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Securitize, a compliance platform for digitizing securities on the blockchain, has joined the IBM Blockchain Accelerator program, Forbes reported.
Founded in 2017, Securitize is a compliance platform and protocol for issuing and managing digital securities on the blockchain, including dividends, distributions, and share buy-backs.
In November 2018, the company raised $12.75M in funding led by Blockchain Capital, and joined by Coinbase Ventures, Global Brain, NXTP, OK Blockchain Capital, and Xpring at Ripple. Securitize said at the time that it plans to launch a Digital Security Offering (DSO) in 2019.
Carlos Domingo, co-founder and CEO of Securitize, said that the company aims to “build the world's first debt issuance platform with blockchain technology in 2019” with the objective of transforming the $82 trillion corporate debt market using blockchain technology.
Domingo further revealed plans to integrate Hyperledger into the product design of their platform, which will enable debt issuance on the blockchain.
Last November, IBM, in collaboration with Columbia University, announced two accelerator programs for blockchain startups. The IBM Blockchain Accelerator targets later-stage growth companies that are focused on building out an enterprise business network and client base for their blockchain application.
The three-month program will include a Blockchain Architecture workshop and offer an opportunity to work with the IBM team and external mentors, Domingo explained. At the end of the program, Securities will demonstrate its platform, explaining its vision and what it seeks to offer to potential customers.
In addition to Securitize, other companies selected for the accelerator program include Lucidity, TigerTrade, Phunware, Connecting Food, Ferrum, Bandwagon, IPwe, MetaMe, and Credly.
"As the leader in enterprise blockchain, IBM is proud to welcome Securitize and nine others to the inaugural IBM Blockchain Accelerator program," said David Post, managing director at IBM Blockchain Ventures. "The participants have been chosen for their promising use cases and dedication to building scalable blockchain networks that have the power to transform existing business processes."
