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Jibrel Network raises $3m to enable licensed entities to sell tokenized securities

Jibrel Network, a protocol with built-in regulatory compliance that allows anyone to put traditional assets like currencies, bonds and other financial instruments on the blockchain, has announced the launch of their platform that will enable licensed entities to sell tokenized, compliant securities via the Jibrel Platform.

The regulatory-compliant platform is designed to be on-chain, meaning that all transactions will be written to the Ethereum blockchain. Tokens issued on the Jibrel Platform will be embedded with real-world rules and regulations, ensuring that assets can always remain compliant with relevant KYC/ AML laws.

Jibrel, who is about to close $3m USD in private investment from individuals within government and financial institutions, has been working on its next generation smart contract platform since mid-2016.

Yazan Barghuthi, Project Lead at Jibrel Network commented:

“Clarification from the SEC that certain tokens are in fact securities, and that all securities must be registered according to the law was the confirmation we were hoping for from the SEC. We’ve been building Jibrel in anticipation of the SEC stepping in to advise that the sale of digital assets must adhere to federal securities laws.”

“Basic consumer and investor protection principles need to apply in the digital asset world. We’re delighted that Jibrel will be at the forefront in this new era of regulated blockchain securities.”

“Given that project funding continues to be locked in smart contracts, there is a massive need for stable on-chain assets to protect against volatility, Jibrel delivers this.”

“For companies looking to host token sales, they must remain compliant, both off-chain and on-chain; off-chain by registering with the relevant regulatory bodies, and on-chain by ensuring their tokens are held and transferred lawfully. Our technology allows their tokens to remain fully compliant at all times, without the need to build-out dedicated compliance functionality.”

Jibrel is aiming to develop a comprehensive and holistic institutional-grade platform. The team has leveraged their combined thirty plus years’ experience in working with financial securities for leading management consultancies, Oliver Wyman, PWC, and Deloitte, to build the platform.

Upon launch, Jibrel will support six currencies and two money market instruments, but in the future, intends to provide equities, commodities, and futures.

Jibrel has also recently announced the launch of their token sale, which will enable investors to purchase JNT tokens that will power the Jibrel network. Token holders can use JNT to access the emerging crypto economy without the volatility and security risks, through selling a wide range of traditional assets on-chain.

Source:Jibrel Network

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