DigiShares will receive a grant from the EDF for integrating Polymesh with DigiShares technology and expanding the Polymesh ecosystem into DigiShares’ network of clients and trusted partners. As part of the integration, DigiShares will support migration of their clients’ existing ERC-1400 assets from Ethereum to Polymesh, demonstrating a leading tokenization platform’s trust in Polymesh as the premier blockchain for regulated assets.
The announcement comes just two weeks after Polymesh unveiled the EDF on June 7, 2022. Designed to incentivize companies with closed-source technology to integrate Polymesh, the EDF is equipped with $10 million USD to flexibly distribute in grants to projects determined of value to the Polymesh ecosystem.
The DigiShares-Polymesh integration will enable issuers to create and manage security tokens on Polymesh using DigiShares’ tokenization platform, which features a cap table that is automatically updated when tokens are traded, investor onboarding, and a bulletin-board trading system.
Claus Skaaning, CEO of DigiShares, says, “Polymath has been a long and trusted partner of DigiShares and we are proud to soon support the Polymesh blockchain. We believe that Polymesh has long term potential to lead the security token space.”
DigiShares is a leading provider of white-label end-to-end tokenization solutions specializing in tokenizing large physical assets such as real estate.
DigiShares has extensive experience with tokenization having supported ERC-1400 on Ethereum since 2019 and having been early supporters of Polymesh in its development. To date, DigiShares has used ERC-1400 for the issuance of many tokens. Once Polymesh is supported, ERC-1400 clients will be offered a migration path to Polymesh.
Commenting on the announcement, Polymesh Association’s Head of Tokenization Graeme Moore says, “The DigiShares integration is an exciting moment for the Polymesh ecosystem as it shows companies are excited by the promise of Polymesh and feeling encouraged by the Ecosystem Development Fund to migrate their tech-stack to Polymesh while the ecosystem is in its early days”.
DigiShares provides white-label solutions for the issuance, corporate management and trading of digital assets. With offices in Denmark, the US and Germany, DigiShares is a global provider of tokenization software for investment management, corporate management, and trading of tokenized securities. DigiShares has around 100 clients globally using its software.
Polymesh is an institutional-grade permissioned blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving challenges around governance, identity, compliance, confidentiality, and settlement.
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