Security initial coin offering (ICO) specialists Polymath has announced a partnership with tZero. The Overstock subsidiary is currently hosting its ICO on SaftLaunch enlisting institutional investors for its security offer.
Apparently, Polymath has already provided advice to tZERO on the design, economic model, and distribution of tZERO’s security token, which will be issued under Reg D 506c – thus only accepting accredited investors in the US. tZero’s ICO is expected to raise $250 million with proceeds applied toward the anticipated development of a regulated trading platform for securities tokens.
Polymath wants to be the industry first security token launch pad becoming the open-source standard for launching securities tokens. Polymath guides companies through every step of the token launch process, while also ensuring strict legal compliances are met which is very important. The ICO industry is quickly becoming regulated around the world. The US SEC has been increasing its rhetoric on token offerings that do not apply for an appropriate exemption. ICOs will soon become completely legitimate.
“tZERO is on the precipice of disrupting Wall Street as we know it, says CEO of Polymath Trevor Koverko. “Our goals are similar—to create a thriving security token industry and allow companies and investors greater access, transparency and efficiency to an emerging token economy. We are excited to work with tZERO to provide ongoing consultation and support to the build out and distribution of the tZERO token, which will be a preferred equity token for tZERO.”
President of tZERO Joe Cammarata explains they are doing something unique: creating the first ever preferred equity security token.
“Projects of such innovation require best-in-class partners, and so we are excited to bring Polymath on as advisors.”
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