The London-based institutional digital securities exchange has partnered with security token platform Polymath to support tokens that are created using Polymath’s ST20 standard. Archax plans to launch its institutional-focused digital asset exchange. Its application to run a multilateral trading facility (MTF) in London is under review by the FCA.
Polymath specializes in the issuance and management of regulated assets so that real-world assets – such as equity, debt, funds, property, etc – become tokenized using blockchain technology. The process removes friction and middlemen as well as brings liquidity to the market with the creation of global secondary markets that are available 24×7.
Graeme Moore, Head of Tokenization at Polymath, commented: “At Polymath, partnership is part of our DNA. While we make it easy for firms to create and manage security tokens, we rely on the expertise of our partners for areas like secondary trading. We’re thrilled to work with Archax to provide security token issuers with an end-to-end solution for security token creation, management, distribution, and liquidity.”
Graham Rodford, CEO of Archax, added: “We are building the first truly global and institutional digital securities exchange based out of London and are looking to list credible token projects from across the world. Partnerships with leading players like Polymath ensure we are integrated into the emerging tokenization ecosystem and we look forward to working with them and their clients, providing a secondary trading venue for tokens created using their technology.”
Archax has recently appointed Alex Royle to its executive committee as the new Chief Compliance Officer. Royle served as a part of the UK’s regulatory authority for a total of two and a half years during which he served as part of Equity Market & Derivatives Market Supervision teams and a member of the MTF/OTF Trading Venue Supervision. He led the supervisory effort of a number of the most innovative MTFs at the FCA.
In late 2019, Archax partnered with R3 in order to use the enterprise blockchain software firm’s Corda Enterprise platform to handle post-trade activities on a distributed ledger. Archax will use a private version of Corda Enterprise within its own ecosystem to handle post-trade activities.
Regarding data protection, the exchange partnered with Unbound Tech which operates its Distributed Trust Platform to protect data, such as cryptographic keys, credentials or private information, by ensuring it never exists in complete form as it negates the need for hardware wallets. Its software uses Multi-Party Computation mathematics to split cryptographic keys into parts that are never again united, completely eliminating the single point of compromise for the most sensitive of assets.
