Fintech Pioneer Blockrules to Launch One of the World’s First Prospectus-Backed Global Security Token Offerings for Pharma ...
18 March 2019 - 6:00PM
Business Wire
BlockRules, the blockchain fintech company enforcing complex
compliance rules directly on the blockchain, today announces that
the first security token powered by its technology will be for
Verseon, a clinical-stage pharmaceutical company and BlockRules’
parent company. BlockRules will provide technology and services for
token launch, issuance, and trading.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20190318005265/en/
Token transfer using the BlockRules
Compliance Engine. Compliance checks happen on the blockchain.
(Graphic: Business Wire)
“We wanted to structure our STO as one of the first truly
international offerings backed by a prospectus,” said Adityo
Prakash, CEO of Verseon. “BlockRules provides the ideal solution to
realize this vision. Their technology will allow us to share the
future rewards from our innovations with investors around the
globe.”
BlockRules will facilitate the sale, issuance, and trading of
Verseon’s security token to a global investor base in accordance
with compliance rules as required by Verseon. For all transactions
involving the token, the BlockRules Compliance Engine will perform
compliance checks directly on the blockchain. Only those trades
that comply with applicable regulations will be allowed to proceed.
By operating directly on the blockchain, BlockRules technology
combines efficiency, security, and maximum transparency.
Verseon’s security token offering will be implemented on an
ERC20-compliant smart ledger on the widely deployed Ethereum
Network. Adopting a common standard on a public blockchain will
provide global access, a high level of security, and permit trading
peer-to-peer and on decentralized exchanges.
For any token launched on its platform, BlockRules will collect
and securely record investor information needed to enforce various
securities regulations for issuance and trading. BlockRules will
also maintain a record of all ownership transfers of the token.
“Verseon’s goal is to make their security token available to a
global investor base, so reliable, secure enforcement of
regulations across international borders is key,” said David
Williams, BlockRules Chief Technologist. “Our Compliance Engine was
built for just this purpose.”
About BlockRules Ltd.
BlockRules Ltd. is a blockchain technology company supporting
the regulations-compliant sale, launch, and trading of tokenized
securities. The company’s Compliance Engine can enforce
multijurisdictional regulatory compliance directly on the
blockchain. In this way, BlockRules facilitates issuance and
decentralized trading that is secure, transparent, and verifiable.
BlockRules is a wholly owned subsidiary of Verseon Corporation.
Find BlockRules on Twitter, Telegram and LinkedIn.
About Verseon
Verseon Corporation (AIM: VERS) is developing disruptive
life-science technology to advance global health. The
clinical-stage company is using its proprietary, computational drug
discovery platform to discover new drug candidates that are
unlikely to be found using conventional methods. Pairing its
computational engines with a comprehensive in-house chemistry and
biology workflow, the company has built a growing pipeline of drug
programs. Verseon currently has four active drug programs in the
areas of anticoagulation, diabetic macular edema, hereditary
angioedema, and oncology.
Find Verseon on Twitter and LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20190318005265/en/
BlockRules – Robert Taylormedia@blockrules.com
Verseon – Tina Schlaflyinfo@verseon.com+1 510 225 9014
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