Polymath’s industry-first security token issuance platform adds best-in-class security and regulatory compliance capabilities

Polymath, Inc., the company creating the first security token issuance platform, has announced new partnerships with IdentityMind Global™, the Trusted Digital Identity Company, and Agrello, a company offering blockchain-based smart agreement solutions. These new partnerships will streamline the security token issuance and anti-money laundering (AML) and know your customer (KYC) processes on Polymath’s platform, incorporating IdentityMind’s compliance, risk management, and fraud prevention solutions and Agrello’s smart agreements, digital signature and identity technologies.

These partnerships come at a time when token sales and ICOs have raised more than $4 billion worldwide in largely unregulated crowd sales. National regulators have begun to take notice and issue statements mandating regulatory compliance. Moving forward, the launch of tokens that represent ownership in traditional financial assets or ‘securities tokens’ will need to meet regulatory requirements and incorporate mandatory AML/KYC verification.

“We know a stampede is coming from capital markets to blockchain,” says CEO Trevor Koverko. “Polymath is creating the technology platform that helps to form the basis of a security token. In this new world, regulatory compliance and insight into the identity of issuers and investors is a must if sophisticated financial products are going to migrate to the blockchain. Having experienced, reputable partners like IdentityMind and Agrello by our side is critical to ensuring the long-term success of Polymath.”

IdentityMind has extensive experience in providing digital currency, regulatory and risk management solutions to FinTech companies. IdentityMind’s software handles the AML and KYC requirements necessary to launch regulatory compliant token offerings. Its preconfigured plug-in allows issuers to know where their investors are coming from and prevent certain geographies from participating in the fundraising process.

Regarding Agrello’s collaboration with Polymath, Agrello CEO and co-founder Hando Rand said: “A partnership with Polymath will allow us to showcase the Agrello’s cutting-edge KYC and digital signature services in the highly regulated financial industry.”

Polymath’s platform connects token issuers, KYC providers, legal delegates and smart contract developers together to collaborate and create fully compliant security token offerings. This network of participants enables financial products like equities, venture capital, private equity, and real estate trust units to successfully leverage blockchain technology. Additionally, Polymath’s ‘ST20’ token standard makes the securities market more efficient and secure than traditional forms of asset ownership.

Along with the new platform technology collaborations, Polymath’s POLY token is now compatible with the Jaxx digital asset wallet.

About Polymath

Polymath is an interface between financial securities and the blockchain, simplifying the complex technical and legal challenges of a successful token launch. It uses a blockchain-based system to coordinate and incentivize participants to collaborate and launch financial products on the blockchain. It creates a security token protocol which embeds regulatory requirements into the tradeable tokens themselves, which are available to verified participants.

About IdentityMind™ Global

IdentityMind Global is the Trusted Digital Identity Company. We offer a SaaS platform that builds, maintains and analyzes digital identities worldwide. Our platform allows companies to perform digital identity-based compliance, risk management, and fraud prevention. We extend our platform with transaction monitoring for e-commerce fraud prevention, anti-money laundering (AML), and the counter financing of terrorism (CFT). For more information, visit: http://www.identitymindglobal.com

About Agrello

Agrello was founded by a team of Estonian lawyers, high-level academics, and information technology experts, with the shared vision of creating digital contracts that will forever change the way people interact with each other and interface with legal authorities.

Specializing in the intersection of law, legal policies and modern technologies, the Agrello core team followed the development of blockchain technology since its early beginnings and understands the hurdles contemporary smart contract systems will have to overcome in order to be successfully implemented in established legal environments.