The SEC issues Transfer Agent License to security token platform Harbor – Cryptocurrency News

The SEC has issued a transfer agent license to a digital platform for alternative investments. Harbor also holds a broker-dealer license. The latest achieved permit will allow the platform to maintain financial records of security token possession, track account balances, and pay returns as it attracts blockchain firms seeking to conduct a Regulation A+ offering. The CEO, Joshua Stein, represents optimism and reveals that both the licenses will compliment each other.

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Harbor, a digital platform for alternative assets, has secured itself the transfer agent license from the US Securities and Exchange Commission. Joshua Stein, the firm CEO, acknowledged the achievement and unveiled that his blockchain-enabled security token platform has now become the first blockchain company to receive both, a transfer agent license and a broker-dealer license.

The granted permit will allow Harbor to manage monetary documents of security token ownership, trace account balances, and give returns as it simultaneously interests blockchain firms looking out to conduct Regulation A+ offerings. Stein stated that both the two permits, transfer agent and broker-deal will be mutually supportive and will enhance the firm to carry out the full life series of security token issuance together with the regulated trading.

“Think of the entire life cycle of this; there is selling the investors into the investment, maintaining the investment while they are in, and controlling how they are traded. The broker-dealer is mostly involved in gaining the investors into the investment. The transfer agent maintains the records while they are in and pays out dividends, and the transfer agent controls when they payout.”

Reg A+ is an initial public offering set up to support startups requiring early funding. This IPO was inaugurated in 2012 through the “Jumpstart Our Business Startups Act,” and the SEC needs companies to connect with transfer agents to perform them.

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Saloni Sheelwant
Saloni Sheelwant treasures to research and write about the new startups and technologies thriving at a very fast pace.

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