’ – A Mobile Custody Solution for Security Tokens

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TokenSoft announces 'Knox Wallet' - A Mobile Custody Solution for Security Tokens

Announcement

TokenSoft has been off to the races in 2019. Today, the ambitious company announced the beta-launch of their newest service – a mobile custody solution for digital assets, including digital securities. This service is known as the ‘Knox Wallet’. It should be noted that this is a beta-launch.

This custody solution comes on the heels of another recent custody announcement by TokenSoft, which will see them refer Coinbase as a third-party custody solution to their clients.

Knox Wallet

The wallet represents one of the first mobile, cold-storage solutions for securing digital securities. Much of the draw towards digital securities is security.  As a result, it should come as no surprise that this played a key role in product development.

The Knox Wallet supports various levels of security

  • Offline Cold Storage
    • Store keys offline, away from damaging malware
  • Role-based Access Control
    • Multiple levels of verification needed to approve transactions
  • Cryptographic Authentication
    • Access restriction through encrypted authentications

The role of this wallet is quite complimentary to other services offered by TokenSoft. As the company offers end-to-end solutions for clients wishing to tokenize, TokenSoft can now offer these same clients a sound custody solution.

With this development, TokenSoft has the ability to sell, issue, manage, and now store digital securities. This is all while utilizing their very own token protocol, ERC-1404. The wallet also supports other security token standards.  For example, these include Harbor R-Token, Securitize DS-20, Polymath ST-20, and more.

For more detailed information on the Knox Wallet, make sure to read the TokenSoft Knox Wallet FAQ.

Commentary

TokenSoft CEO, Mason Borda, commented on the release of the Knox Wallet. He stated the following,

“As real-world assets enter the blockchain world, it’s important to protect them with the same level of security we treat traditional digital assets…We see this of critical importance given that almost $1 billion of cryptocurrency was stolen by hackers in the first three quarters of 2018 alone.”

TokenSoft

Based out of San Francisco, California, TokenSoft finds itself as a leader within the digital security sector. Catering to customers like Andra Capital, Hedara HashGraph, and more, TokenSoft specializes in blockchain solutions. Above all, they provide customers with the platform and services needed to issue and manage digital securities.

Company operations are overseen by CEO, Mason Borda. At TokenSoft, he has effectively used experienced gained at other blockchain companies such as BitGo, to create the promising company being discussed here today.

In Other News

In past months, we have detailed TokenSoft a variety of times. While the company has shown no signs of slowing down in the future, here is a look at a few of the articles we’ve written in the past:

TokenSoft Global Markets adds Coinbase Custody, expanding Security Token services

TokenSoft Extends Reach with ‘Global Markets’

ERC-1404 : TokenSoft Launches New Security Token Standard

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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

Blockpass to Offer Onboarding Services to Polymath Clients

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Blockpass to Offer Onboarding Services to Polymath Clients

Strategic Collaboration

Polymath has recognized a need for providing its clients with access to regulatory compliant investor onboarding services. Seeking a provider, they have now announced an alliance with Blockpass.

This alliance will see Blockpass provide token issuer’s access to a growing pool of pre-verified investors. In doing so, potential issuers can rest easy, knowing that their offerings only provided to appropriate investors. This means that these pre-verified investors have already undergone KYC and AML measures, ensuring they are accredited.

The goal of this move is simple – lower barriers of entry to the issuance of digital securities. By providing access to services rendered by Blockpass, potential token issuers can remove one more thing off of their lengthy token-issuance checklist. Blockpass grants access to its services through AP, making the process even easier and more attractive.

Commentary

Upon making their announcement, the CEO of each, Blockpass and Polymath, took the time to comment. The following is what each had to say on the matter.

Adam Vaziri, CEO at Blockpass, stated,

“This partnership is the latest step we have taken to streamline the painstaking and cumbersome process of onboarding investors. There are many synergies between Polymath’s proposition and our own, in that we are both striving to create simplified and compliant solutions.”

Kevin North, CEO at Polymath, stated,

“We are very excited to announce our collaboration with Blockpass…This represents our continued efforts to provide Polymath issuers with access to best-in-class KYC solutions like Blockpass.”

Blockpass

Blockpass is a Hong Kong, China, based company, which was founded in 2017. Above all, Blockpass works to provide the digital securities sector with solutions tackling regulations and compliance.

To date, Blockpass has already experienced minor adoption, as they have seen their services integrated with Infinito Wallet – bringing support for digital securities in the process.

Company operations are overseen by CEO, Adam Vaziri.

Polymath

Polymath is a Toronto, Canada, based company, which was founded in 2017. The company has established themselves as an industry leader through a variety of offered services. These platform services include specialized protocols, allowing for the issuance of customizable digital securities.

Polymath recently caught the attention of industry participants, as they announced the on-going development of a blockchain purpose built for digital securities. This blockchain is known as ‘PolyMesh’.

Company operations are overseen by CEO, Kevin North.

In Other News

Pre-verification of investors has become an increasingly popular option among industry participants. This is made evident through various established partnerships, beyond the one discussed here today. Here are a few examples of companies aligning their interests over the past few months.

Entoro to Act as Placement Agent in Upcoming Leonovus ‘Galaxa’ STO

Zapaygo STO to Benefit from Vertalo and DealBox Services

Ben Franklin Gives Access to ‘Go Philly Fund’ with the Help of Securitize

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Boston Security Token Exchange (BTSX) Seeks SEC Rule Change

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Boston Security Token Exchange (BTSX) Seeks SEC Rule Change

Development of the highly anticipated Boston Security Token Exchange (BSTX) continues as one of the partners behind this innovative concept, Box Exchange, filed for a rule change from the SEC this month. The 400-page filing seeks a change that allows BTSX to offer tokenized equities in the form of security tokens. If successful, BTSX would gain valuable positioning in the ever-expanding security token sector.

Boston Security Token Exchange Details

The BTSX exchange focuses on reducing the entry barrier for businesses seeking public funding. Respectively, the platform utilizes the Ethereum blockchain. This is a smart strategy because ERC protocol standards are the most popular type of security token issued. According to the BOX’s rule change request, the BTSX platform includes full automation via integrated smart contract protocols. Officially, the platform functions as a price time execution system for trading security tokens.

One Token to Rule Them All

Interestingly, the platform will not feature a multitude of security tokens from different providers. Instead, all trades occur in BSTX tokens. This strategy provides users with a couple of important benefits. For one, Users see a 20% reduction in listing costs. Additionally, this strategy allows BTSX to concentrated liquidity on a single trading center. Also, hosting and launching new projects is more cost-effective in this way.

BOX Technologies via Homepage

BOX Technologies via Homepage

BSTX Token

The BTSX token standard takes many attributes from the ERC-884 security token standard. Notably, BTSX tokens remain compliant throughout the token’s lifecycle. Interestingly, all trades must still clear through an “Approved Settlement Provider and the BSTX Participants.”

The Boston Security Token Exchange – BSTX

The BSTX platform is made possible through a strategic partnership between the BOX Exchange and Overstock’s crypto project, tZERO. Both firms are major players in the cryptomarket. Consequently, analysts predict BTSX will share in these firms’ growing influence. The BOX Exchange first raised eyebrows across the crypto space when it announced a partnership with tZERO on May 18th, 2018. The partnership gave both firms equal ownership and representation in BTSX.

Discussing the partnership, BOX CEO, Lisa Fall described why tZERO’s proven development track record was critical towards the success of the project. Fall also took a moment to touch on BOX’s past successes in the transparent equity options marketplace. She pointed out that, together, both companies can succeed where others failed.

No Reg A+

The filing pointed out some key restrictions the platform includes. For example, BTSX will not participate in any Reg A+ funding. Reg A+ funding has some additional flexibility that companies enjoy. For example, companies can “test the waters” before committing to their crowdfunding campaign when utilizing a Reg A+ strategy.

Importantly, the SEC has not approved any Reg A+ security token platforms to date.  BTSX is well aware of this fact and decided it was in their best interests to avoid the delays associated with attempting to get licensing for this type of public offering.

It’s Time

Now, BOX and tZERO look to combine forces to become a dominant player in the security token sector. Definitely, these firms have the experience and network to accomplish their goals in the coming months. Now, the ball is in the SEC’s court.

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BnkToTheFuture to Utilize Altcoin.io for Security Token Exchange

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BnkToTheFuture to Utilize Altcoin.io Tech for Non-Custodial Security Token Exchange

The popular decentralized exchange (DEX), Altcoin.io, announced the licensing of their proprietary trading software to BnkToTheFuture this week. BnkToTheFuture intends to utilize the software to create a non-custodial security token exchange slated for a 2020 release date. The move would place BnkToTheFuture in the exclusive class of non-custodial security token exchanges in operation currently.

Shared Vision

Discussing the strategic partnership, Altcoin.io CEO, Andrew Gazdecki, commended BnkToTheFuture for their decision to expand into the security token sector. He explained how BnkToTheFuture shares a common vision with Altcoin.io.

Notably, both firms seek to expand tokenization. Specifically, BnkToTheFuture seeks to tokenize the world’s capital markets. The CEO of BnkToTheFuture, Simon Dixon, also took a moment to speak on the maneuver. Dixon described why Altcoin.io was able to capture their attention. He took a moment to compliment the firm’s technical achievements over the last two years.

These achievements include being the first exchange to successfully complete an Atomic Swap. An Atomic Swap is a cross-blockchain crypto trade. Altcoin.io was able to trade Bitcoin for Ethereum utilizing this second-layer protocol in 2018. Today, the platform offers this service directly from its wallet.

Altcoin.io Track Record

Importantly, Dixon pointed to Altcoin’s proven track record to strict regulatory compliance. Compliance is critical when discussing tokenization of securities, equity, or real estate. These investment tools have specific regulations that vary depending on the investment status and the region.

Altcoin.io via Homepage

Altcoin.io via Homepage

BnkToTheFuture wants to leverage Altcoin’s smart contract technology to enable pre-programmed compliance into each token launched. According to company executives, the new security token exchange will feature a non-custodial layout. Non-custodial exchanges are seen by many as the natural evolution of the crypto exchange.

Altcoin.io Real Benefits

Non-custodial exchanges provide traders with the highest level of protection against hackers. In a non-custodial exchange, your crypto remains in your possession until the actual execution of the trade. This strategy is in stark contrast of centralized exchanges, which require you to load funds on to a custodial wallet.

Hackers

The problem with custodial exchanges is that because of the sheer amount of crypto these wallets hold, hackers find these targets to be profitable. How popular? According to one report, over $350 million in crypto has been stolen this year already. Non-custodial exchanges eliminate these losses.

Delays

Another huge benefit provided by non-custodial exchanges is the removal of withdrawal delays. Withdrawal delays are a major problem experienced by crypto traders. Basically, something happens that spooks the exchange. In turn, your funds are locked up until the exchange feels comfortable enough to give you access to your funds again.

Altcoin.io

Altcoin.io entered the crypto market in 2017. The company made headlines after completing a successful crowdfunding campaign in collaboration with www.wefunder.com.  Notably, the platform was among the first Peer-to-Peer DEX exchanges available to crypto consumers. Altcoin specializes in Ethereum complaint tokens. Most of these tokens are of the ERC-20 token standard. Ethereum is by far the most widely used token standard in the market today. As a result, Altcoin’s positioning in the market is ideal.

BnkToTheFuture Lives Up to its Name

BnkToTheFuture entering the security token sector in this manner is huge news. The firm has an uncanny track record which includes investments in Coinbase, BitStamp, Shapeshift, Ripple Labs, and Circle, to name just a few.

Now, the firm seeks to claim the title as the premier security token exchange in the market. Given BankToTheFuture and Altcoin’s experience, you should expect to see major developments from these firms in the coming months.

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