Polymath and KABN Announce Consortium to Accelerate the Creation, Distribution, and Management of Digital Securities Across Multiple Jurisdictions and Platforms

share save 171 16 - Polymath and KABN Announce Consortium to Accelerate the Creation, Distribution, and Management of Digital Securities Across Multiple Jurisdictions and Platforms

Polymath / KABN release | March 11, 2019

polymath and kabn - Polymath and KABN Announce Consortium to Accelerate the Creation, Distribution, and Management of Digital Securities Across Multiple Jurisdictions and PlatformsTORONTO & SAINT MICHAEL, Barbados & GIBRALTAR--(BUSINESS WIRE)--Polymath (www.polymath.network), the global leader in software solutions that enable assets to be digitized, distributed, fractionally owned, and ultimately liquidated, has formed a consortium in close collaboration with KABN (www.kabn.network), a global financial services platform that has developed, among its suite of products, a patent pending, blockchain based, GDPR compliant, Always On, global identification and accreditation as a support service for investors and other types of contributors.

Polymath is leading the effort to make it easier for organizations to create digital securities from traditional assets through partnerships and a community that supports a transparent and compliant process for issuers and investors. Through its extensive service provider network with firms like KABN, Polymath provides security token issuers with access to top quality service providers.

“Our solution supports the creation of digital securities from a wide range of traditional and non-traditional assets,” said Kevin North, CEO of Polymath. “The intention of this partnership is to create a best practice model for customers who need help with the full lifecycle of an STO (Security Token Offering). In this model, the issuer would work with an integrated network of providers who are committed to ensuring that offerings are compliant with securities laws, rules, and regulations across multiple jurisdictions and trading platforms, increasing the value proposition by reducing the distance and friction between investors and issuers. To date, the full STO path is not clear for most of our issuers, so we formed this partnership with the intention of making this a less daunting journey.”

See:  The Security Token Field – The Next Step After the ICO Annihilation?

KABN will also be the first organization to launch its digital securities offering using this process. More information about the KABN Security Token Offering can be found at: www.KABNtoken.com

“Working with Polymath, KABN supports the compliance requirements for digital securities with its Always On solution providing a faster, better and more economical solution for issuers and investors to validate and verify identity, KYC and AML, and manage liquidity programs,” said Ben Kessler, CEO of KABN. “KABN is also the first company to tokenize its company assets and create digital securities with this process, proving the model and paving the way for others to do the same in a manner that meets jurisdictional securities rules and regulations and supports a value proposition for stakeholders, the Blockchain community, issuers and investors.”

Polymath and KABN are receiving overwhelming support from the capital markets and blockchain communities as it introduces the framework to program partners to advance the creation of digital securities and make it easier for issuers and investors to interact through decentralized platforms globally.

Together with Pegasus Fintech (Gibraltar) Limited, a consultant organization, a consortium of Professional Service providers, Broker Dealers, Blockchain Developers, Exchanges, Authorized Agents and other Solution Providers have committed to supporting this process and the KABN Token offering. The initial parties committing their support to this growing consortium include:

Tokenise.io (UK) Global Blockchain Network (US)
MLG Blockchain (Canada) Evoke Capital (Canada)
Hyperion Technologies (US) Secure Digital Markets (Canada)
Hassans (Gibraltar) Digital Assets Management (Gibraltar)
Crypto SA (Australia) KABN (Gibraltar)
Ten Capital (US) Polymath (Canada/Barbados)
Razlin Capital (UK)

About Polymath (www.polymath.network)

Polymath Network (Polymath) is a decentralized platform that makes it easy to create security tokens. The platform simplifies the complex technical challenges of creating a security token and aims to bring the multi-trillion dollar financial securities market to the blockchain.

About KABN (www.kabn.network)

KABN, a integrated financial service platform offering neo banking type solutions, has received approval by Visa to launch its crypto-linked card and banking wallet program. KABN has partnered with Transact Payments Ltd, a European e-money institution and Principal Member of Visa, global processor GPS and platform technology provider Panovate to launch the program in the UK and subsequently the EEA in the 2nd quarter of the year.

Branded the Pegasus Flyte Visa card, the KABN card program offers an “on/off ramp” conversion process for a variety of cryptocurrencies to fiat together with multi-currency fiat transactions. Cardholders will be able to use their Pegasus Flyte Visa cards to spend in-store, online, and at ATMs wherever Visa is accepted globally.

The Pegasus Flyte program will also offer a robust loyalty and customer engagement platform. The anchor of the program is KABN ID, a Blockchain and biometrically-based, “Always On” validation and verification process. This patent-pending, GDPR compliant process allows for efficient and frictionless customer acquisition and onboarding.

About Pegasus Fintech (www.pegasusfintech.com)

Pegasus Fintech is a full-service Blockchain, technology and accelerator growth advisory that supports regulatory compliant programs and offerings.

source:  view release


NCFA Jan 2018 resize - Polymath and KABN Announce Consortium to Accelerate the Creation, Distribution, and Management of Digital Securities Across Multiple Jurisdictions and Platforms The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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ATB Financial (Government of Alberta) | May 23, 2019 Crowdfunding and Crowdlending platform Opportunity Notice and Information Organization: ATB Financial Organization Address: Reference Number: AB-2019-03314 Solicitation Number: 20.06 Solicitation Type: Request for Information Posting (MM/dd/yyyy): 05/15/2019 03:49:51 PM Alberta Time Closing (MM/dd/yyyy): 05/31/2019 02:00:59 PM Alberta Time Last Update (MM/dd/yyyy): 05/15/2019 03:49:51 PM Alberta Time Agreement Type: Non-Applicable Region of Opportunity: Open Region of Delivery: Alberta Opportunity Type: Open & Competitive Commodity Codes: T005A: Graphic Design Services - including website Preview the RFI --> here The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org ...
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The Next Web | Radek Zaleski | May 21, 2019 Are Europeans really coming? “The US market is vast. There are a lot of consumers in the US that use outdated technologies, and from that perspective we see huge potential here [in the US],” announced Nicolas Kopp, US CEO of N26, during a panel at Netguru’s Disruption Forum. Over the past few years, the fintech industry has started to prove that it can be a driving force to disrupt the financial services sector. Banks now have serious competition from tech-forward lending companies, transfer startups, personal finance and investment apps, and non-traditional banks. The majority of this activity has come from fintech companies in Europe. Why? See:  Canada’s financial upstarts are lining up behind open banking, but bigger players may need convincing Europe has led the charge in bridging the gap between older banking practices and rapidly advancing consumer technology. Some even estimate that these new challenger companies have taken up to one third (33%) of new revenue across the industry in Europe alone. When compared to the US, the difference is vast – the same report estimates that US fintechs have only captured just over 3% of the new revenue ...
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Financial Post | Bermuda Development Agency Release | May 15, 2019 NEW YORK — Bermuda highlighted its world-respected regulatory and legal framework for fintech business, as a delegation of government and industry experts returned for a second year to “Blockchain Week” in New York for Consensus 2019. Bermuda promoted its pioneering legal & regulatory framework for fintech startups during New York’s Blockchain Week, attending Consensus and an interview with @bloombergradio Premier David Burt, accompanied by Finance Minister Curtis Dickinson and Bermuda Business Development Agency CEO Andy Burrows, led a group of regulatory and industry representatives to the annual three-day midtown conference which attracted 4,500 attendees, including major sponsoring companies such as IBM, Deloitte, Microsoft, Citi, RBC and eBay. Along with a business development team from the BDA were Assistant Financial Secretary Stephen Gift, Chief Fintech Advisor to the Premier Denis Pitcher, and fintech experts from the Bermuda Monetary Authority (BMA), Deloitte Bermuda, PwC Bermuda, and global law firms Appleby, Conyers, and Walkers. See:  The Future of Government… in a Digital Age “Events like this are important because they bring a lot of the major players from well-established companies that are going to be the largest companies of the future,” said ...
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Koho Release | May 15, 2019 TORONTO, May 15, 2019 (GLOBE NEWSWIRE) -- KOHO announced today that it has closed a $42 million fundraising round led by Portag3 Ventures (“Portag3”), including Greyhound Capital and other strategic investors. The announcement comes as KOHO, a fintech company that offers Canadians an alternative to their traditional banking experience, continues to see rapid growth. In less than two years, KOHO has grown to over 120,000 accounts, moved their HQ to Toronto and released 43 new versions of the app. With over $500 million in annualized transactions and a KOHO card used every 4 seconds, KOHO has built a current account Canadians love (they boast a Net Promoter Score of 80 and App Store rating of 4.8/5 stars). “KOHO’s mission is to restore balance to Canadians by giving them control over their own finances. This new funding is both validation of what we’ve done and a vote of confidence for the work left to do,” said Daniel Eberhard, Founder and CEO of KOHO. Having raised $8 million from Portag3 in their Series-A funding round, KOHO is thrilled to continue the relationship with an investment from Portag3 Ventures LP II. See:  Banks’ Revenue Growth at Risk ...
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NCFA Canada | May 14, 2019 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep31-May 14:  Blockchain Law with Jason Saltzman About this episode: On this episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Jason Saltzman partner at Gowlings WLG law firm. They chat about how to make your ICO compliant, Blockchain in law and how to create a business structure.  Enjoy! HOST: Manseeb Khan, Fintech Friday's show host GUEST:  JASON SALTZMAN, Partner, Gowling WLG (Canada) LLP (Linkedin) BIO:  Jason Saltzman is a partner in Gowling WLG (Canada) LLP’s Toronto office practising in corporate finance and securities law, with an emphasis on securities offerings, mergers and acquisitions, private equity and venture capital transactions and regulatory compliance matters.  Jason assists issuers, investment dealers, investment portals and institutional and private investors on complex equity and debt financing transactions, ranging from start-up investments, venture capital and private equity investments, to larger public offerings and project finance.  Jason has taken numerous companies public on the TSX, TSX Venture Exchange and Canadian Securities Exchange by IPO, reverse takeover, capital pool transactions and direct listings. He also advises securities dealers, advisers, investment fund managers and other market participants in connection with their ...
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Forbes | Billy Bambrough | May 13, 2019 Bitcoin has been soaring over the weekend, boosting most major cryptocurrencies including ethereum, litecoin, Ripple's XRP, EOS, and bitcoin cash—and adding some $25 billion to the overall cryptocurrency market capitalization since Friday morning, taking it over $200 billion of the first time this year. The bitcoin price is now trading at a little over $7,000 per bitcoin, after beginning the year at under $4,000, taking the total value of all bitcoins over $124 billion and making up 58% of the broader cryptocurrency market cap. Over the weekend some major bitcoin holders, known as whales, moved a staggering number of the digital tokens, potentially pushing the market higher, with the single biggest whale moving 47,000 bitcoin worth an eye-watering $343 million, according to data from Whale Alert, which tracks big cryptocurrency moves. Bitcoin whales have traded around 100,000 bitcoin over the weekend, with a total value of some $670 million dollars. Most of the bitcoin whales have been moving their holdings out of major cryptocurrency exchanges, with just a few of the biggest transactions over the weekend involving cryptocurrency wallets moving bitcoin to an exchange. Large bitcoin and cryptocurrency transactions can prop up the market, with ...
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Coindesk | Yogita Khatri | May 10, 2019 Figure Technologies, a fintech startup founded by former SoFi CEO Mike Cagney, has closed a $1 billion “uncommitted” line of credit on a blockchain. Investment bank Jefferies and WSFS Financial Corporation, the parent of WSFS Bank, are the project’s participants, Figure announced Thursday. As part of the deal, Jefferies may periodically lend to Figure under a variable funding note, which is secured by Figure’s home equity lines. WSFS Financial is acting as trustee for Jefferies. Lines of credit have a maximum loan amount that can be borrowed as needed, paid back, and borrowed again. Figure’s financing facility is custodied on its own blockchain platform called Provenance, according to the announcement. See:  FaceCoin: Here’s What Facebook Could Build In Blockchain And Cryptocurrency The platform can support “the entire end-to-end financing of loans, from origination to funding to servicing to financing,” said Cagney, adding: “It paves the way for the first securitization on chain, which will demonstrate the massive cost savings, risk reduction and liquidity benefits blockchain delivers.” Brian McGrath, head of the securitized markets group at Jefferies, commented on using the blockchain: “We’ve gained full transparency into the underlying assets, real-time access to loan performance and ...
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PYMNTS | May 6, 2019 The suit can proceed. The news came Thursday (May 2) that, per a ruling in federal court in New York, the State Department of Financial Services can move forward with a suit that looks to derail national bank charters for FinTech companies. Judge Victor Marrero, presiding over the U.S. District Court for the Southern District of New York, said the case can proceed, a ruling that denied a dismissal of the suit requested by the Office of the Comptroller of the Currency (OCC). The New York department had argued that the OCC had stepped beyond its regulatory authority (and is misinterpreting the National Bank Act) when it had offered the “special purpose” charter in the middle of last year. The judge ruled that “such dramatic disruption of federal state relationships in the banking industry occasioned by a federal regulatory agency lends weight to the argument that it represents exercise of authority that exceeds what Congress may have contemplated in passing the NBA . Indeed, if DFS’ characterization of the impact is accurate – which the Court assumes, given the posture of this order … the OCC’s reading is not so much an ‘interpretation’ as ‘a fundamental ...
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Investment Executive | James Langton | May 7, 2019 Initial coin offerings (ICOs) can be an effective approach to start-up financing, argues a paper from the Bank of Canada. A new staff working paper from the central bank examined the ICO phenomenon that has emerged in recent years as a way for fledgling companies to secure early-stage financing. While the approach has attracted a fair amount of negative attention amid reports of failed and fraudulent offerings, the paper found that it can actually be the ideal way to fund a company in certain circumstances. Specifically, the paper looked at how the ICO structure impacts the incentives of entrepreneurs, compared with traditional debt and equity financing, and concluded that it can be the better way to finance a company. “Our results show that ICOs can have beneficial economic properties when compared with conventional financing strategies,” it said. “For certain projects, ICO financing generates a higher net present value than conventional modes of financing and is sometimes the only profitable form of financing.” According to the paper, the essential factor is that returns to ICO investors be based on a project’s sales revenue, rather than profits. See:  TokenFunder announces Canada’s first Security ...
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Coindesk | Nikhilesh De | May 7, 2019 Hackers stole more than 7,000 bitcoin from crypto exchange Binance, the world’s largest by volume, the startup reported Tuesday. Binance announced that a “large scale security breach” was discovered earlier on May 7, finding that malicious actors were able to access user API keys, two-factor authentication codes and “potentially other info,” the exchange’s CEO, Changpeng Zhao, said in a letter. As a result, they were able to withdraw roughly $41 million in bitcoin from the exchange, according to a transaction published in the security notice. The disclosure comes hours after Zhao tweeted that the exchange was undertaking “some unscheduled server maintenance,” writing that “funds are #safu.” After the disclosure announcement, Zhao tweeted that the exchange would “provide a more detailed update shortly.” See:  Binance Coin Burn Is Around The Corner – How The Coin Burn Works The exchange may not yet have identified all impacted accounts, he said. And according to Binance’s statement, the breach only impacted Binance’s hot wallet, which contains roughly 2 percent of the exchange’s total bitcoin holdings. “All of our other wallets are secure and unharmed,” he said, adding: “The hackers had the patience to wait, and execute ...
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Binance exchange hacked - Polymath and KABN Announce Consortium to Accelerate the Creation, Distribution, and Management of Digital Securities Across Multiple Jurisdictions and Platforms

 

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