TORONTO, June 8, 2021 /PRNewswire/ — BLOXXON AG (“Bloxxon”), a Berlin-based finTech company offering digital asset solutions and API services to institutional investors and financial services providers, is now running an authoring node on the testnet for Polymesh blockchain, a permissioned blockchain purpose-built by Polymath specifically for regulated assets.
Polymesh relies on key design principles built into the chain to solve the inherent challenges of public infrastructure in terms of managing identity, compliance, confidentiality, and governance. When it comes to node operators, Polymesh relies exclusively on companies like Bloxxon which are known, trusted, and verified capital markets participants. This requirement keeps the chain secure and operational, while also ensuring known entities confirm transactions on chain.
“Security tokens offer a new class of assets and the technology powering them will play a critical role in deciding their success,” said Didier Goepfert, Chief Product Officer at BLOXXON AG. “Because Polymesh is built specifically for regulated assets, it provides confidence that the technology can keep pace with market requirements. We’re looking forward to our growing involvement with the chain.”
Polymesh is currently in testnet phase. Users can earn rewards and test functionality by participating in the recently-launched Incentivized Testnet (ITN). The ITN does not involve the use of real assets.
Founded in 2019, Bloxxon is a fintech platform that provides services and technology to banks and financial institutions which are looking to establish and expand their businesses in crypto and digital assets. Bloxxon offers product solutions and API-services for digital assets across three core business areas: custody, tokenization, and asset servicing. Its primary offering is its Crypto-as-a-Service for investment companies, asset managers, and banks.
“The functioning of the blockchain involves a lot of participants, and while it might not matter who these participants are on another blockchain, the identity of node operators is an important factor for Polymesh as a chain specific for regulated securities” said Chris Housser, Interim CEO at Polymath. “We are very glad to have Bloxxon, a leading crypto and digital-asset service provider, participating in the Polymesh network and contributing to its security.”
About BLOXXON AG
BLOXXON AG offers institutional investors and financial service providers product solutions and API-services for digital assets in the core business areas of custody (safekeeping of digital assets), tokenization (issuance of digital securities) and asset servicing (trading, reporting, access to trading venues). WIth its own licenses for crypto custody, brokerage, and financial portfolio management, BLOXXON AG is the leading Crypto-as-a-Service partner for investment companies, asset managers and banks. For corporations and asset managers, BLOXXON AG offers a one-stop shop for tokenized security issuances. Issuers such as L’Osteria and the renowned banking partners like Hauck & Aufhäuser rely on the services of BLOXXON AG. Through its subsidiary Kapilendo Invest AG, BLOXXON AG offers wealthy private clients access to the first regulated asset management with crypto assets in Germany.
Polymath makes it easy to create, issue, and manage security tokens on the blockchain. More than 200 security tokens have been deployed using our Ethereum-based solution and we are now in the midst of launching Polymesh, an institutional-grade blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving the inherent challenges with public infrastructure around identity, compliance, confidentiality, and governance.
Polymath is not a broker-dealer, funding portal, trading platform or otherwise engaged in the business of trading in securities or providing advisory services regarding the issuance, buying or selling of securities. Polymath is not making any recommendation or giving any advice with respect to any company or proposal discussed in this communication.
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