Blockchain Finance Fintech News

Oasis Pro Inc. Increases Collaboration with Polymath as the Newest Node Operator on its New Blockchain Polymesh

Oasis Pro Inc. Increases Collaboration with Polymath as the Newest Node Operator on its New Blockchain Polymesh

Oasis Pro Inc. and Polymath collaborate further on Polymesh to increase transparency and efficiency in capital market while maintaining compliance and privacy

Oasis Pro Inc. (Oasis), majority owner of Oasis Pro Markets, the first US-regulated Alternative Trading System (ATS) authorized to allow users to trade digital securities and make payment for those securities with digital cash, is joining the expanding network of node operators on Polymesh, a blockchain purpose-built by Polymath (currently in testnet phase) specifically for security tokens. This comes shortly after the two companies announced the establishment of international consortium transfer agency 1transfer LLC in conjunction with various other technology leaders from Alternative Trading Systems (ATS), broker-dealers, cryptocurrencies, and fintech.

Toronto-based software company Polymath built the Polymesh blockchain after recognizing five major barriers preventing blockchain’s full entry into the regulated financial industry: governance, identity, confidentiality, compliance, and transaction finality. Polymesh overcomes these barriers to meet the needs of regulated capital markets through key design principles built into the chain at protocol layer. Polymesh is a permissioned blockchain that requires node operators to be known, verified, and trusted capital markets participants like Oasis.

Read More: Emart to Acquire eBay’s Businesses in Korea

“Security tokens have immense potential to transform capital markets. Polymath stands at the forefront of influential security token technology by building blockchain infrastructure that captures the transformative power of the chain, while meeting capital markets requirements not traditionally met on public blockchains,” said Pat LaVecchia, CEO of Oasis. “As a permissioned blockchain specifically for securities, Polymesh is an attractive alternative that brings the benefits of blockchain, transparency and efficiency, while overcoming problems of compliance and confidentiality seen on public chains.”

Oasis Pro Markets is the first US-regulated ATS for raising capital via digital securities with a secondary trading platform authorized to allow users to trade digital securities and make payment in digital cash (i.e., stable coins or central bank digital currencies) in addition to fiat. The company’s mission is to bridge the world of traditional finance and decentralized finance and lead in digital securities innovation by leveraging blockchain and smart contract technology to expedite the transfer and settlement of assets.

Read More: Deutsche Bank Partners with Oracle to Accelerate Technology Modernization

“We’ve been working alongside Oasis to standardize and streamline digital transfer services and are excited to collaborate further on Polymesh to foster institutional adoption of security tokens,” said Chris Housser, Interim CEO of Polymath. “Polymesh has been carefully designed to handle regulated assets efficiently while ensuring compliance and reputable node operators like Oasis are an important part of the picture.”

Read More: Financial Institutions Can Now Provide Consumers Easy Access to Bitcoin via Fiserv and NYDIG

Related posts

FICO Launches Powerful Next-Generation Originations Solution for Digital-First Account Openings

Fintech News Desk

AI-Powered Fintech Expend Celebrates Impressive Start to Crowdfunding Campaign

Fintech News Desk

Wolters Kluwer Announces CCH Tagetik Smart NOW Cloud Apps for Planning to Help Clients Manage During Economic Uncertainty

Fintech News Desk