Copy link
Increase text size
Decrease text size
Link copied

TokenSoft submits transfer agent filing to the SEC; Decision to arrive in 30 days

Security token firm TokenSoft has filed for the registration of a transfer agent to the SEC in its attempt to create an “automated investment bank.”

Image: Unsplash

Fri, 13 Dec 2019, 04:43 am UTC

Blockchain compliance firm Tokensoft has applied for a transfer agent to the Securities and Exchange Commission (SEC) in its bid to create an automated investment bank. Called DTAC LLC, the new subsidiary will be acting as a transfer agent for TokenSoft, fulfilling various obligations tied with the position, along with other unconventional tasks.

The SEC has accepted the registration but has yet to provide an approval for the filing. TokenSoft expects the decision to come down within 30 days, CoinDesk reported.

In general, a transfer agent’s role is to maintain the financial records of an investor and monitoring their account balance. It keeps track of transactions, cancels and issues certificates, helps with lost certificates, and several more investor-related tasks.

DTAC’s role

In the crypto scene, a transfer agent could also act as an aid for investors who lost their crypto wallet. TokenSoft CEO Mason Borda said that DTAC will be different since the transfer agent can “manage tokenized securities whose private keys are kept offline, in so-called cold storage.”

Cold storage – also known as cold wallets – simply means that crypto-assets are stored in an environment that isn’t connected to the web. Hardware wallets are the most common cold storage options out there, with Ledger Nano S and Trezor among the most used today.

All of this stems from TokenSoft’s desire to create a new version of Wall Street underwriters through its services and registration channels of DTAC.

“We’re building all the things you need for an automated investment bank DTAC can help companies go straight to IPO by managing shares on the blockchain. We do have all the pieces necessary,” Borda said.

TokenSoft making more maneuvers

The transfer agent filing comes in the wake of TokenSoft launching CommerceBlock, a blockchain-based platform that enables the distribution, exchange, and storage of tokenized assets and securities. Borda said that this infrastructure will give issuers the necessary tools to move in the crypto space more easily.

“The CommerceBlock solution provides issuers the ability to deploy a permissioned chain while leveraging Bitcoin’s proven technology stack. This provides issuers with the full control they need to meet their regulatory requirements as well as the scale they need to meet today’s market demands,” Borda said.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,290.50 (+2.21%)
  • Ethereum (ETH) $239.63 (+5.16%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $239.51 (+7.48%)
  • Bitcoin SV (BSV) $188.08 (+21.85%)
  • Bitcoin (BTC) $9,290.50 (+2.21%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft