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TokenSoft Announces Majority Stake in SEC-registered Broker-Dealer
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TokenSoft, one of the leading international platforms for compliant security token offerings, has just announced a major investment into a broker-dealer firm registered with the Securities and Exchange Commission. The broker-dealer will be renamed “TokenSoft Global Markets, LLC.”
TokenSoft is a company focused on fostering a vibrant ecosystem of compliant security token offerings, and they’ve taken concrete steps towards this vision with their most recent investment. In a press release made today, TokenSoft has announced that they have acquired a significant stake in a registered broker-dealer in the United States. The SEC-registered broker-dealer will be renamed TokenSoft Global Markets, LLC.
The approval for TokenSoft to further acquire 100% stake in the company is still pending regulatory approval.
A Significant Expansion
The investment signals a major expansion by TokenSoft to establish itself in the United States as a registered platform for security tokens. With the help of TokenSoft Global Markets, its services will be significantly expanded and will now include registered brokers, exchanges, custodial solutions, and other services. TokenSoft’s goal is to provide end-to-end support for the security token industry, from the beginnings of forming an STO to storing the security tokens securely.
Mason Borda, CEO of TokenSoft, commented on the announcement saying:
“As a result of rapidly growing interest in the security token market, we have been inundated with requests for broker-dealer support services that we historically have not been able to provide… We heard our clients, and now we’re answering.”
Borda has been outspoken in his view about security token platforms needing a process he calls “whitelisting” to confirm that only eligible users are holding the tokens.
In October, TokenSoft also announced their support for the Hyperledger Sawtooth, a platform for building and deploying distributed ledger systems.
About TokenSoft
TokenSoft, Inc. is a blockchain-based security token platform founded in San Francisco, California. They held their first seed funding in June of 2018. TokenSoft focuses on startups, funds, and established enterprises to assist them during the entire lifecycle of a security token: from its issuance to management to secure storage.
What are your thoughts on TokenSoft’s new investment? Do they have a significant advantage over their American competitors? Let us know in the comments below.
Image courtesy of TokenSoft.
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Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
