Blockmoon Crypto, a blockchain-asset platform for tokenized fund managers has announced a slight rebranding of the name of its product. As of now, the name of the product as a service will no longer be called “Blackmoon Crypto” but simply just “Blackmoon”.
The Blackmoon team said, “if you ask us why we decided to this, there was no single major reason. It was a mutual team decision and in no way affects our goal to become the benchmark solution/platform for asset managers to create and manage tokenized funds. Please note that our token will remain to be called BMC.”
In recent updates, the team said company developers are currently working on the token fund interface and BMC account dashboard expecting a beta version to be ready by the end of February.
The contracts framework is complete and will act accordingly to BMC business requirements and in compliance with any existing country regulations where they are planning to operate. Now Blockmoon is in the stage of testing prototypes and other metrics such as “gas estimates” and other fine tunings in order to improve the economics of the smart contract.
Secondary Market Development (Fund tokens)
Blackmoon says they are looking for a licensing foundation for secondary trading of fund tokens. As experienced crypto investors may know, all currently operating crypto exchanges don’t allow trading of asset-backed tokens because of securities regulation-related issues.” The company says they are in discussion with advisors from Gibraltar, Montenegro, Cyprus, Cayman Islands and the Republic of Belarus on this matter to receive the necessary confirmations from local regulators on launching the trading platform in these jurisdictions.
Currently, Blackmoon understands that it’s possible to get necessary licenses/permissions ready by May 2018. It will not have an impact on the launch of the main platform which is scheduled for March 2018.
It means that according to our roadmap Blackmoon will have two stages of the platform release: primary market and initial issuance of fund tokens by the end of March and secondary market with trading capabilities by the end of May.