Quantcast
Channel: CodeSection,代码区,网络安全 - CodeSec
Viewing all articles
Browse latest Browse all 12749

New Private Security Startup, Abacus Secured $2 Million From VCs

0
0

Cryptocurrency market has crashed to its lowest level in 2018 but managed to get a greener graph in early today, as per coinmarketcap. However, this might be the reason at some point on why investors, analysts, and VCs are still confident in the future of cryptocurrency and its underlying technology thus investing million dollars in new startups.


New Private Security Startup, Abacus Secured  Million From VCs
Abacus Raised $2Million To Encouraged Tokenized Liquidity Program

KuCoin exchange was the latest crypto trading platform reported by Coingape that has secured the funding of $20 million from VCs. Nevertheless, the team has researched yet another crypto firm called ‘ Abacus ’ that has raised $2 million to aid investors and startups for managing their tokenized liquidity programs. Specifically, it has raised $1million from investor Justin Kan and serial entrepreneur whereas the other players in funding round of Abacus was ‘Y Combinator (YC) and Coinbase’.

Abacus is a brain child of Pradyuman Vig and Ian Macalinao developed to streamline the overall mechanism of tokenized securities. According to reports, it will help SEC and other auditing team to scrutinize the security by doing both automating ‘the compliance for tokenized security transactions as well as to keep track of chain of custody of private securities’ . Moreover, the founding team notes that it helps them from the issuance of tokens to administration and settlement the tokenized securities on blockchain via smart contracts.

Coinbase to Be First Exchange Partner of Abacus

Coinbase exchange with its funding contribution towards Abacus will possibly count among its ‘first exchange’s partners. Beside Coinbase, Abacus is also focusing on the other market leaders, in fact, it has already partnered with a New-York based P2P trading platform called AisSwap. Furthermore, it is closely looking at ‘Chicago-based exchange ‘OpenFinance’ to join hands with which is presently planning to begin trading its first security token.

Vig notes that “We don’t have a formula yet for our SaaS Model,” by adding that“It depends on the number of people involved in a particular offering, and how complicated compliance is.” The Revenue and The Vision

Indeed the key mission of Abacus is to make private security trading more transparent but still, the firm’s operation is very small. Vig asserted that they are programmatic and automatic’ and doesn’t need ‘an army of engineers’. Moreover, they are already working with a Texas-based VC firm, SpaceFund and gaining a significant portion of revenue. Vig notes that

“We don’t have a formula yet for our SaaS Model,” by adding that“It depends on the number of people involved in a particular offering, and how complicated compliance is.”

The core idea that Abacus is supporting to SpaceFund is that the same investors can sell their own ‘SpaceFund tokens’ to other investors once the value of these tokens upsurge. On the other hand, Abacus is charging ‘a subscription fee’ from SpaceFund’.

“We want to allow more visionary people to get involved, support the entrepreneurs opening space to humanity, and share in the wealth it will create. This offering is both a giant leap and a first step in that direction.”

― @RocketRick @CryptovestMedia https://t.co/VefgBNz1o4 pic.twitter.com/YaS6fMIFVl

― SpaceFund (@SpaceFundInc) December 16, 2018

The post New Private Security Startup, Abacus Secured $2 Million From VCs appeared first on Coingape .


Viewing all articles
Browse latest Browse all 12749

Latest Images

Trending Articles





Latest Images