The Bitcoin and blockchain technology company, Blockstream, has announced the coming release of its new Liquid Securities platform for issuing and managing security tokens on its Liquid sidechain. It was disclosed on the final day at the Consensus 2019 conference. This marks the first Liquid-based product to be launched by the company, and is a “major step in commercializing the fast-growing inter-exchange settlement network”.
Liquid is an inter-exchange settlement network linking cryptocurrency exchanges and institutions around the world, enabling faster Bitcoin transactions and the issuance of digital assets. The platform will provide Liquid and its users with its first product to issue digital assets.
The platform will initially launch with four partners: online investment platform BnkToTheFuture, multi-blockchain issuance platform TokenSoft, Zenus Bank, an American bank that allows individuals and companies worldwide to open accounts remotely and Pixelmatic: a Shanghai-based game development studio led by Samson Mow.
“Businesses around the world are racing to take advantage of the tokenization of securities,” said Samson Mow, CSO of Blockstream. “Unfortunately, blockchain platforms like Ethereum are failing them due to issues with scaling, privacy, and reliability. Liquid was built to address these issues. Now, with the launch of Liquid Securities, businesses can quickly issue Liquid-based security tokens with the click of a button, and establish sophisticated rulesets to conform with their regulatory requirements with no engineering experience required”.
Financial Institutions Want Privacy And A Scalable Solution
Mason Borda, CEO of Token Soft said: “We’ve been speaking to financial institutions for the past year and one thing that was very common in the requests they give is that they’re looking for being able to move assets privately, they’re looking for a scalable solution as well”.
“This is a completely new field, so building security token applications should be engineering-intensive work,” said Simon Dixon, CEO of BnkToTheFuture. “Liquid Securities instead provides us with everything we need to get going out-of-the-box, helping us to get our token issuances to market faster. The fact that Liquid is built by one of the most accomplished teams in the Bitcoin industry gives us even more confidence in the service’s future”.