The Stratis STO platform is now ready to be utilised and deployed to conduct Security Token Offerings. It has been built through regular dialogue with clients that are engaging with the U.S. Securities and Exchange Commission (SEC) guidelines, ensuring it is compliant with SEC regulations. It conforms with both Know Your Customer (KYC) and Anti Money Laundering (AML) laws and has undergone rigorous testing in order to ensure it meets all legal requirements for hosting an STO. These requirements are regularly updated and we will continue to modify its platform as required.
The platform is an adaptation of the existing Initial Coin Offering (ICO) platform and includes additional legal features to ensure it is suitable for security token issuance. It allows companies and organisations to run a secure and flexible web-based application on the Stratis blockchain to issue tokens to investors. The STO platform has been built using C# and the .NET Core, the most popular enterprise programming language on the most widely-used enterprise framework, making it easily accessible for businesses and developers.
Key features of the STO platform include:
The platform accepts payment in both fiat currency (USD) and cryptocurrency (BTC and STRAT). It uses currency data from multiple providers to ensure that STO participants benefit from real-time token pricing.
ID-based token issuance
The platform creates unique user IDs that allow the STO administrator to reliably and securely accredit tokens once an individual makes a wire transfer. This ID-based system ensures compliance with KYC and AML laws.
Wallet-based platform for added security
Stratis utilises hierarchical deterministic wallets rather than autonomous smart contracts to add an additional layer of authority and security.
While building the STO platform, we have been working closely with our partner Gluon, a platform that establishes an interconnected network of vehicles, allowing users to diagnose, track and monitor issues using IoT devices, AI and blockchain. We have been assisting Gluon with fulfilling all its legal requirements to register its GLU token with the SEC. Gluon is now in the later stages of the registration procedure and is expected to become the first company to issue a security token on the Stratis platform next year.
Stratis CEO, Chris Trew, said:
“We are delighted to launch our STO platform, one of the key milestones of our 2019 Development Roadmap. The STO platform builds on the functionality of the Stratis ICO platform with the addition of several new features that satisfy the rigorous regulatory requirements needed to conduct STOs. Our STO Platform is highly secure, flexible and scalable, making it easy for businesses of any size to raise money through the tokenisation of their assets.”