The crypto project, Polymath, acquired the domain Tokens.com on Wednesday. This sparked speculations about its intentions of buying stakes into the real stock exchange. While the company has aimed at dominating the issuance of tokenized Securities, it has also signaled going beyond the mere acquisition of famous domain names.
Before announcing the acquisition of Tokens.com, Polymath revealed that it is in an advanced stage of acquiring a significant stake in the Barbados Stock Exchange while at the same revealed that it is closing a deal with the alternative trading system tZero.
The company believes that these partnerships will provide it with the platform on which it will create new tokens that will trade and basically dominate the expected transition of traditional equity into cryptos. According to Polymath CEO Trevor Koverko, these deals will come to fruition by early June this year.
Koverko has said that there is a possibility of security tokens liquidity crisis. Many of the issued tokens are now under a lockup period as demanded of by the US securities regulations. He further says that Polymath has built a system that will ensure that unaccredited investors cannot acquire the issued tokens. The system will thoroughly vet accounts that meet KYC and AML and also ensure investor accreditation thus validating the tokens on the system.
Polymath has partnered with SelfKey, IdentityMind, and Shyft as its KYC/AML partners. Using ST20 as the new system, the tokens will be issued on the Ethereum platform.
Polymath has just entered the crowded field of token issuance. On its part, it seeks to bring on board companies and guides them through the process of issuing a security token. This means that this platform will ensure that only companies with the strongest proposals will have access to elite consultants, legal counsel and possible investment from Polymath’s new security token fund.
The benefit of the crypto exchange is to see to it that a company pays tax only once, as explained by Gabriel Abed, founder of Bitt, a Caribbean platform for mobile money.
Koverko now anticipates equity and real estate to begin quickly moving onto the platform. According to him, people in the developing world and without local financial infrastructure will now have the opportunity to make investments too.