NEO Global Development (NGD) and Liquefy have partnered for the development of a security token ecosystem backed by NEO blockchain. With this partnership, asset owners will be able to easily issue NEO backed security tokens.
Aim of this Partnership
The Liquefy Platform will support NEO which in turn will allow NEO stakeholders to gain access to the security token space. NEO is a leading protocol that utilizes blockchain technology and digital identities to tokenize assets and automate the management of tokenize assets using smart contracts. The recent update to NEO 3.0 allows it to scale and build a fully-integrated tokenized economy.
The current process of transferring private securities is fragmented, cumbersome and expensive since KYC information of investors are segregated across multiple intermediaries and compliance is a time taking manual process. Liquefy is solving a critical pain point in the market by providing an end to end solution from issuance, managing compliance across multiple jurisdictions to investor management services.
Adrian Lai, CEO of Liquefy stated “It is important to develop a security token standard while the industry is still in its infancy. What separates NEO from other public blockchain protocols is the integration of NeoID, allowing KYC, AML and accreditation status to be stored onchain while maintaining privacy. It allows issuers to monitor and maintain records of all transactions in the secondary market to remain compliant in multiple jurisdictions.”