Securitize, a San Francisco-based startup, has announced in a press release on 9 April that it is all set to launch its Securitize Ready Program aimed at helping its partners in the integration of the firm’s cryptocurrency tokens compliance solutions.
The startup Securitize, backed by the cryptocurrency exchange Coinbase, assists other firms in creating tokens, or tokenizing their assets and securities. In November 2018, Securitize raised $13 million in a funding which was aimed for the project of the digitalization of traditional security products on a blockchain. In 2019, it again partnered with OTCXN, a blockchain company for the purpose of helping firms tokenize their assets.
Its new project includes prominent names like OpenFinance and Coinbase Custody among others as partners. With Securitize Ready Program, users would be able to use a number of services offered by them for the issue and management of tokens from Securitize:
“Securitize’s DS Protocol maintains compliance during secondary trading and enables automated features such as share buy-backs, dividends, voting, and more.”
Securitize Cryptocurrency Token Launch program Is Win-Win For Partners and Issuers
This program was headed by Steven Lucido who in the press release claimed that the program would be a ‘win-win’ for both the partners and the issuers:
“Securitize Ready frees partners to focus on their core business while providing their clients access to the industry’s most widely adopted issuance and lifecycle management technology. It represents a win-win for both partners and the issuers they work with.”
The program will make it easier for various firms to issue their own token, also making the entire process more efficient. Reportedly, Carlos Domingo, CEO of Securitize also commented that the startup aimed at creating a blockchain backed debt issuance platform.
Tokenizing assets and securities is a hot topic in the cryptocurrency community at the moment, and any company that helps others get involved in the blockchain industry is positive news for all.
There may come a time when many if not all companies operate with their own tokens and tokenised assets, and with startups like Securitize making that transition easier, the mass adoption of cryptocurrency and the spread tokenisation is becoming more and more imminent as each day passes.
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