Polymath Selects CrowdEngine to Build Security Token Issuance Platform
According to a recent announcement, Polymath has teamed up with CrowdEngine to provide token issuers with a seamless solution for security token issuance.
Polymath and CrowdEngine’s Security Token Issuance Solution Explained
Over the last two years, CrowdEngine has provided token sale solutions throughout the fintech industry. The company supports offerings such as Reg. D, Reg. S, Reg. A+, and Reg. CF.
Now, they are partnering with Polymath to build a white-label issuance platform to enable Polymath issuers to quickly onboard investors for Security Token Offerings (STOs).
According to CrowdEngine, issuers will now be able to launch compliant STOs in a matter of weeks as opposed to months.
CrowdEngine CEO Jim Borzilleri said,
“Our partnership with Polymath supports our mission of serving the rapidly growing security token market and gives Polymath token promoters a proven, affordable path to launch. While we help ensure our clients execute compliant offerings, Polymath gives issuers the tools they need to easily issue securities on the blockchain and be secondary market-ready with the ST-20 token standard.”
The new solution will also provide Polymath issuers with their own branded token sale website, out-of-the-box functionality to include BTC/ERC-20 wallet address whitelisting, KYC verification in 190 countries, investor accreditation, document signing, and payment options such as BTC/ETH/USD.
The news comes as Polymath made recent headlines when they announced a partnership with Ethereum co-founder Charles Hoskinson to build a blockchain for the sole purpose of compliant security tokens. The majority of security token standards currently utilize the Ethereum blockchain, which Polymath contends was not purpose-built for regulations and compliance, but rather for ‘unstoppable applications’.
What do you think of Polymath partnering with CrowdEngine for a security token issuance solution? We’d like to know what you think in the comments section below.
Image courtesy of Polymath.