AlphaPoint will be upgrading its digital infrastructure to support security tokens and their offerings. The news was revealed in an exclusive interview yesterday.
AlphaPoint, a digital asset service provider, is updating its security token solution. The company has largely been involved in providing services to private equity, real estate, funds, and other institutional investors. Now the company will be offering asset-backed security tokens for its clients as well.
The upgrade will allow institutions to create and trade their own security tokens privately and securely. AlphaPoint broken the news during an exclusive interview with CoinDesk.
AlphaPoint has said that this security token trading service is already in use. For example, real-estate private equity firm Muirfield Investment Partners and asset management firm Laureate Digital Securities are both currently piloting the platform. The upgrade hopes to now only streamlining the issuing of these tokens by institutions, but also promises the lessen the onboarding time for customers.
Historically illiquid assets can now be tokenized thus be more easily traded, according to AlphaPoint CEO Salil Donde. Moreover, he’s of the strong belief that this upgrade will further drive institutional adoption of security tokens.
“We are enabling our customers to forge ahead with institutional adoption of security tokens as a means to streamline issuance, reduce deal costs via smart contracts, and optimize deal execution with the flexibility of the immutable ledger provided by STOs, “ Donde said.
AlphaPoint is backed by billionaire Mike Novogratz’s Galaxy Digital which invested some $15 million back in June. The company has been steadily expanding since then.
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Image courtesy of AlphaPoint.