The United States Securities and Exchange Commission (SEC)
has registered Securitize, a digital securities platform backed by
crypto exchange Coinbase, as a transfer agent, according to a press release published on Finextra on Aug. 21.
Securitize — which claims to be the first transfer agent with a working blockchain
protocol and active securities issuers registered with the SEC — is now
able to operate as an official keeper of records about changes of
ownership in securities. Carlos Domingo, co-founder and CEO of
Securitize, said:
“We
can increase the amount of securities issued on the blockchain and give
comfort to people that this is a regulated space. [...] The SEC has
also started approving other types of exempted securities like Reg A+
and down the road those people will need transfer agents.”
Securitize fosters security token adoption
In June, Securitize partnered
with the Japan Security Token Association to promote the creation of a
security token ecosystem in the country. Their joint initiative
ostensibly aims to foster security token adoption in financial markets
by promoting practical use cases and clarifying regulatory and legal
frameworks.
This spring, Securitize announced
the launch of its Securitize Ready Program, which includes such
industry majors as Coinbase Custody, OpenFinance, Rialto Trading, CBlock
Capital and others.
The program allows clients to use the various
services offered by the partner firms to issue security tokens on the
Securitize platform, and purportedly makes it easier for organizations
to design and issue their own tokens.
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