While it is typically digital assets like Bitcoin and Ethereum which dominate newsfeeds, there remain niche subsets of the market which boast huge potential. One example of this are digital securities. Where most tokens tout themselves as commodities (often in a misguided attempt to avoid regulatory oversight) these assets are clear in their purpose – to function as digital representations of actual securities, imbuing the same rights as a traditional security unto their holders.
The following are a few developments from recent days which pertain to digital securities.
Polymesh Fund
When Polymath announced its ‘Polymesh’ blockchain, purpose built for servicing digital securities, hopes were high. Now, with the network live and stable its native token ‘POLYX’ is being listed on exchanges, and companies are coming on board as node operators. Most recently however, Polymath has announced the launch of a new ‘Ecosystem Development Fund (EDF)’.
This fund by Polymath is comprised of $10M earmarked specifically for distribution of “…grants to projects determined of value to the Polymesh ecosystem.” The goal of which is to,
- drive global adoption of digital securities
- incentivize development atop Polymesh
Polymesh Head of Tokenization, Graeme Moore, elaborated on what this means. “The Ecosystem Development Fund delivers two benefits to service providers. Successful applicants not only receive funding but they can also attract clients by adding a Polymesh integration to their roadmap…We encourage any company providing security token products and services to apply and we welcome them to our rapidly growing ecosystem.”
Looking forward, the rest of 2022 is scheduled to be a busy year for Polymesh. Not only does the team expect to bring support for the tokenization of NFT baskets, it intends on integrating Mediated, Encrypted, Reversible, Secure Asset Transfers – also known as ‘MERCAT’. This protocol will facilitate private transactions…
