SeriesOne, a crowdfunding platform based in the United States collaborates with Polymath, a security token protocol platform, in order to create digital security offering ecosystem via the SeriesOne platform.
According to a press release published on March 19., the partnership between the two will allow token issuers to create and manage regulatory-compliant security tokens from the initial offering stage to trading on a secondary exchange. Michael Mildenberger, the SeriesOne CEO asserted confidence that Polymath’s security token protocol, ST-20, is set to improve the process of raising capital on the platform.
The said ST-20 protocol is a token standard designed specifically for issuing and managing security tokens. ST-20 represents an extension of the Ethereum (ETH) blockchain-based ERC-20 protocol. However, unlike ERC-20, ST-20 “embeds regulatory requirements into the tokens themselves, restricting trading to verified participants only.”
It is further explained by Polymath that its ST-20 standard is a solution to the problem of regulatory compliance when dealing with securities, since the protocol enables restrictions for policies such as Know Your Customer (KYC) and Anti-money laundering (AML). As per Polymath, ST-20 tokens are backward compatible with ERC-20, providing interoperability with most existing blockchain infrastructure.
SeriesOne also officially announced on 19th March, its partnership with major South Korean crypto exchange Bithumb to develop a digital securities exchange.
Thrilled to be partnered with @BithumbOfficial ( @Bithumb_Korea ) on our path to a digital securities exchange where once illiquid assets may now have a very different value proposition to investors #digitalsecurities #futureoffinance @coindesk https://t.co/xoafKxi4f2
— seriesOne (@seriesOne_info) March 20, 2019
Read more:Square Is Looking For Crypto Engineers, Offers Salaries in Bitcoin
Image Source – Seriesone Twitter
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