Polymath, the leading security token platform announced new node operators working to secure its institutional-grade, purpose-built blockchain. Tokenise, an end-to-end tokenization provider that manages a global security token exchange, and Saxon Advisors, a London-based, digital asset corporate finance advisory firm have teamed up to operate nodes on Polymath’s Polymesh blockchain. Both Saxon Advisors’ and Tokenise’s node is run and managed by Saxon Advisors’ staking division, which offers professional staking services on promising PoS networks.
Polymesh is an institutional-grade permissioned blockchain created by Polymath specifically for regulated assets. Transactions involving securities need to be determined by known, trusted entities. Purpose-built for securities, Polymesh relies on verified capital market participants that meet specific criteria to validate transactions as node operators.
Tokenise offers investors and issuers a self-service digital interface that provides 24/7 direct market access to the Tokenise Stock Exchange, which is used for capital raising, primary issuance, secondary trading, clearing, settlement and registration of tokenized securities.
“We expect Polymesh to become ubiquitous in the security token space, so getting involved by running a node is a no-brainer for us,” said Mike Kessler, CEO and Founder of Tokenise. “Security tokens have been tried on other blockchains with varying levels of success, and factors such as gas fees and the principles of anonymity meant it was always a difficult proposition. With Polymesh we can move beyond those challenges.”
UK-based Saxon Advisors was founded in 2018 in order to institutionalise the capital raising process for digital asset companies. Since then, it has acted as the lead advisor on more than $100m worth of transactions, for projects that range from Layer 1 blockchains and dapps to cryptocurrency wallets and custody providers.
“We’re delighted to be playing our part in the launch of Polymesh and the evolution of the security token market generally,” added Ultan Miller, Managing Partner at Saxon Advisors. “It’s time for blockchain to be adopted as an institutional solution to drive efficiency and create new revenue streams. As strong advocates of Polymesh and the way it’s designed to bring institutions on board with security tokens, we’re committed to connecting more financial services companies to the chain and helping to realize the network’s full potential.”
Polymesh streamlines antiquated processes and opens the door to new financial instruments by solving regulatory challenges with public infrastructure around identity, compliance, confidentiality, and governance through key design principles built into the chain. Polymesh is currently in the testnet phase in advance of its mainnet launch, and users can access the chain by participating in the Alcyone testnet. The testnet does not involve real assets.
“Digitizing securities on the blockchain can bring about a huge leap in the efficiency and liquidity of capital markets,” said William Vaz-Jones, Director, Partnership Development at Polymath. “Polymesh has been purpose-built to facilitate the institutional adoption of blockchain as a tool to better manage the flow and accessibility of regulated assets. We’re encouraged by the range of market participants who have shown support for Polymesh and are delighted to have players like Tokenise and Saxon working on the chain.”
Photo by Charles Forerunner on Unsplash
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