Month: December 2023

December 14th, 2023

The Polymesh Association proudly announces the completion of a landmark integration between industry-leading white-label tokenization platform, DigiShares, and the Polymesh blockchain. 

The integration marks a pivotal moment for real world asset tokenization, as DigiShares now offers enhanced tokenization services on Polymesh for its global network of 150+ clients looking to tokenize large real estate assets. With DigiShares’ integration with Fireblocks, the self-custodial wallet infrastructure’s 1500+ institutional customers may also tokenize assets and funds on Polymesh directly via DigiShares’ solution.

As part of the integration, DigiShares also supports the migration of its clients’ existing ERC-1400 and ERC-1404 assets from Ethereum to Polymesh, embracing the shift towards tokenization on purpose-built infrastructure.

The DigiShares–Polymesh collaboration is the first completed project funded with Polymesh’s Ecosystem Development Fund. Its primary objective is to extend DigiShares’ tokenization platform to comprehensively support Polymesh by integrating Polymesh functionality including token minting, advanced token configuration, wallet whitelisting via approved KYC providers, and enforceable transfer restrictions.

Specifically, the integration with Polymesh equips DigiShares with offering the following capabilities for its clients: 

• Basic minting and advanced configuration of Polymesh security tokens
• Integration of onchain IDs into DigiShares’ KYC system
• Support for investors to transact in crypto and receive Polymesh-native tokens
• Dividend payouts and atomic swap smart contracts for peer-to-peer trading
• Secure custody of Polymesh digital currencies (e.g. stablecoins) and assets

“With its specialized focus on regulated assets and robust compliance and settlement infrastructure, Polymesh fits seamlessly with our mission to empower industries like real estate through the effortless tokenization and management of large assets,” says Claus Skaaning, CEO and Co-Founder of DigiShares. “By leveraging Polymesh’s unique features for security tokens, we can provide our clients with a highly secure ecosystem for transparent, efficient, and compliant transactions.” 

DigiShares, an early supporter of Polymesh, specializes in tokenizing large real world assets (RWA) such as real estate. Its platform enables the complete lifecycle management of security tokens, investor onboarding, KYC processes, and investor crypto wallet management. Its key features include an automated cap table for onchain transactions, streamlined investor onboarding, and an efficient bulletin-board trading system. 

“The integration with DigiShares solidifies not just the tokenization provider’s commitment to the Polymesh ecosystem, but the future of real world assets within a secure, compliance-capable environment,” says Graeme Moore, Head of Tokenization at the Polymesh Association. “We’re excited for the many large tokenized assets that will be unlocked and issued onchain by asset owners seeking to leverage the benefits of Polymesh for smoother, transparent transactions and expanded opportunities for liquidity and financial accessibility.” 

About DigiShares

DigiShares provides white-label solutions for the issuance, corporate management and trading of digital assets. With offices in Denmark, the US and Germany, DigiShares is a global provider of tokenization software for investment management, corporate management, and trading of tokenized securities. DigiShares has around 150 clients globally using its software.

Website: www.digishares.io | www.realestate.exchange

LinkedIn | Twitter

About Polymesh

Polymesh is an institutional-grade permissioned blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving challenges around governance, identity, compliance, confidentiality, and settlement.
Visit polymesh.network to learn more.

December 12th, 2023

Interups, a visionary wealth management startup, is at the forefront of transforming investment opportunities through the tokenization of non-traditional assets. Their innovative approach integrates traditional investment avenues with the burgeoning digital asset market. Focused on a multi-sectoral and non-conventional assets’ tokenization strategy, Interups plans to revolutionize investment in gold, rice, virtual food carts, whiskey, fractional plane seats, iron ore, residential square feet, renewable energy (solar) and carbon credits as systematic wealth and income multipliers.

Utilizing DigiShares’ platform, Interups will tokenize these intriguing and unique non-conventional assets to increase hope for the public in building wealth and income.  

Laxmi Prasad, Chairman & CEO of Interups, commented: “Our partnership with DigiShares is a cornerstone in our strategy to democratize investments in traditionally illiquid assets. By tokenizing everything from rice and whiskey to gold, airplanes, real estate and even carbon credits, we are not only diversifying investment portfolios but also paving the way for more inclusive investment opportunities. DigiShares’ technology and expertise are vital in achieving our vision of creating equal opportunity access for retail/common investors to these exciting and previously hard-to-access markets.”

Claus Skaaning, Co-Founder and CEO of DigiShares, stated about the partnership: “We are looking forward to working with Interups on this visionary project, leveraging our white label tokenization platform to meet their specific needs. We view Interups as a potential future global leader in this space.

About Interups

Interups stands as a beacon of innovation in asset investment, pioneering in the realm of tokenization and digitization. Their commitment goes beyond offering just the investment opportunities; they aim to transform how assets like agricultural products, precious metals, spirits, aviation, real estate, solar farms and carbon credits are owned and traded to yield income and wealth. Collaborating with industry leaders and governments, and harnessing the power of blockchain, Interups is not just changing the investment landscape but is also committed to sustainable and responsible practices in all the sectors we touch. Their Inclusive strategy ensures that their projects have a positive impact on the communities and environments they interact with.

Linkedin | Website

About DigiShares

DigiShares is the leading provider of white-label tokenization solutions for real world assets, combining token and investor management, corporate actions, and trading in an end-to-end turn-key solution. Their solutions enable asset owners and fund managers to digitize and automate processes, to reduce administrative cost, to reduce the ticket size in order to fractionalize and democratize and enable retail investors to participate, and finally to provide increased liquidity through the built-in marketplace that enables shareholders to trade their assets. DigiShares will also soon launch the world’s first blockchain-based exchange for real estate, RealEstate.Exchange.

Website: www.digishares.io | www.realestate.exchange

LinkedIn | Twitter

December 4th, 2023

Leading companies in the DeFi and tokenization ecosystem, Polygon and DigiShares, join forces to create a new DID framework for tokenization, securities-based DeFi dApps and institutional DeFi, tentatively named DITO (Decentralized ID for Tokenization).

For several years, various parties have attempted to introduce a standard for decentralized ID (DID). All attempts so far have failed, sometimes due to vendor lock-in, profit-taking, other times due to the technology not being good enough or insufficient marketing. Maybe the stigma of ID vs KYC vs anonymity has also hindered the development of a standard.

This is a great pity as it prevents the blockchain ecosystem from delivering on one of the major value propositions, namely interoperability. How will dApps be able to interoperate if there is no widely adopted standard for DID? How will the crypto ecosystem survive and flourish with new KYC requirements from regulators across the world (e.g., MiCA)?

The answer: with a single, trusted, high quality DID framework: DITO.

DigiShares and Polygon are collaborating to create a global framework for open, transparent, secure, flexible DID with the standardization of verifiable credentials. The credential framework proposed by DigiShares is the key factor to the introduction of interoperability between KYC providers, exchanges and platform providers. KYC providers Sumsub and Fractal ID will be among the first to be integrated into the new standard.

The framework will be based on Polygon’s ID technology of issuing verifiable credentials and designed with fields crucial for KYC. These credentials will be used for white-listing and verification of wallets which will enable compliant on-chain issuance and trading of tokenized assets in real time. Polygon ID works across all EVM-compatible chains and is not restricted to the Polygon PoS chain. Polygon ID was created as an identity infrastructure for Web3 following the principles of self-sovereign identity and privacy by default.

To ensure sufficient support from industry participants, a new DID framework must not be dominated by any single actor – or group of actors. It must not be tied to any specific ERC protocol such as other proposed DID standards. It must be open for any KYC or accreditation provider to use and to assign verifiable credentials. And it must be available for free for any dApp to use. Under no circumstances may it be tied to any specific vendor’s ecosystem. And under no circumstances may it be a source of revenue or profit for any actor in the ecosystem.

Polygon ID is the current best bet for a DID standard that can power the tokenization ecosystem and make it interoperable. Polygon ID is already supported by many industry participants and it can be extended to support tokenization requirements for wallet white-listing and ID verification.

DigiShares and Polygon are collaborating to create this extension of Polygon IDs verifiable credentials with the goal to create a general purpose and widely adopted DID standardization. Two leading KYC providers, Sumsub and Fractal ID, have joined forces to support the new framework.

Sebastián Rodríguez, VP of Product at Polygon, mentioned: “This effort from DigiShares aligns quite well with our objective at Polygon ID of creating an ecosystem of re-usable identity. The DITO initiative is a great way to bring together industry actors interested in combining tokenized assets with a compliant identity layer to agree on a common framework. Reusable frameworks favor interoperability and pave the way for eventually forming industry standards”.

Claus Skaaning, CEO of DigiShares, stated, “This is one of the last building blocks needed to make the tokenization ecosystem interoperable and cohesive. We believe that Polygon is exactly the right partner to make this happen”.

DigiShares is a market-leading provider of tokenization infrastructure and soon the operator of one of the world’s first blockchain-based exchanges for real estate (RealEstate.Exchange). Sumsub and Fractal ID are market-leading providers of KYC infrastructure for crypto & blockchain. Polygon is of course the market leading L2 chain in the Ethereum ecosystem but also an excellent business development organization.

We invite issuers, platform providers, exchanges, KYC providers, and dApp developers to come work with us to ensure that this becomes an open framework accessible to all.

Technically, the Polygon ID SDK for issuing verifiable credentials will be utilized for KYC providers to easily plug into the framework such that their KYC verification can be turned into a verifiable credential that is inserted into the user’s DID. DIDs can be created by trusted KYC providers and can expire after a period of time.

Collaboration with trusted KYC providers enables data integrity for the framework to be reusable on multiple platforms simultaneously. With this vision a user needs to verify their identity just once and afterwards is able to join any platform which supports the verifiable credential framework. 

The base of the verifiable credential framework will be expandable to suit the needs of parameters for different jurisdictions. These can include elements of the KYC verification such as liveness test, time of creation, KYC provider that created it, etc. In a way this can be compared to the popular ERC20 standard and its extensions, where the base layer stays the same to achieve standardization and companies build on top of it to extend its functionality to their needs.

The parties will create a central page where users can create their own DID – powered by various KYC providers – at a small cost in gas fees. Issuers and platform providers will be able to create DIDs for their users, based on credentials from trusted KYC providers.

Initially, all 150+ white label tokenization clients of DigiShares will get the option to create DIDs. Moreover, RealEstate.Exchange, the forthcoming blockchain-based exchange for the trading of real estate; will adopt the DID framework, in order to facilitate the transactions between 1,000s of listings and 100,000s of users.

Future plans include incorporating accreditation checks into the standard. To start with, Polygon, Ethereum and their test-net counterparts (mumbai, sepolia) will be supported. 

A number of wallets will be supported from the start, including Metamask, Altme, Verida, Wallid, Clv, etc.

To learn more or join us, reach out to [email protected] or [email protected]

https://www.digishares.io/
https://polygon.technology/
https://web.fractal.id/
https://sumsub.com/