RATE Group | TokenSoft Introduces New Ethereum-Based Security Token Standard
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TokenSoft Introduces New Ethereum-Based Security Token Standard

21 Sep TokenSoft Introduces New Ethereum-Based Security Token Standard

Posted at 11:18h in Ethereum News by

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TokenSoft’s engineering team has presented a new Ethereum-based security token standard. Called ERC-1404, the new code allows issuers more control over transactions.

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TokenSoft, a blockchain venture focused on securities tokenization, announced on Wednesday its engineers had developed a new Ethereum token standard called ERC-1404. The team posted its contribution to the Ethereum Improvement Proposal repository, but the new standard has not been approved yet. According to its creators, ERC-1404 is meant for security tokens, tokenized securities, and other types of tokens falling under complex compliance rules.

Security tokens are often developed on Ethereum but have a completely different functionality as they back real-world assets like shares in private companies or real estate.

The new standard is fully open-source, which is important for maintaining a high degree of security, quality, transparency, and interoperability. ERC-1404 was developed with a focus on banking,…

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