Templum LLC (Templum), a technology company that offers regulatory compliant solutions for Tokenized Asset Offerings (TAOs), today announced that it executed what is believed to be the first secondary transaction of a security token on a regulated platform. The transaction took place on Templum Markets and the Alternative Trading System (ATS) operated by its affiliated company, Liquid M Capital.
TAOs are initial coin offerings that are conducted in a manner that complies with U.S. securities laws by relying on exemptions from registration with the SEC by relying on the safe harbor of Regulation D or Regulation S, or that are registered with the SEC and sold under Reg A. In addition, Templum Markets provides Know Your Customer (KYC) and Anti Money Laundering (AML) processes within its solutions.
Chris Pallotta, co-founder, and chief executive officer of Templum, said:
“Since inception, we’ve sought to develop safe and secure trading platforms for the issuance of TAOs and the secondary trading of tokenized assets in a manner that is compliant with U.S. securities laws. Vibrant secondary markets for digital assets are crucial to the development of the asset class and the acceptance they are securities subject to applicable laws, rules and regulations is a key part of their development. We are exceptionally proud of the Templum Markets team and what we believe to be the first secondary transaction of a security digital asset.”
Templum Markets is currently accepting subscriber requests for access to the platform and intends a full launch in the coming weeks.
Templum Markets brings together institutional and accredited investors to purchase and sell securities tokens in an efficient and transparent manner utilizing Templum technology. The secondary transaction involved institutional investors seeking to transact in BCAP, a tokenized LP interest in Blockchain Capital. Blockchain Capital is one of the first venture capital funds to raise capital via a token offering. At a time when tokens face regulatory uncertainty, Blockchain Capital conducted an offering of limited partnership interests using Rule 506(c) of Regulation D, and Regulation S. As a result, each BCAP token is a private, unregistered security representing a limited partnership interest in the fund.
“Templum Markets provided a seamless experience for the transaction and Blockchain Capital is looking forward to its full launch,” said Brad Stephens Co-Founder Blockchain Capital.
Due to the lack of liquidity of private securities, Templum believes that it can provide access to liquidity to investors and securities token holders through blockchain technology.
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