Abacus, a young company that passed through Y Combinator this past summer, thinks its technology can make management of tokenized liquidity more efficient.
According to the picture painted by Abacus founder and CEO Pradyuman Vig, Abacus can both automate compliance for tokenized security transactions and keep track of the chain of custody of private securities, making it simple for the SEC, among other parties, to audit the entire history of these securities transactions.
Vig says that Abacus can facilitate the issuance, administration and settlement of tokenized financial instruments on the blockchain through smart contracts that it keeps track of via an on-chain storage layer.
The company’s goal, ultimately, is to make it easier to buy and sell private securities, as well as to make the process far more transparent. If it works, it could be a big deal, too.