IOI Capital and Markets, LLC (IOICM), an SEC registered broker-dealer and a wholly-owned subsidiary of iownit capital and markets, Inc. recently announced the Financial Industry Regulatory Authority (FINRA) has approved its membership application. IOICM reported that the approval allows it to be a placement agent for digital private securities issued on the blockchain-based platform developed and operated by its parent company.
Founded in 2017, IOICM describes itself as a financial services and technology firm focusing on developing and implementing blockchain-based capital-raising platform. The company noted it is dedicated to building a regulatory compliant solution that brings 21st-century technology to new segments of capital markets. While sharing more details about the platform, IOICM CEO, Rashad Kurbanov, stated:
“Our platform has been built from the ground up over the past two years to completely digitize the securities issuance, asset lifecycle management and secondary trading processes to create a more efficient market. It is targeted for institutional and accredited investors only, providing tools to facilitate a seamless investment process, information sharing and ongoing portfolio management. We believe our platform will reduce friction in the market and reduce costs for all market participants, while importantly providing appropriate investor protections.”
“We spent a significant amount of time with FINRA and SEC staff on productive discussions working through the use of distributed ledger technology and how it can be implemented to provide a convenient yet secure platform. We are very grateful to the Staff for their patience, input and diligence throughout our membership application process. We are not here to ‘revolutionize’ investing, but we do intend to make it vastly more modern and less complicated for both issuers and investors to engage and transact.”