Science Blockchain, an incubator for sponsoring and growing blockchain-based companies, has announced that their own tokenized security offerings will use the compliance protocol as laid out by Securitize.
Securitize has been making headway this year as it seeks to establish itself as one of the leading compliance platforms for the security token industry. Now, they can add one more project to their list of supported tokens: Science Blockchain has just announced that they will be moving their own SCI security tokens onto Securitize and will follow their established compliance protocols.
Science Blockchain further commented that they have made the move for “easier compliance with regulatory requirements, including secondary trading.”
SCI Token Upgrade Currently Live
SCI tokens from Science Blockchain are now effectively frozen and will be moved from their original platform on Tokenhub to Securitize. Currently, the token upgrade and migration is live on the Securitize website and open to all Science Blockchain investors.
Science Blockchain has said that other tokens in their portfolio currently on Tokenhub (AVT, MFT, WPR, NCT, INVITE, and DOG tokens) will also be migrated to the Securitize platform, the details of which will be announced in the near future.
An Accepted Security Token Standard?
Carlos Domingo, CEO of Securitize, has said that the move is “further validation of our leadership in the space and the growing adoption of our Digital Securities (DS) Protocol.”
Currently, Science Blockchain represents some $1.3B in aggregate portfolio assets, funded by more than 85 companies. Such a large incubator for blockchain-related investments gives Securitize significant visibility as an increasingly accepted standard for the security token industry.
Securitize has been in the news recently over investments from Coinbase and Ripple, raising a total from $12.75 million from notable enterprises. They were also responsible, along with SPiCE Venture Capital Fund and AirSwap, in transferring the first security on a public blockchain last month.
What do you think Science Blockchain’s recent move to the Securitize Platform? Is Securitize making inroads as a commonly-accepted security token standard based on what you have been reading? Let us know in the comments.
Image courtesy of Science Blockchain and Securitize.