American crowdfunding portal SeriesOne partnered with Polymath to enhance raising capital via its security token protocol.
United States-based crowdfunding platform SeriesOne has partnered with security token protocol platform Polymath, according to a press release published on March 19. The new partnership intends to create a digital securities offering ecosystem via the SeriesOne platform.
According to the press release, the partnership between SeriesOne and Polymath will let token issuers create and manage regulatory-compliant security tokens from the initial offering stage to trading on a secondary exchange.
SeriesOne CEO Michael Mildenberger expressed confidence that Polymath’s security token protocol, ST-20, is set to improve the process of raising capital on the platform.
Polymath’s ST-20 protocol is a token standard that is designed specifically for issuing and managing security tokens. ST-20 represents an extension of the Ethereum (ETH) blockchain-based ERC-20 protocol. Unlike ERC-20, however, ST-20 “embeds regulatory requirements into the tokens themselves, restricting trading to verified participants only.”
Polymath explains that its ST-20 standard is a solution to the problem of regulatory compliance when dealing with securities, since the protocol enables restrictions for policies such as Know Your Customer (KYC) and Anti-money laundering (AML). According to Polymath, ST-20 tokens are backward compatible with ERC-20, providing interoperability with most existing blockchain infrastructure.
The partnership was revealed just as SeriesOne officially announced that it is partnering with major South Korean crypto exchange Bithumb to build a digital securities exchange. The partnership was first reported in November of last year.
Visit the USSA News store!
Click this link for the original source of this article.
Author: Helen Partz
This content is courtesy of, and owned and copyrighted by, https://cointelegraph.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact the USSANews.com administrator by using the contact form located in the top-left menu. Your request will be immediately honored. Please visit https://cointelegraph.com for more terrific, conservative content. The owner of this website may be paid to recommend American Bullion. The content of this website, including the positive review of American Bullion, the negative review of its competitors, and any other information may not be independent or neutral.