Enterprise-focused blockchain company Stratis on Thursday announced the launch of its security token offering (STO) platform.
Per the company, this will allow businesses to raise capital by issuing legally permissible, asset-backed securities on the Stratis blockchain.
The United Kingdom-headquartered platform is also boasting the compliance of the new platform with the regulatory requirements for anti-money laundering (AML) and know-your-customer (KYC) and also stressed on the compliance with the regulations of the United States’ Securities and Exchange Commission (SEC).
The company already operates a platform for initial coin offering (ICO), and the new STO service is an extension to that.
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Mentioning the new platform, Chris Trew, chief executive of Stratis, said: “We are delighted to launch our STO platform, one of the key milestones of our 2019 Development Roadmap. The STO platform builds on the functionality of the Stratis ICO platform with the addition of several new features that satisfy the rigorous regulatory requirements needed to conduct STOs. Our STO Platform is highly secure, flexible and scalable, making it easy for businesses of any size to raise money through the tokenization of their assets.”
STO – the next big thing in blockchain?
Stratis also detailed that it developed the platform using C# and the .NET Core. The STO platform will accept payments in both fiat and digital currency, but the support will be limited to the US dollar, Bitcoin, and the platform’s native token STRAT.
In addition, to add an additional layer of security, the platform will use wallets rather than autonomous smart contracts.
The announcement also revealed that as the first STO on its platform, it will list GLU token next year, which is currently fulfilling legal issues with the SEC.
Meanwhile, many major crypto players are also diving into the STO arena, which seems to be very lucrative. In October, Black Manta Capital and Tokeny joined forces for the development of a similar platform for the European markets.