Security Token Issuance Platform Globacap Partners with Archax
Announced early July 2019, Globacap has officially partnered with forthcoming security token exchange Archax. The deal will allow for security tokens issued through Globacap’s platform to be tradeable on Archax.
The Partnership Between Globacap and Archax Explained
The security token industry continues to grow in the United Kingdom.
Globacap is a regulated security token issuance platform based in London. They recently received Financial Conduct Authority (FCA) approval to be the first regulated security token platform in the United Kingdom.
Globacap’s platform handles regulatory compliance criteria such as investor KYC, investment collection, security token issuance, ongoing administration, and cap table management. The company claims the platform is pre-configured to comply with regulations throughout most countries in the world.
Archax— also based in London— is a developing security token exchange aiming for institutional grade capacities.
Now, the two have partnered to allow for security tokens issued via Globacap to be traded on Archax.
According to Globacap CEO Myles Milston,
“We are automating the process of raising capital by using technologies like blockchain to slash costs and simplify ongoing administration. With a high-profile client base and a growing pipeline of new prestigious issuances, we were keen to have access to a credible, institutional marketplace for secondary trading. Archax is credible throughout – from the team and advisory board behind it, to the systems and processes it is putting in place. This made them an ideal partner for us in this emerging space, and we look forward to working together.”
Graham Rodford, the CEO of Archax, also provided comments on the news:
“Our aim is to create the leading institutional exchange for the trading of digital securities globally. Consequently, we are keen to work with other leading players in this space and ensure we list the leading issuances too. Globacap are clearly a pioneer in the emerging ecosystem, having been responsible for a number of successful security token offerings (STOs). We are pleased to be partnering with Globacap and look forward to working together to help further establish the institutional infrastructure that is needed.”
What do you think of Globacap partnering with Archax? We’d like to know your thoughts in the comments section below.
Image courtesy of TheTokenizer.