Security Token news for Week Ending Friday 28 February 2020


Here is our pick of the 3 most important Security Tokens news stories during the week:

Commercial Real Estate Marketplace Red Swan Tokenizes $2.2 billion In Real Estate Through Security Token Platform Polymath 

Red Swan CEO Ed Nwokedi:  “…in the past [real estate tokenization was attempted on] platforms like Harbor, Propellr and Fluidity, which were really tech companies…They didn’t really have the real estate background or the expertise to understand how the private real estate market works.”

Why it matters: New York-based Red Swan says it has tokenized $2.2 billion in commercial real estate representing 16 different Class A commercial properties based in Texas, California and Ontario, Canada. CEO Nwokedi disclosed Red Swan is in the process of becoming a registered investment adviser, which will allow it to manage assets for accredited investors. The tokens are ST-20 tokens running on Ethereum.


Security Token Platform Dusk Network Says It Will Tokenize Shares For Thousands Of SMEs In The Greater Benelux Region

The Amsterdam-based company announced Thursday it has partnered with Firm24, one of the region’s largest shareholder registries, and will use blockchain for an automated infrastructure that could introduce market efficiencies and transform how shares, that are not publicly listed, are traded.

Why it matters: Firm24 has more than 35,000 SMEs from Belgium, the Netherlands and Luxembourg (known as the Benelux region).  Firm24 hopes to deploy a tokenized share register to automate corporate actions and connect customers directly, creating tokenized representatives of share certificates that are freely tradable.

LuxTag Claims First Successful Security Token Offering in Malaysia

LuxTag announced it has closed on a $360,000 token offering. The crowdfunding round saw 51% of the funds denominated in Bitcoin and XEM (NEM).  LuxTag claims to be Malaysia’s very first successful token offering. The securities offering was hosted on PitchIn.

LuxTag is an anti-counterfeit, track and trace and anti-theft solution provider. LuxTag utilizes the NEM blockchain platform and NEM’s native tokens (XEM) to run its blockchain operations. The service revolves around digitized certificates of authenticity for tangible products, linking to brands and owners through multi-signature smart contracts and the IoT (Internet of Things) elements.

Why it matters: The company included among its customers Chronoswiss, a Swiss watchmaker, the International Islamic University of Malaysia (for securing authenticity of graduation certificates) and Defeet International, a sports apparel brand based in the US.

We have a self-imposed constraint of 3 news stories each week because we serve busy senior leaders in Fintech who need just enough information to get on with their job.

For context on Security Tokens please read the chapter on Security Tokens in our Blockchain Economy book and read articles tagged Security Tokens in our archives. 

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