Krypto follows the Wall Street: Securitize acquires traditional transfer agents
Krypto follows the Wall Street: Securitize acquires traditional transfer agents
- Securitize has taken over a traditional transfer agent Pacific Stock Transfer
- The takeover will help the Pacific Stock Transfer customers to procure capital and to monitor the trade activities using blockchain technology
The Crypto Worker platform Securitice wants to bring blockchain technology to Wall Street.
As one of the first takeovers of a traditional financial company by a digital asset company, Securitize Pacific Stock Transfer has taken over, the companies announced on Tuesday.
The takeover of a transfer agent who has shareholders, compliance and corporate actions for companies will help securitize to bring traditional companies to the blockchain ecosystem, the company said. As soon as the takeover has been completed, Security will be one of the top 10 transferred agents worldwide with over 1.2 million accounts.
Securitize currently offers solutions for private companies to create capital and, among other services, to issue both traditional book entries and token shares. The takeover offers Pacific Stock Transfer customers, which will continue to operate under its current name, and its shareholders the opportunity to gain access to new blockchain-based services such as capital gathering and secondary trade.
"This takeover is a big step forward for securitize, since we significantly improve our ability to introduce new functions for more companies, as well as for the financial services industry in general with this important step in building and expanding a 'blockchain bridge' from the past to a digital native future," said Carlos Domingo, CEO of Security.
The introduction of blockchain technology into the current securities market will bring security and transparency into the room, added Domingo.
"Public blockchains offer a great opportunity to present the ownership of securities in a disruptive way. It is an unchangeable public lid, so that with the help of tokens and wallets you can get irrevocable evidence of ownership of the securities, without having to persecute cap tables." he said in a Tuesday.
Securitize, founded in 2017, creates shares as unique digital tokens and records them in a decentralized blockchain network so that companies know the possession of each share and can access all trading activities in real time. It is safer and more efficient than paper files or centralized databases, said Domingo.
"Pacific Stock Transfer has been one of the most important companies for over 38 years that most people have never heard of: from creating stocks to the persecution of property to voting, taxes, reports and more, we do all the difficult work that companies and shareholders have to have and act," said Billy Miller, Chief Operating Officer from Pacific Stock and still Security business will lead in an explanation. "The integration with block chain -based recording will enable us to offer our customers and their shareholders a significantly better and more efficient service in the future."
The companies involved rejected the conditions of the transaction.
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The contribution "Crypto goes after Wall Street: Securitize Acquires Traditional Transfer Agent" is not a financial advice.
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