Funding Platform SeriesOne Collaborates With Polymath to Utilize Security Token Protocol March 21, 2019 March 21, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsMarch 21, 2019 by Kelly Cromley

Funding Platform SeriesOne Collaborates With Polymath to Utilize Security Token Protocol

SeriesOne, a US-based crowdfunding platform, has joined hands with Polymath, a security token protocol platform to develop an ecosystem that supports digital securities offering through the SeriesOne platform.

The collaboration between SeriesOne and Polymath will allow those who issue tokens to develop and administer legally conforming security tokens in all the stages including initial offering and listing on a secondary exchange.

Michael Mildenberger, CEO of SeriesOne, expressed optimism about the safety token protocol of Polymath, ST-20. He said that the protocol will enhance the procedure of raising funds through the platform.

The ST-20 protocol of Polymath is a token yardstick particularly created to issue and administer security tokens. ST-20 is an offshoot of the Ethereum (ETH) blockchain based ERC-20 protocol. However, contrary toERC-20,ST-20 “incorporates regulatory requirements into the tokens themselves, limiting trading to only verified participants.”

Polymath describes that its ST-20 standard is an answer to the issue of legal compliance while handling securities, as the protocol allows for policy limitations such as Know Your Customer (KYC) and Anti-Money Laundering (AML). ST-20 tokens are reverse compatible with ERC-20, according to Polymath, which provides interoperability with many other prevailing blockchain frameworks.

The joint venture was disclosed just as SeriesOne confirmed that a digital securities exchange would be built in collaboration with main South Korean crypto exchange Bithumb. The collaboration was initially reported last year in November. Blockchain security company and wallet service BitGo recently announced backing for theERC-20 security token BCAP from Blockchain Capital, unveiled in April 2017 through a $10 million initial coin offering.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.