Swarm, Monarch Blockchain Wallet Partner To Add SWM And SRC20 Token Support
Swarm And Monarch Blockchain Corporation Announce Partnership to Support SWM and SRC20 Tokens
Monarch Blockchain Corporation has announced that it has entered into a strategic partnership with Swarm, a non-profit building infrastructure for the future of finance.
Through the partnership, all SRC20 security tokens, as well as the SWM utility token, will be supported on the Monarch Wallet. Also, the partnership will secure cold storage for all of the above and integration of Swarm's Market Access Protocol (MAP) into the upcoming Monarch Exchange.
There is no globally consistent and scalable way to buy and sell security tokens compliantly, so Swarm created the Market Access Protocol (MAP). The MAP is a solution that facilitates the efficient flow of compliant transactions while offering both privacy protection for participants and a framework for regulatory compliance. Monarch will be creating an in-app exchange by the first quarter of 2019, and the MAP will be integrated into the Monarch Exchange so security token holders can transact safely and compliantly.
Philipp Pieper, Co-Founder & CEO of Swarm said Monarch is a product and technology first company, which makes them an ideal partner for Swarm. Their universal crypto wallet and their roadmap of empowering tools and services will be a real driver of the mass adoption and we are thrilled that SWM, SRC20 security tokens, and the MAP will all be a part of Monarch.
The Monarch Wallet offers decentralized cold storage, meaning Monarch does not hold users’ private keys. This offers the maximum level of security and protection for token holders, one of the primary reasons Swarm is collaborating with Monarch. Its easy-to-use interface has separated it from the competition as well as having a portfolio tracker and market data all in the same app.
Sneh Bhatt, CEO of Monarch Blockchain Corp. said Monarch believes STOs are paving the way for compliant digital assets. They aim to support all security tokens on the Monarch Wallet, and with Swarm’s Market Access Protocol they will be able to deliver safe and compliant in-app security token trading.