Sep 5, 2018 – Polymath, a platform that makes it easy to create security tokens, is working with Monarch Wallet, a decentralized universal wallet, to provide custody solutions for ST-20 security tokens.
- Liquidity for private entities
- Reduced trade fees and settlement time
- Automation of back-office functions
- enchanced transparency
To increase the adoption of security tokens, reliable custody providers are needed. This is why Polymath, decided to work with Monarch Wallet. The Monarch Wallet offers fully decentralized cold storage where users exclusively hold their private key for added security benefits, and they currently support over 1,500 cryptocurrencies, including all ERC20 and ERC223 tokens.
With Monarch Wallet, issuers of security tokens on the Polymath platform can safely store the POLY they collect during their fundraise, and investors can safely store the tokens they receive from the issuer. Polymath will be listed as an official partner on the Monarch Wallet, and Monarch Wallet will be listed as a custody provider on the Polymath platform.
“Polymath is excited to explore this collaboration with Monarch to increase the adoption of security tokens and lead the next paradigm shift in the security token space. We are aligned with Monarch in our focus on regulatory compliance and the best possible user experience.” -Trevor K, CEO of Polymath
Monarch’s easy-to-use wallet and secure custody solution provide a perfect match to help with the adoption of security tokens. Additionally, Monarch Blockchain Corporation is conducting its own STO, so the two teams are aligned in their vision for the future of token sale offerings.
“We at Monarch believe STOs are paving the way for compliant digital assets. Polymath provides a unique regulatory and legal structure for security tokens and we are excited for our joint effort as security tokens become more prevalent.” -Sneh Bhatt, CEO of Monarch Blockchain Corp.