Horizon Globex offers a suite of blockchain software applications for compliant issuance and secondary trading of digital securities. The firm has recently announced the launch of its Rescission Software Solution to help issuers solve the problem of a non-compliant token offering.  Globex President, Mark Elenowitz, presented the solution to regulators and legislators at the “K&L Gates Dialogue with the Regulations Forum” held Thursday, April 11th in Washington D.C.

How Globex Solution Works

Globex’s existing software suite works to bring an issuer’s token offering into compliance with securities law and exchange non-compliant tokens in consideration for newly issued compliant tokens. The solutions address the rescission needs of a “self-reporting” token issuer pursuant to working with their counsel to file the appropriate regulatory filings and execute the following process:

  1. Old tokens are returned in consideration for new tokens via a new smart contract
  2. A white-label KYC/AML app is created for issuers to onboard & re-verify investors
  3. New tokens are custodied by registered Transfer Agents to ensure proper control and records of investor identities and to protect the onward sale of securities
  4. New tokens are moved from custody to a regulated ATS for compliant secondary trading

At a Glance: Read our Security Token Offerings Quarterly Analysis Q1-2019

Products by Globex

  1. Custody Ware: It is a compliant transfer agent custody solution which support ERC20 registered and registration-exempt offerings.
  2. Tokenetics: Tokenetics is a platform to generate investment. The platform centres around an Ethereum ERC-20 compliant smart contract for your issuance.
  3. KYCware: It is reportedly the worlds most advanced KYC and AML service, integrated with your organization and protected with best-of-breed cryptographic security.
  4. AML Cop: It is a complete watchlist management sanctions and PEP screening. It helps in identifying and AML-score counterparties during the on-boarding process.

Globex has further relationships with licensed broker dealers in the United States, Europe and Asia. Globex has entered into a software license agreement with Tripoint Global Equities to provide them with software to support their BANQ® branded security token platform, together with a smartphone mobile user application, which they are currently developing.

Brian Collins, CEO of Globex stated “We’re already beginning to see the aftermath of the regulatory environment catching up with the explosive growth of token offerings. It’s more important than ever for issuers to look at their offerings and take actionable steps to verify compliance regarding issuance, KYC/AML, and secondary trading. We’re proud to provide issuers with a ‘compliance re-do’ button to fall back in line, do right by their investors and avoid costly enforcement from the regulators.”

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