Blockchain Firm Templum Executes First Secondary Security Token Transactionbr>
Blockchain firm Templum announced that it executed a secondary transaction of a security token on a regulated platform.
Founded in 2017, Templum aims to offer both primary issuance of initial coin offerings (ICO) and the secondary trading of both registered and unregistered digital assets as securities through Liquid M Capital’s Alternative Trading System (ATS). ATS is a US and Canadian regulatory term for a non-exchange trading venue that matches buyers and sellers to find counterparties for transactions.
Templum said its proprietary technology and intellectual property, combined with Liquid M Capital’s ATS, will provide ICO investors with a first-of-its-kind platform for the sale and secondary trading of digital tokens.
The secondary transaction took place on Liquid M Capital’s ATS and Templum Markets, a broker-dealer fully approved in 50 US states and other foreign jurisdictions. It involved institutional investors seeking to transact in BCAP, issued by venture capital firm Blockchain Capital. Each BCAP token is a private, unregistered security representing a limited partnership interest in the fund.
“Templum Markets provided a seamless experience for the transaction and Blockchain Capital is looking forward to its full launch,” said Brad Stephens, co-founder of Blockchain Capital.
“We believe this is the first security token to trade in a fully compliant platform,” said Chris Pallotta, co-founder and CEO of Templum. “We’re embracing regulation to provide a secure market and a level of comfort for both investors and issuers that hasn’t been the norm in the digital assets market so far.”