Announced April 4th 2019, 3iQ Corpo. (3iQ)— Canada’s first regulated multi-crypto asset portfolio manager— will utilize the KoreConX KoreProtocol during its upcoming Digital Securities Offering (DSO). 3iQ selected the KoreProtocol not just because of initial issuance, but due to its ability to manage assets after issuance.
3iQ Choses KoreConX for its Digital Securities Offering – Explained
3iQ was founded in 2012. The company is Canada’s first-ever digital asset investment fund manager to fully comply with the rules and regulations established by Canadian securities regulatory authorities.
The enterprise aims to expose accredited investors to its multi-crypto asset investment fund.
3iQ is turning to digital securities to make that happen.
More specifically, they’ve selected the KoreProtocol as their digital securities protocol.
According to Howard Atkinson, chairman of 3iQ,
“Moving to Digital Securities is a very important decision in the history of our company and we need a protocol that is secure and robust, while never compromising compliance. We believe KoreConX is not only the right choice when it comes to the Digital Securities Protocol, but also when it comes to management after issuance.”
3iQ will be using their Exempt Market Dealer to legally offer these securities to accredited investors, according to 3iQ CEO Fred Pye.
Through the KoreConX platform, companies can issue securities while also having options regarding the pre, during, and post phases of capital raise.
Issuers have access to due diligence mechanisms, documentation gathering for investor relations, and other needed tools.
CapTable Management is also available to provide solutions to companies with a growing number of shareholders.
According to KoreConX CEO Oscar Jofre,
“We created the platform with the business’ owners in mind. We created it for the dynamic entrepreneur who needs efficiency and agility when managing their companies so they can focus on perfecting their business. We are very honored that an Investment Fund Manager of the magnitude of 3iQ chose our solutions to be the technology behind their Digital Securities Offering and their company.”
Digital Securities and Security Tokens Explained
To clarify, the term ‘digital security’ is synonymous to ‘security token’.
Some companies in the digital asset space prefer the term ‘digital security’ as it is better understood by their primary clients.
Regardless of the terminology, security tokens are anticipated to bring significant benefits to the traditional financial securities infrastructure.
Real-world assets such as equity, investment funds, real estate, REITs, and fine art have all undergone tokenization.
For more on this quickly evolving asset class, be sure to review our comprehensive security token guide.
What do you think of 3iQ selecting the KoreProtocol for its Digital Securities Offering? Let us know what you think in the comments section below.
Image courtesy of KoreConX.