Tokenized Asset Firm TokenSoft Joins Ripple, Coinbase, and Others in Blockchain Association
- TokenSoft joins the U.S. based blockchain lobby group, Blockchain Association (BA).
- Regulatory pressures, compliance, and educating the regulators key to TokenSoft’s move.
- TokenSoft’s CFO joins the Association as the STWG lead.
TokenSoft, a U.S based tokenized asset management firm, joins a corporate list of blockchain firms in its latest move to join the Blockchain Association (BA). According to an official announcement on Medium, TokenSoft’s executive and Chief Legal Officer, Alex Levine, will also join the Association’s Security Token Working Group as the lead.
The Washington D.C based lobby group comprises some of the top firms in the blockchain industry including Ripple, Coinbase, as well as Circle, Digital Currency Group (DCG), and Polychain Capital. The Association aims at educating and championing blockchain to regulators in a bid to boost the adoption of the technology.
TokenSoft provides a platform for industrial players such as funds, financial institutions, and enterprises willing to launch digital assets directly to over 50 markets. Joining the Association will allow the firm to share its experience in a wide range of skills including the securitization and tokenization of assets. The company will provide guidance and compliance measures in this respect.
Kristin Smith, Executive Director of the Blockchain Association believes the addition of TokenSoft to its already wide range of companies will add to the expertise needed to “spur the blockchain economy’s growth.” Kristin further said,
“Securities law remains a vital issue and the TokenSoft team provides an important perspective in support of a pro-business and pro-consumer regulatory solution.”
The team will mainly focus on enhancing the regulatory guidance by guiding on the possibilities of blockchain-based security tokens offer over the traditional financial systems; guidance on the innovation prowess and automation aspects of blockchain to enhance accountability, and reduce error in transactions, and educating the regulators on how to set standards and rules governing the system.