Digishares, a Danish white-label platform for tokenizing real estate, is the first company to receive a grant from the Polymesh Ecosystem Development Fund (EDF). The EDF is a creation of the Polymesh Association, which is a part of Polymath, the company behind the Polymesh Network. The Polymesh Network is an institutional-grade, permissioned blockchain for regulated assets that was featured in Polymath’s Finovate debut last month at FinovateSpring.
The emergence of blockchain technology has led to a new era of financial innovation, with security tokens taking the spotlight as one of the most promising applications of the technology. Polymath, a leading security token platform, has been at the forefront of this movement, and its latest offering, Polymesh, aims to take security tokens to the next level. And with $10 million in funding to financially support companies and projects that can bring value to the Polymesh ecosystem, the platform is poised for even greater success.
One of the companies benefiting from this funding is DigiShares, a leading provider of tokenization solutions for private equity and other alternative asset classes. DigiShares received a grant for integrating Polymesh and expanding the Polymesh ecosystem to DigiShares’ network of clients and partners. This is a major step forward for DigiShares, which has been an early supporter of Polymesh and joined the company’s partnership ecosystem back in January 2021.
The integration of Polymesh into DigiShares’ tokenization platform is a significant milestone for the industry, as it will allow issuers to create and manage security tokens on the Polymesh blockchain. This will provide issuers with a greater level of security and transparency, as well as a more streamlined and efficient tokenization process. Additionally, DigiShares will facilitate the migration of its clients’ current ERC-1400 assets from Ethereum to Polymesh, further expanding the platform's reach.
DigiShares CEO Claus Skaaning is enthusiastic about the collaboration with Polymath and the potential of Polymesh to lead the security token space. “Polymath has been a long and trusted partner of DigiShares,” he said. “We believe that Polymesh has long-term potential to revolutionize the security token space and we are proud to support the platform.”
With the integration of Polymesh, DigiShares is set to continue its mission of providing clients with the best possible solutions for tokenizing alternative assets. And with Polymath's commitment to driving innovation in the security token space, the future looks bright for the companies working to bring the benefits of blockchain technology to the financial industry.
The grant award announcement arrives weeks after the Polymesh Association introduced its Ecosystem Development Fund, which itself follows the listing of Polymesh’s native token POLYX on Huobi, one of the largest cryptocurrency trading platforms in the world. The fund is a wager that financially backing businesses that can help promote wider adoption of Polymesh will prove an effective way to incentivize companies to build, integrate, and use the institutional-grade blockchain infrastructure.
“The Ecosystem Development Fund delivers two benefits to service providers,” Polymesh Association Head of Tokenization Graeme Moore said. “Successful applicants not only receive funding but they can also attract clients by adding a Polymesh integration to their roadmap.”
Founded in 2018 and headquartered in Aalborg, Denmark, DigiShares made its Finovate debut last year at FinovateSpring 2021. At the event, the company demonstrated its white-label tokenization platform for real estate, which adds both automation and liquidity to the property market. The DigiShares platform digitizes and automates both the financing and the corporate management aspects of real estate projects. The platform also provides a bulletin board marketplace that leverages blockchain technology and peer-to-peer trading without counterparty risk.
Among Finovate’s newest alums, Polymath demonstrated its Polymath Token Studio at FinovateSpring last month in San Francisco. The Token Studio is an interface that enables the user to create, issue, and manage blockchain-based securities. “Thanks to blockchain and tokenization we can reduce the costs of creating, issuing, and managing securities by over 90%,” Moore explained from the Finovate stage in May. “Banks, custodians, transfer agents, broker-dealers and these other service providers can give their clients new and fresh experiences, and we can create new securities and new financial instruments that previously weren’t possible.”
Polymath and the Polymesh Network are based in Zug, Switzerland. Vince Kadar is Polymath CEO.
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