TokenSoft Announces Security Token Support for Transfer Agents
Updated: Mar 4, 2020
TokenSoft, Inc., a leading security token compliance and security platform backed by Coinbase, today announced the launch of its security token administrative panel, purpose-built for US Transfer Agents. TokenSoft clients will be able to select or partner with a Transfer Agent of their choice to issue and administer their security tokens. Using TokenSoft’s platform, Knox Wallet and security token standards like ERC-1404, Transfer Agents will be able to maintain and administer security tokens with the same controls and functionality as they do traditional securities.
“Since 2017, ensuring our clients can easily comply with securities laws has been our number one priority and that’s why today we’re announcing official support and a full set of features for SEC-registered Transfer Agents and their issuing clients,” said Mason Borda, CEO of TokenSoft.
“Transfer Agents are a foundational element of financial services infrastructure. It is exciting to see TokenSoft provide technology support to enable Transfer Agents to support blockchain-based digital securities,” said Jeff Bandman, CEO, BlockAgent Inc.
TokenSoft looks forward to enabling Transfer Agents to work with blockchain-enabled issuers of securities:
Transfer Agent-First Approach — The introduction of the blockchain to the world of securities introduced a level of uncertainty with respect to the compliant transfer of securities on the blockchain. Using TokenSoft’s platform, Transfer Agents can service blockchain-based issuers without sacrificing control.
Security-First Approach — TokenSoft was the first company to bring multi-signature, cold-storage technology to digital securities. Whether clients are servicing $20 million or $1 billion+ in market cap, they can rest assured that they’re using the most secure procedures and technology on the market.
Experience — With over 20 years of combined experience in blockchain technology, the TokenSoft team has the knowledge to support security token strategies today and as the landscape evolves in the future.
Using TokenSoft’s platform, Knox Wallet, and security token standards like ERC-1404 on Ethereum, and FA1.2 on Tezos, the company enables Transfer Agents to perform the following and more:
Manage Compliance — The TokenSoft platform enables Transfer Agents to authorize transfers of a security token between two approved parties such as transfers between only Reg S investors.
Manage Theft or Loss — Paper records reflect lawful ownership of a security. An investor may lose the wallet they have registered to hold the blockchain representation of the share; TokenSoft provides the Transfer Agent the tools necessary to correct any errors that may appear on the blockchain.
Real-Time Monitoring — The compliance requirements of a Transfer Agent and the associated issuer generally remain static, though the status of an individual might change. TokenSoft allows Transfer Agents to perform real-time monitoring and to gain peace of mind in an automated, periodic compliance review now possible through blockchain-based securities.
TokenSoft is proud to continue to provide technology at the intersection of blockchain and securities laws. This offering enables another layer of Wall Street infrastructure to become an integral part of the innovation happening with blockchain technology. If seeking to learn more, please contact us here.