STO Weekly Review by Evercity 18-24.03.2019

Main news
🏦IBM is taking its banking clients a step closer to cryptocurrency. Announced Monday, six international banks have signed letters of intent to issue stablecoins, or tokens backed by fiat currency, on World Wire, an IBM payment network that uses the Stellar public blockchain. The network promises to let regulated institutions move value across borders – remittances or foreign exchange – more quickly and cheaply than the legacy correspondent banking system.

🇬🇧Smartlands, an aspiring global platform for security token issuance, announced the acquisition of a major stake in Shojin Financial Services Limited (SFS) - a London-based company that in 2017 received an investment license from the British Financial Conduct Authority (FCA) allowing SFS to raise capital globally via crowdfunding.

Projects
🤝Security token platform Polymath has partnered with digital securities fundraising platform seriesOne to offer an “end-to-end” solution for security token issuance. Back in November, seriesOne partnered with South Korean crypto exchange Bithumb to launch a compliant security token exchange in the U.S.

🤝Leading community engagement firm AmaZix announced its latest partnership with Securitize, a compliance platform for the primary issuance and lifecycle management of digital securities on the blockchain.

Regulation
📃American Bar Association released a major report on digital assets and cryptocurrency regulation. The 353-page document titled “Digital and Digitized Assets: Federal and State Jurisdictional Issues” provides definitions relevant to digital currency, domestic regulatory issues, and what international bodies and other countries are doing when confronted by the new technology.

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