TokenSoft, a US licensed security token platform, has launched a new wallet that will make it easier for investors to self-manage their security tokens accounts, CoinDesk reports.
The new offering, which was revealed on Thursday, provides the platform users with an easy to use and highly secure wallet where they can hold as well as control their investments. The new product also comes with an automated dividend distribution as well as an in-built reporting mechanism for the token issuers. If a client has more than $1 billion worth of investments, they can use the multi-signature security tool. Mason Borda, TokenSoft CEO, expressed his gratitude for the new product. He said:
“We’re excited to bring a multi-signature wallet security packaged in a self-controlled, easy to manage brokerage-style experience to the over 100,000 investors using our platform.”
The new product by TokenSoft supports different security tokens which adhere to the set regulatory requirements such as Tezos’ FA1.2and ERC-1404.
According to the firm’s head of business development, Jordan Davis, the TokenSoft Investment Accounts wallet will add more pressure on financial companies to provide investors with improved services as well as management tools. He said:
“People will be able to add or remove service providers from accessing their assets the same way you can add or remove profiles from your Netflix subscription.”
Tokensoft’s subsidiary, DTAC LLC, obtained a transfer agent’s license from the U.S. Securities and Exchange Commission (SEC) which is an imperative step on the firm’s quest to introducing tokenization in the conventional securities and finance industry.
Borda has previously explained that TokenSoft is gearing to offer the technology necessary for companies to go for an IPO through putting the shares within a blockchain network or platform. Borda also explained that TokenSoft is developing the requisite aspects required for a virtual investment bank.