Horizon Globex US, a software provider for the security tokens sector, has signed a license agreement with V Stock Transfer, a transfer agent included in the SEC and a registrar, which deals with internal software called CustodyWare,
From now on VStock will be able to supervise tokens issued in accordance with the following regulations: Reg D, Reg A +, Reg S or S-1.
Both the supervision itself and the operation of transfer agents are constantly raised issues in the area Security Token Offering (STO). CustodyWare created by Horizon Globex is the first, fully compliant product on the American market, ensuring supervision of the sector security tokens, as well as efficient trading in them on the secondary market. According to representatives of VStock, the steps taken result from the conviction that a transfer agent is necessary for the regulation of security tokens.
On the other hand, CustodyWare is a product that can be crucial for maintaining the integrity of the STO market. The more so as he emphasizes Yoel Goldfeder, a board member of VStock, although a large proportion of market players are in favor of abandoning the regulation of trading in tokens, when it comes to fraud, they turn to the regulator for help.
After the maintenance period established by Regulation D, exchange eminences may only allow for a fully secondary trade that requires a registered transfer agent. He answers, among others for canceling and re-issuing tokens when keys are lost by a private investor, as well as for paying out dividends. In addition, the CustodyWare service integrates the KYC and AML procedures provided by Horizon Globex to preserve the identity of token holders. The digital signature confirming the identity of the holder is maintained by the company in the block network Ethereum, while actual identity documentation is securely stored by the transfer agent.