RATE Group | Tokensoft Distributes $4M in Equity to Investors Using Ethereum Blockchain
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Tokensoft Distributes $4M in Equity to Investors Using Ethereum Blockchain

24 May Tokensoft Distributes $4M in Equity to Investors Using Ethereum Blockchain

Posted at 08:32h in Cryptocurrency News by

Tokensoft, a digital securities platform for enterprises and financial institutions, has used blockchain tech to distribute equity to investors in a $4 million funding round.

The seed round, which commenced in July 2018, was co-led by Base10 and e.ventures, with Coinbase Ventures and Fidelity-affiliate Avon Ventures also participating.

The investors receive a digital representation of their investments (based on a Simple Agreement for Future Equity, or SAFE, model) on the Ethereum blockchain using the ERC-1404 tokens to ensure the SAFE agreements will be enforced on-chain. The ERC-1404 standard is used for accounting and compliance purposes.

“While many in the industry speak of the benefits of digitizing private capital markets, Tokensoft has actually done this with its own shares,” said investor Meltem Demirors, a who has been working with the Tokensoft team since 2018, in a press release.

“I have the ability to hold shares in my wallet, receive dividends, bids or offer…

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