TokenSoft Now Supports 40 Act Funds

TokenSoft, a digital securities issuance platform, is now supporting ’40 Act Funds, according to a company release.

Arca Capital Management President Jerald David announced their decision to utilize TokenSoft as they move forward with their US Treasury Fund (Ticker: $UST), a digital security, which is pending SEC approval.

“TokenSoft’s ability to support our needs in building a ’40 Act compliant token offering was the main reason we chose them to partner with our registered fund offering. They understand the unique needs for open-ended funds with on-going issuances and redemptions, and have been very helpful in our registration process,” said David.

The $UST token will represent an interest in the fund composed primarily of U.S. Treasuries providing a low volatility token and an effective stablecoin.

Mason BordaMason Borda CEO of TokenSoft said that adding support for ’40 Act Funds brings together a lot of tools they have built into one offering from “on-going issuances and dividend support to integrations with transfer agents.”

As part of the process, investors in $UST must pass Know Your Customer and Anti-Money Laundering (KYC/AML) checks which will be added to the smart contract’s whitelist built on the ERC-1404 standard. TokenSoft claims this is unique for registered offerings that do not need to limit sales to accredited investors only.

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