TokenSoft, Inc., one of the leading platform for tokenized securities, has just announced that its broker-dealer affiliate, TokenSoft Global Markets, will be working closely with Coinbase Custody. Coinbase will be providing secure crypto-storage services for users of TokenSoft Global Markets.
A secure means of storing digital assets is pivotal to the cryptocurrency world’s long-term success. Coinbase Custody has been providing these services for some time, but it has just been announced that TokenSoft will be working closely with them to secure their digital securities. Tokensoft Global Markets is a SEC-registered broker-dealer which will allow for compliant security tokens to be traded, and now they can be stored securely through Coinbase Custody.
With the help of Coinbase Custody, security token issuers and investors will have access to institutionally-vetted security with native integration that will allow for ease as well as trust.
“Providing Issuers with a Peace of Mind”
Masan Borda, the CEO of TokenSoft, spoke highly of Coinbase’s integration with their services calling them “one of the most well-known custody platforms” with a proven track record of security: everyone in the cryptocurrency world knows about Coinbase.
Issuers are looking for someone to manage the security and compliance of custody for them. The current options aren’t fully integrated, use omnibus accounts, and don’t provide the level of data granularity necessary to meet the standards of top accounting firms,” Borda said.
Coinbase’s “approval in one of the strictest jurisdictions, New York, gives everyone a lot of comfort,” he went on to say.
Ultimately, the integration between these two companies will allow for digital assets to get on the market faster. As Sam McIngvale, General Manager of Coinbase Custody commented: “Paired with TokenSoft’s affiliated broker-dealer, TokenSoft Global Markets, Coinbase seeks to bridge the gap between a client’s vision and its ability to raise and securely store the funds during a security token sale.”
In effect, the integration bodes well for the security token market seeing as TokenSoft is one of its leading and most visible platforms.
TokenSoft Global Markets was just recently acquired by TokenSoft when they announced a majority stake in the SEC-registered broker-dealer earlier this month. In October, the company announced that they are working closely with Hyperledger Sawtooth, an enterprise blockchain used by Amazon, Intel, and other tech giants.
Will we see Coinbase Custody be taking a larger role in custodial services for digital securities in the near future? Have thoughts on TokenSoft? Let us know in the comments below.
Image courtesy of Medium.