BLOXXON AG (“Bloxxon”), a Berlin-based finTech company offering digital asset solutions and API services to institutional investors and financial services providers, is now running an authoring node on the testnet for Polymesh blockchain, a permissioned blockchain purpose-built by Polymath specifically for regulated assets.
Polymesh relies on key design principles built into the chain to solve the inherent challenges of public infrastructure in terms of managing identity, compliance, confidentiality, and governance. When it comes to node operators, Polymesh relies exclusively on companies like Bloxxon which are known, trusted, and verified capital markets participants. This requirement keeps the chain secure and operational, while also ensuring known entities confirm transactions on chain.
“Security tokens offer a new class of assets and the technology powering them will play a critical role in deciding their success,” said Didier Goepfert, Chief Product Officer at BLOXXON AG. “Because Polymesh is built specifically for regulated assets, it provides confidence that the technology can keep pace with market requirements. We’re looking forward to our growing involvement with the chain.”
Polymesh is currently in testnet phase. Users can earn rewards and test functionality by participating in the recently-launched Incentivized Testnet (ITN). The ITN does not involve the use of real assets.
(Related Article: Polymath Unveils Incentivized Testnet for Polymesh)
Founded in 2019, Bloxxon is a fintech platform that provides services and technology to banks and financial institutions which are looking to establish and expand their businesses in crypto and digital assets. Bloxxon offers product solutions and API-services for digital assets across three core business areas: custody, tokenization, and asset servicing. Its primary offering is its Crypto-as-a-Service for investment companies, asset managers, and banks.
“The functioning of the blockchain involves a lot of participants, and while it might not matter who these participants are on another blockchain, the identity of node operators is an important factor for Polymesh as a chain specific for regulated securities” said Chris Housser, Interim CEO at Polymath. “We are very glad to have Bloxxon, a leading crypto and digital-asset service provider, participating in the Polymesh network and contributing to its security.”