LONDON–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/STOs?src=hash" target="_blank"gt;#STOslt;/agt;–BlockRules, the blockchain fintech company enforcing complex compliance
rules directly on the blockchain, today announces that the first
security token powered by its technology will be for Verseon, a
clinical-stage pharmaceutical company and BlockRules’ parent company.
BlockRules will provide technology and services for token launch,
issuance, and trading.
“We wanted to structure our STO as one of the first truly international
offerings backed by a prospectus,” said Adityo Prakash, CEO of Verseon.
“BlockRules provides the ideal solution to realize this vision. Their
technology will allow us to share the future rewards from our
innovations with investors around the globe.”
BlockRules will facilitate the sale, issuance, and trading of Verseon’s
security token to a global investor base in accordance with compliance
rules as required by Verseon. For all transactions involving the token,
the BlockRules
Compliance Engine will perform compliance checks directly on the
blockchain. Only those trades that comply with applicable regulations
will be allowed to proceed. By operating directly on the blockchain,
BlockRules technology combines efficiency, security, and maximum
transparency.
Verseon’s security token offering will be implemented on an
ERC20-compliant smart ledger on the widely deployed Ethereum Network.
Adopting a common standard on a public blockchain will provide global
access, a high level of security, and permit trading peer-to-peer and on
decentralized exchanges.
For any token launched on its platform, BlockRules will collect and
securely record investor information needed to enforce various
securities regulations for issuance and trading. BlockRules will also
maintain a record of all ownership transfers of the token.
“Verseon’s goal is to make their security token available to a global
investor base, so reliable, secure enforcement of regulations across
international borders is key,” said David Williams, BlockRules Chief
Technologist. “Our Compliance Engine was built for just this purpose.”
About BlockRules Ltd.
BlockRules
Ltd. is a blockchain technology company supporting the
regulations-compliant sale, launch, and trading of tokenized securities.
The company’s Compliance
Engine can enforce multijurisdictional regulatory compliance
directly on the blockchain. In this way, BlockRules facilitates issuance
and decentralized trading that is secure, transparent, and verifiable.
BlockRules is a wholly owned subsidiary of Verseon Corporation.
Find BlockRules on Twitter,
Telegram
and LinkedIn.
About Verseon
Verseon
Corporation (AIM: VERS) is developing disruptive life-science
technology to advance global health. The clinical-stage company is using
its proprietary, computational drug discovery platform to discover new
drug candidates that are unlikely to be found using conventional
methods. Pairing its computational engines with a comprehensive in-house
chemistry and biology workflow, the company has built a growing pipeline
of drug programs. Verseon currently has four active drug programs in the
areas of anticoagulation, diabetic macular edema, hereditary angioedema,
and oncology.
Find Verseon on Twitter
and LinkedIn.
Contacts
BlockRules – Robert Taylor
media@blockrules.com
Verseon – Tina Schlafly
info@verseon.com
+1
510 225 9014