Here is our pick of the 3 most important Security Tokens news stories during the week:
BitGo Acquires Harbor In Surprise Expansion Beyond Crypto Custody
Crypto custodian BitGo announced Tuesday the acquisition of Harbor, a security token platform. The move allows BitGo to expand its services from custody, becoming the first single entity in the USA digital securities-cryptocurrency space holding broker-dealer, transfer agent and qualified custodian licenses. The terms of the deal were not disclosed.
BitGo is a Silicon Valley-based digital asset trust company and security company, claiming transaction volume of $15 billion per month. Harbor is a highly-regarded security token platform in San Francisco, and a licensed broken-dealer and transfer agent. This acquisition by BitGo of Harbor dramatically demonstrates BitGo’s determination to expand its digital assets footprint by undertaking new services. Both companies are backed by numerous Tier One venture and other funders.
Openfinance Lists LDCC Token from Lottery.com
Openfinance, a trading marketplace for digital assets, announced the listing of Lottery.com‘s LDCC token.
Lottery.com is a Texas-based company that enables consumers to participate in state-sanctioned lottery games via their mobile phones. The LDCC token is available for all US investors, not only accredited investors. The company aims to expand its business to provide a security token platform for charities, sports franchises, and other organizations to conduct raffles, sweepstakes and other games of chance to gamify fundraising.
Switzerland’s Validity Labs Joins the International Token Standardization Association ITSA
This week, the Swiss-based blockchain educational and infrastructure platform, Validity Labs confirmed it joined the International Token Standardization Association (ITSA). The decision to join the ITSA comes at a crucial stage of the EU’s STO regulatory development. The move demonstrates a further push for a more robust framework to support the expanding security token sector.
Validity Labs is an activist education force in Europe, and one of the leading providers of blockchain-based decentralized applications. The company offers end-to-end STO implementation services with the goal to bridge the line between technology and legal compliance within the sector.
ITSA is a non-profit German law association that specializes in token taxonomy. Token taxonomy is the identification, classification, and analysis of blockchain-based tokens. ITSA is a leading voice for the promotion, development, and implementation of comprehensive security token market standards.
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