SeriesOne says the new product enables issuers to create and to manage security tokens that are “compliant throughout their entire lifecycle”, from initial offering to trading on other exchanges at the issuer’s discretion.
The product aims to simplify the challenges of creating and managing security tokens. The new solution will be a critical component of seriesOne’s digital securities offering ecosystem.
Polymath wants to become ‘ethereum of security tokens’, according to its published strategy. The firm has already developed its own token standards to facilitate complaint trading. Last month Polymath carried out a test showing how a decentralized exchange could be set up to allow only authorised trades.
Dmitry Grinberg, seriesOne CTO:
“The token control layer that Polymath offers will be the future standard and we are excited to be working together”.
The ST-20 security token standard created by Polymath is an extension of the more generalized ethereum ERC-1400 standard with ability to restrict transfers of blockchain tokens.
Michael Mildenberger, seriesOne CEO (on the photo above) states, he is confident that using Polymath’s ST-20 protocol will “enhance the process of raising capital on our platform.”
In November 2018, seriesOne partnered with South Korean crypto exchange Bithumb to launch a compliant security token exchange in the USA.