Securrency, a global financial services technology infrastructure and products company, announced on Friday the launch of its new Compliance Aware Token (CAT-20 and CAT-721) standards, which are interoperable ledger-agnostic security token protocols. According to Securrency, the security tokens minted with the CAT protocols are self-governing and ensure compliance throughout their life-cycle using Securrency’s innovative regulatory technology.
Securrency reported that CAT-20 and CAT-721 tokens may be issued from and transferred across any distributed ledger, including Ethereum, Stellar, Ripple, GoChain, and EoS among others. the firm also establishes compliance in primary offerings through features such as:
- Individual and entity automated Know Your Customer (KYC) and Know Your Business (KYB) across 160+ jurisdictions, with non-documentary verification available in 37 jurisdictions
- Transaction checks through a Know Your Wallet (KYW) service that automatically proofs and scores digital wallets and associated cryptocurrency
- Automated source of funds (SoF) verification services through an easy-to-manage administration service
- Validation of an investor’s accreditation or qualification according to the jurisdiction
Speaking about the token developments, Dan Doney, CEO and Co-Founder of Securrency, stated:
“We developed the CAT-20 and CAT-721 standards because security tokens should be truly liquid – they should not be limited to one ledger and they should be easy to trade, transfer and regulate.”
Securrency went on to add the CAT-20 and CAT-721 protocols are fully supported through Securrency’s proprietary Decentralized Investment Banking Services (DIBS), a complete suite of security token issuance and maintenance tools and services that can be easily deployed by investment banks, accessed via Application Programming Interface (API) by developers, and directly utilized by issuers.
Securrency, which was formed in 2015 by US national security and technology experts, has developed a unique Compliance Aware Token that embeds regulatory and transactional rules in a compliance layer to facilitate legally-compliant securities offerings globally. Securrency’s protocol can notably be utilized on the Ethereum, Stellar, Ripple, EOS and other distributed ledgers, as well as on legacy systems, allowing for seamless on-chain and off-chain movement of tokens.