Blockpass and DSTOQ Work Together to Streamline Security Token Compliance
DSTOQ, the P2P security token trading platform recently announced a partnership with Blockpass, the data-secure identity verification system. With this partnership, they plan to implement a compliant equity and security token trading. The collaboration aims to streamline the area of security tokenization.
About The DSTOQ Exchange
DSTOQ is an exchange that seeks to leverage the power of the blockchain. With the growing popularity of crypto, it hopes to use the technology to create an efficient and low-cost exchange for average users.
In essence, DSTOQ is a blockchain-powered exchange that wants to enable investing in real-world security tokens using crypto. The trade intends to demonstrate a shift in security token trading using the fast executing and settlement time made possible by the blockchain. It is a licensed stock trading exchange that will also give users the ability to trade various security tokens like oil, bonds, gold, and ETFs using crypto.
The Basics Of How DSTOQ Works
Right now, the DSTQO exchange uses the Stellar blockchain as the foundation that will deliver the proof of concept. Besides that, the foundation will enable P2P security asset trading with settlements and trades taking 2-5 seconds. The DSTQO exchange also wants to ensure the transaction process is faster than at the traditional exchanges. They estimate that the blockchain offers 100,000 more speed for processing. Withdrawals take 2-5 from the first claim by the user.
Blockpass is a global service for the identity of the internet of everything. With the use of the blockchain and smart contracts, Blockpass was able to produce a Regtech platform that offers shared regulatory and compliance services for businesses, individuals, objects, and electronic devices.
Its identity system supports human verification via KYC, objects verification via KYO and connected devices via KYD. It will make it possible to develop new applications, which rely on trusted connections between businesses, humans, and tools. The company is registered in Hong Kong and formed as a joint venture between Chain of Things and Infinity Blokchain Labs. The company licenses its technology from a nonprofit foundation registered in the Isle of Man. With this partnership, Blockpass users will be able to use their digital identity to gain access to DSTOQ in just a few clicks. The existing DSTOQ users will be able to enjoy better ease-of-access to the platform.
What The Leaders Had To Say
According to Craig McGregor, the CEO of DSTOQ, the primary goal of this partnership is to make capital markets accessible to the masses. He added that these two companies share a vision of offering licensed and complaints solutions to grow the security tokens sector. The CEO concluded they chose Blockpass since it was one of the few operations blockchain-powered KYC services.
According to Adam Vaziri, the CEO of Blockpass, the token finance was on its way to becoming an essential part of the global financial system. He added that DSTOQ was ahead of the pack in this regard. The CEO concluded by saying he looked forward to working with DSTOQ to offer the solutions for the future of finance.