BCAP Tokens to be Upgraded Utilizing Securitize Platform
September 4, 2018
San Francisco, California, Sept. 04, 2018 (GLOBE NEWSWIRE) -- Blockchain Capital, a premier venture capital firm investing in blockchain technology companies, and Securitize, a leading primary issuance platform for security tokens, announced today that the tokens issued by Blockchain Capital TokenHub Pte. Ltd. (the “BCAP”) in April of 2017 will be upgraded utilizing the Securitize platform in order to further enhance the compliance process with respect to securities regulations and transfer restrictions applicable to the BCAP tokens.
The BCAP tokens are subject to transfer restrictions to comply with applicable securities laws and regulations. In order to further enhance compliance with applicable securities regulations and the transfer restrictions applicable to the BCAP tokens, the original smart contract underlying the BCAP tokens will be upgraded utilizing the Securitize platform. The Securitize platform and the newly released Digital Securities Protocol (“DS Protocol”) will help to provide further assurance that trading in the BCAP tokens will comply with applicable regulatory requirements, including during secondary trading. This upgrade is expected to provide BCAP Token holders with liquidity on secondary trading platforms that are integrated with the DS Protocol.
“It has always been our intent to ensure that the BCAP Token issuance be fully compliant with all applicable securities regulations,” said Brad Stephens, Blockchain Capital Co-Founder and Managing Partner. “We believe that the Securitize solution will further help us to stay true to our expectations for BCAP Token holders to be able to access liquidity for the BCAP tokens in a way that is compliant with applicable securities regulations.”
Carlos Domingo, CEO of Securitize, added, “We are thrilled to be working with Blockchain Capital. The BCAP Token is what is believed to be the first token ever issued as a security in compliance with securities laws, and the choice to use Securitize to upgrade the BCAP tokens and provide an enhanced regulatory solution validates our platform as the most market-ready platform for security tokens today.”
The upgrade process will be open to all BCAP Token holders and accessible through this URL: https://bcap.securitize.io/. BCAP Token holders are urged to register for the upgrade process as soon as possible. BCAP tokens that are not upgraded will remain subject to the existing restrictions on transfer to comply with securities laws and regulations.
About Blockchain Capital:
Founded in 2013, Blockchain Capital is one of the earliest and most active investors in the blockchain technology industry and the crypto ecosystem. Blockchain Capital has raised and deployed four venture funds, including what it believes to be the first ever token offering of a venture fund (the BCAP tokens) in April of 2017. The firm is based in San Francisco and was founded by serial entrepreneurs and Silicon Valley investors Bart Stephens and Brad Stephens. To learn more, please visit www.blockchaincapital.com and follow us on Twitter @blockchaincap.
Securitize is a software platform for issuing and managing digital securities (security tokens) including dividends, distributions, and share buy-backs. Securitize’s innovative Digital Securities Protocol (DS Protocol) enables seamless, fully compliant trading across multiple markets simultaneously. As a market leader, Securitize is heavily invested in the overall security token space and actively partners with exchanges, broker-dealers, custodians of crypto, escrow services, and other financial infrastructure for security tokens.
The comments provided in this press release are for informational purposes only and do not constitute investment advice, are not predictive of any future market performance, are not provided as a sales or advertising communication and do not represent an offer to sell or a solicitation of an offer to buy BCAP tokens or any security. The information contained herein is subject to rapid change as market conditions dictate and does not purport to be complete on any topic addressed. Certain information reflects the opinions of Blockchain Capital and/or Securitize.