Security token platform, Polymath, has reportedly partnered with digital securities fundraising platform, seriesOne, to give customers “end-to-end” solution for security token issuance.
Polymath and SeriesOne Partnership
The news was first announced by seriesOne yesterday via a press release. The company said the new product will allow issuers to create and manage security tokens that are “compliant throughout their entire lifecycle.” This means from the initial token offering all the way to trading on an exchange.
The aim of the partnership is to simplify the creation and management of security tokens. seriesOne believes that Polymath’s St-20 security token standard will become the industry-wide standard. As such they are going to partner with the company to make security token management easier.
SeriesOne is a securities issuance platform and as such can qualify for a number of securities exemptions in the US.
CTO of seriesOnes, Dmitry Grinberg, said the following:
“The token control layer that Polymath offers will be the future standard and we are excited to be working together.”
CEO Michael Mildenberger furthered that the partnership aims to reduce the “complex challenges” of creating and managing security tokens. The result will become a “critical” component of seriesOne’s digital securities offering ecosystem.
In using Polymath’s ST-20 protocol, the CEO believes the platform will generate more revenue.
Ethereum for Securities
According to its website “What Ethereum did for tokens, Polymath will do for securities,” in saying that the company is aiming to be like the Ethereum network but for securities.
Crypto News Desk
The company has its own token standards that facilitate compliant trading. In fact, its ST-20 security token standard is described as “an extension of the more generalized Ethereum ERC-1400 standard that introduces the ability to restrict transfers of blockchain tokens.”
What do you think about seriesOne partnering with Polymath?
Featured Image: DepositPhotos © AntonMatyukha
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