Polymath to Test Security Token Exchange at DEX

Polymath managed to “successfully” test using the DEX protocol called Loopring, during which only authorized transactions with ST-20 security tokens took place
28 February 2019   542

The platform of security tokens Polymath, together with the Loopring project, demonstrated the possibilities of regulated exchange of tokenized securities on a decentralized exchange. This is reported by CoinDesk.

According to Polymath, it managed to “successfully” test using the DEX protocol called Loopring, during which only authorized transactions with ST-20 security tokens took place, while unauthorized transactions were not concluded.

The ST-20 standard developed by Polymath is an extended variation of the more general ERC-1400 standard, which allows you to limit transactions in the blockchain. Such tokens can be held and exchanged only if certain criteria are met, Polymath said, adding that during the test the wrapped ETH cryptocurrency was exchanged for the ST-20 standard token called Cammazol.

According to Graeme Moore, vice president of marketing for Polymath, the teams participating in the initiative showed that it is possible to enforce legal requirements when exchanging security tokens, even if it is carried out on a decentralized exchange.

What we are showcasing here is that decentralized exchanges and security token issuers have the ability to maintain compliance through the standardized protocols that Polymath and others have built. And, in fact, security tokens make it easier for issuers to follow regulations, when compared with the legacy capital markets system using paper share certificates.

Graeme Moore

Vice president of marketing, Polymath

Describing how it works, Polymath said that every time a trade is attempted, the token calls its transfer manager module and effectively asks, “Can this trade be executed?” The transfer manager then checks a whitelist (controlled by the token issuer) to see if the buyer and the seller are allowed to trade the token. Only if the answer is yes is the trade executed.

Loopring’s focus on user experience with their protocol was a great match for Polymath powered ST20 tokens which support an enhanced feature set on top of ERC20 to allow transfers to be fully validated before execution. 

Adam Dossa

Director of technology, Polymath

Polymath is company, dealing with securities tokenizations.

Robinhood to Raise $323M During Financial Round

So, the company's capitalization reached $ 7.6 billion
23 July 2019   76

The operator of the mobile application for trading stocks and cryptocurrency Robinhood company Robinhood Markets Inc. announced the closure of a round of financing for the E-Series, which resulted in an impressive $ 323 million. The company's capitalization reached $ 7.6 billion.

The financing round was led by investment company DST Global, and Ribbit Capital, NEA, Sequoia and Thrive Capital also contributed.

The company intends to direct the raised funds to business expansion and the creation of new financial services, calling this process "democratization of finance for all."

Recall that the ability to trade cryptocurrencies through the Robinhood app was first implemented in February 2018. Today, the company supports leading assets such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin and Ethereum Classic.

In January of this year, Robinhood received BitLicense - a license to work with virtual currencies from the Financial Services Authority of New York (NYDFS), and the official launch of the application in the state took place on May 23.

It is noteworthy that in 2017 Robinhood was estimated at only $ 1.3 billion. The introduction of cryptocurrency, however, accelerated the growth of the user base and fueled interest from venture investors. So, last year, the Robinhood managed to attract $ 363 million, with which the company's capitalization was $ 5.6 billion.