Liechtenstein Blockchain Innovator, LCX today announces a strategic partnership with Hedera Hashgraph. LCX is expanding its Liechtenstein Protocol for the Hedera Hashgraph network to establish a new standard for security tokens and tokenized digital assets.
LCX established one of the world’s first regulated and compliant blockchain ecosystems for professional investors and recently received approval of eight blockchain registrations by the Liechtenstein regulator – more than any other company in the country.
Related: LCX Receives Licenses From the Financial Market Authority of Liechtenstein
With this new partnership, Hedera envisions leveraging the technology infrastructure of LCX to expand the Hedera Token Service (HTS) with the addition of a new security token standard and provide secure, reliable, transparent, and compliant infrastructure for digital securities to its users.
From this strategic partnership, the Hedera and LCX community will benefit in numerous ways:
“It has been wonderful to see the wide array of innovative applications in the Hedera ecosystem,” said Leemon Baird, CTO and Co-Founder of Hedera Hashgraph. “LCX is leading the way in creating blockchain-agnostic standards for the exciting area of digital securities, and by leveraging Hedera’s unique properties of speed, security, and fairness with a low carbon footprint, which will accelerate the adoption of this emerging market.”
The Hedera Token Service (HTS) offers LCX and its clients the ability to issue and configure tokens on the Hedera platform, taking full advantage of the Hedera network’s native performance, security, stability, and governance. HTS combined with LCX’s compliant token sale manager offers a faster and more efficient alternative to smart contract token creation.
“There is an immediate need for practicable standards for digital securities to help businesses around the world simplify and enhance how they issue security tokens, raise funds or establish new blockchain powered financial instruments,” said Monty C. M. Metzger, CEO and Founder of LCX. “LCX’s partnership with Hedera Hashgraph is an important milestone in our efforts to digitize traditional processes and help spur innovation in this critical industry segment for the decades to come.”
The Liechtenstein protocol, introduced at the top of the Hedera distributed network, will enable organizations to use LCX’s Liechtenstein Protocol framework to easily create security tokens with the ability to automatically enforce certain conditions related to legal and regulatory requirements applicable to securities, and enable the automatic compliance of the tokenized resource with predefined requirements embedded in the code.
Photo by Weston MacKinnon on Unsplash
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