U.S. headquartered cryptocurrency exchange Coinbase backed security token startup Securitize, a compliance platform and protocol for digitizing securities on the blockchain, has launched a referral network of sorts to support companies issue and manage digital securities.
The “Securitize Ready Program” was announced by the company on Tuesday, 9 April 2019. The program incorporates services from different partners including Coinbase Custody, Rialto Trading, trading platforms OpenFinance as well as private investment group CBlock Capital. According to the official report from Securitize, more partners are expected to join the Securitize Ready program in the future.
The program targets to help the clients of these partners including advisory firms, broker-dealers, and lawyers to issue and handle security tokens on the platform within the compliance, the startup revealed.
Head of the program Steven Lucido said in a press release, “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.”
According to the press release, the firm further explained that the Securitize platform and its digital securities protocol maintains regulatory compliance during secondary trading and facilitates “automated” options and characteristics such as share buy-backs, dividends and voting.
Securitize further shared that it has already enabled digital securities sales for companies such as Augmate, 22x, SPiCE VC and Blockchain Capital’s BCAP security token.
In February, Securitize, security token startup, partnered with OTCXN, a blockchain infrastructure company to develop and provide a digital security offering service. Under the partnership, the two firms will support other firms tokenize and sell securities by merging Securitize’s securities compliance platform with OTCXN’s custodial ledger system.
Also, earlier this year, the firm unveiled that it's one of 10 companies to join the IBM Blockchain Accelerator program.
According to the reports, Co-founder and CEO of Securitize, Carlos Domingo said that their "goal is to build the world's first debt issuance platform with blockchain technology in 2019."
He further added that with the help of IBM, the firm aims to modernize $82 trillion dollar corporate debt market.