STO technology platform TokenSoft is launching a regulated broker-dealer as part of its push to offer greater services to token issuers and startups.
The firm - which is known for assisting startups with token sale launches - announced the new regulated broker-dealer affiliate, called TokenSoft Global Markets, on Thursday.
With the regulated affiliate TokenSoft can now advise token issuers across every step of an initial coin offering.
In particular, said co-founder Mason Borda, having a broker-dealer license grants the company the ability to provide services that the original technology firm could not, primarily revolving around issuance and management.
Prior to acquiring the license, TokenSoft's customers would have had to coordinate with another firm or determine the appropriate steps themselves for some of the process.
To bring about the move, said Borda, the firm bought a 20 percent stake in a regulated broker-dealer called Marpine Securities LLC, which has now rebranded to the new affiliate.
Initially, the company plans to provide referral services to custody providers or exchanges, meaning the firm will help token issuers set up accounts and services with the providers.
TokenSoft Global Markets will be able to manage ICOs on issuers' behalf as well, with the company providing support for each stage of the process, on top of its existing compliance platform.
"TokenSoft brings a lot of technological expertise that's not on the market right now, when it comes to security when it comes to compliance. These are technological solutions that we've been able to build because we started very fast. We started on the right regulatory footing."
While TokenSoft Global Markets has had its regulatory approval since late October, it's spent the last few months building up the platform.
STO Services Startup TokenSoft Acquires Stake in Regulated Broker-Dealer
gepubliceerd op Dec 13, 2018
by Coindesk | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.