Polymath, the first-ever securities token platform, is poised to bring trillions of dollars of securities to the blockchain by making it easy for financial companies to launch their own securities tokens.
The platform, officially launching on October 1, will serve as a launch pad for companies looking to create and issue securities tokens by automating the complex legal and technical functions of a token sale. Powered by the blockchain and smart contract technology, Polymath plans to enable digital tokens to represent shares in traditional financial assets like private equity, stocks, debentures, commodities, VC funds, real estate, royalties, and insurance - assets that function far better as tokens.
CEO of Polymath and globally recognized blockchain thought leader Trevor Koverko says, “Polymath is doing to securities tokens what Ethereum did for app tokens. Our mission is to scale an intuitive platform that breaks down the barriers for issuers to launch new securities tokens in the same way ethereum made it easy for developers to launch new app tokens. At a fraction of the cost and time it currently takes to launch a securities token, Polymath-powered issuers will be able to launch custom tokens that can pay dividends, govern management, conduct proxy votes and collect fees - all while complying with global KYC/AML requirements via smart contract technology.”
From creation, to fundraising, to secondary trading, Polymath’s platform guides issuers like ETFs, Venture Capital firms, and investment funds through the entire process of a successful token launch.
“Applying decentralized properties to real world securities is well overdue; they become far more liquid, fundraising is simpler, settlement is instant, transaction fees are negligible and most importantly, every human being on the planet has access to tokens, including the unbanked,” Koverko adds.
Of cryptocurrency’s $170 billion USD market worth, only $50 million USD represents the total security token market capitalization. Experts predict this figure will soar to $10 trillion USD by 2027, and Polymath is positioning itself to be the catalyst for this explosive growth.
“Today, securities like equities, bonds and private equity are the foundation of our modern financial system, and they are all stampeding towards the blockchain. But rather than sprinkle a bit of blockchain technology on top of outdated infrastructure, we are building an open source, decentralized framework from the ground up that is accessible to any asset owner looking to gain exposure to the booming cryptocurrency industry. So far, the response from the market has been overwhelming, and it's enabled us to stack our team with the top minds in the industry,” Koverko says.
Polymath’s advisory board includes CEO of Jaxx and Ethereum Co-founder Anthony Di Iorio; CEO of Litecoin and former COO of Coinbase Charlie Lee; Board Member of the Bitcoin Foundation Bruce Fenton; CEO of ShapeShift Erik Voorhees, and Founder of Tether Craig Sellars.
Polymath aims to become the open-source standard for launching AML/KYC compliant financial securities. Polymath plans to announce its first batch of Polymath-powered issuers, which currently include a top Canadian venture capital fund, a leading tech private equity firm and a high yielding Real Estate Investment Trust. Polymath aims to regularly enable the launch of new securities tokens on its proprietary platform.