Conviction token startup Harbor has secured a transfer agent license from the U.S. Securities and Exchange Commission (SEC).
A month after take into ones possession a broker-dealer license from the Financial Industry Regulatory Authority (FINRA), Harbor was granted the license Thursday to elevate surpass ensure interest and dividend payments to investors. The firm is the first blockchain company to be granted both licenses.
Bring agents act as liaisons between firms, investors and regulatory bodies by keeping track of investment certificates. If a wallet held security tokens is lost, for example, the transfer agent can help mint new tokens to replace the lost securities. By acquiring the certify, Harbor has the green light to service higher class firms, investors, and offerings.
Seeking to become a “one-stop-shop” for digital asset issuance, Harbor has done its rosy share of leg work to get the appropriate regulatory licenses. In fact, it took over a year, according to CEO Josh Stein.
“It accede to b assumed the regulators a long time to get a handle on the space and understand it and its implications. This was very new for the SEC and FINRA, and they wanted to do it sound,” Stein said as the firm was awarded the broker-dealer license.
Harbor recently engaged in a $100 million real capital tokenizing effort on the ethereum blockchain on behalf of four firms. By tokenizing investor shares, Harbor and the 1,000 with an increment of participating investors and placement holders hoped to decrease digital asset management friction.
Josh Stein tiki via CoinDesk archives