March 7, 2019 – Canada / Barbados / Gibraltar – Polymath (www.polymath.network), the global leader in software solutions that enable assets to be digitized, distributed, fractionally owned, and ultimately liquidated has formed a consortium in close collaboration with KABN (www.kabn.network), a global financial services platform that has developed, among its suite of products, a patent pending, blockchain based, GDPR compliant, Always On, global identification and accreditation as a support service for investors and other types of contributors.
Polymath is leading the efforts to make it easier for organizations to create digital securities from traditional assets through partnerships and a community that supports a transparent and compliant process for issuers and investors. Through its extensive service provider network with firms like KABN, Polymath provides security token issuers with access to top quality service providers.
“Our solution supports the creation of digital securities from a wide range of traditional and non-traditional assets,” said Kevin North, CEO of Polymath. “The intention of this partnership is to create a best practice model for customers who need help with the full lifecycle of an STO (Security Token Offering). In this model, the issuer would work with an integrated network of providers who are committed to ensuring that offerings are compliant with securities laws, rules, and regulations across multiple jurisdictions and trading platforms, increasing the value proposition by reducing the distance and friction between investors and issuers. To date, the full STO path is not clear for most of our issuers, so we formed this partnership with the intention of making this a less daunting journey.”
KABN will also be the first organization to launch its digital securities offering using this process. More information about the KABN Security Token Offering can be found at: www.KABNtoken.com
“Working with Polymath, KABN supports the compliance requirements for digital securities with its Always On solution providing a faster, better and more economical solution for issuers and investors to validate and verify identity, KYC and AML, and manage liquidity programs,” said Ben Kessler, CEO of KABN. “KABN is also the first company to tokenize its company assets and create digital securities with this process, proving the model and paving the way for others to do the same in a manner that meets jurisdictional securities rules and regulations and supports a value proposition for stakeholders, the Blockchain community, issuers and investors.”
Polymath and KABN are receiving overwhelming support from the capital markets and blockchain communities as it introduces the framework to program partners to advance the creation of digital securities and make it easier for issuers and investors to interact through decentralized platforms globally.
Together with Pegasus Fintech (Gibraltar) Limited, a consultant organization, a consortium of Professional Service providers, Broker Dealers, Blockchain Developers, Exchanges, Authorized Agents and other Solution Providers have committed to supporting this process and the KABN Token offering. The initial parties committing their support to this growing consortium include:
MLG Blockchain (Canada)
Hyperion Technologies (US)
Crypto SA (Australia)
Ten Capital (US)
Razlin Capital (UK)
Global Blockchain Network (US)
Evoke Capital (Canada)
Secure Digital Markets (Canada)
Digital Assets Management (Gibraltar)
For more information, please contact (which websites are not incorporated by reference into this press release):
RJ Reiser, CGO
Ben Kessler, CEO
About Polymath (www.polymath.network)
Polymath Network (Polymath) is a decentralized platform that makes it easy to create security tokens. The platform simplifies the complex technical challenges of creating a security token and aims to bring the multi-trillion dollar financial securities market to the blockchain.
About KABN (www.kabn.network)
KABN, a integrated financial service platform offering neo banking type solutions, has received approval by Visa to launch its crypto-linked card and banking wallet program. KABN has partnered with Transact Payments Ltd, a European e-money institution and Principal Member of
Visa, global processor GPS and platform technology provider Panovate to launch the program in the UK and subsequently the EEA in the 2nd quarter of the year.
Branded the Pegasus Flyte Visa card, the KABN card program offers an “on/off ramp” conversion process for a variety of cryptocurrencies to fiat together with multi-currency fiat transactions. Cardholders will be able to use their Pegasus Flyte Visa cards to spend in-store, online, and at ATMs wherever Visa is accepted globally.
The Pegasus Flyte program will also offer a robust loyalty and customer engagement platform. The anchor of the program is KABN ID, a Blockchain and biometrically-based, “Always On” validation and verification process. This patent-pending, GDPR compliant process allows for efficient and frictionless customer acquisition and onboarding.
About Pegasus Fintech (www.pegasusfintech.com)
Pegasus Fintech is a full-service Blockchain, technology and accelerator growth advisory that supports regulatory compliant programs and offerings.
Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate”, or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking
statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these
forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.