Security Token Offering Platform Released By Blockchain Firm Stratis
Blockchain development platform Stratis has released its Security Token Offering (STO) platform.
Stratis is a blockchain network that makes developing, running, and launching blockchain-based applications and networks easy for developers. Instead of requiring developers to learn blockchain development languages that may be foreign to them, Stratis allows applications, and side chains to be developed in C#, Microsoft’s .NET framework, and the Stratis API.
The Stratis STO platform will allow businesses to raise capital by issuing legally permissible, asset-backed securities on the Stratis blockchain. The platform is an adaptation of Stratis’ existing Initial Coin Offering (ICO) platform and includes additional legal features to ensure it is suitable for security token issuance.
The platform reportedly conforms with both Know Your Customer (KYC) and Anti Money Laundering (AML) laws and has undergone rigorous testing in order to ensure it meets all legal requirements for hosting an STO. Stratis will regularly update these requirements and will continue to modify its platform as required.
According to Stratis, while building its STO platform, it has been working closely with its partner Gluon, a platform that establishes an interconnected network of vehicles, allowing users to diagnose, track and monitor issues using IoT devices, AI and blockchain. Stratis has been assisting Gluon with fulfilling all its legal requirements to register its GLU token with the SEC. Gluon is now in the later stages of the registration procedure and is expected to become the first company to issue a token on the Stratis STO next year.
“We are delighted to launch our STO platform, one of the key milestones of our 2019 Development Roadmap,” said Stratis CEO Chris Trew. “The STO platform builds on the functionality of the Stratis ICO platform with the addition of several new features that satisfy the rigorous regulatory requirements needed to conduct STOs. Our STO Platform is highly secure, flexible and scalable, making it easy for businesses of any size to raise money through the tokenisation of their assets.”