CrowdEngine, a long time software provider in the online capital formation industry, has recently partnered with Aboveboard to “streamline the process of launching and managing a tokenized security.”
CrowdEngine provides a litany of securities crowdfunding solutions including offerings using Reg D, Reg S. Reg A+ and Reg CF. CrowdEngine can also provide intrastate crowdfunding services. More recently, CrowdEngine has moved into the security token offering (SCO) space as demand has increased for issuing securities on blockchain also enabling SAFTs or Simple Agreement for Future Tokens.
Aboveboard explains the new collaboration where CrowdEngine will power the offering, including KYC, AML accredited status and more, and Aboveboard will handle the post issuance token management;
“Once a token sale is launched, an issuing company needs to manage the security tokens for their full life cycle. Aboveboard’s integrated technology allows you to keep a real-time shareholder registry required to service shareholders and comply with the rules in Delaware and other corporate jurisdictions. The AboveBoard’s registry provides a control panel for the issuer to manage all permissions, communication, trading windows and corporate actions. AboveBoard implemented a multi-sig process that streamlines the handling of important responsibilities like issuing new shares, keeping custody of stock, and distributing stock.”
Aboveboard adds that its tech will allow for a real time shareholder registry that is compliant with Delaware and other corporate jurisdictions. Registry, and transfer, are two vital aspects of managing any security – whether they are on blockchain or not.
This past June, Aboveboard claimed to have become the first platform to distributed equity from a Delaware corporation on a public blockchain. The company used ERC20 tokens to “mint” the shares.