NEO Global Development (NGD) is working on an ecosystem for security tokens.
NGD has recently announced a partnership with Liquefy to develop a NEO-based ecosystem that allows asset owners to issue security tokens on the NEO blockchain.
NEO Global Development is an organisation founded in March 2018 by the NEO Foundation (NF) with the aim of focusing on the research and technological development, marketing and community development strategies of NEO.
Liquefy is an end-to-end technology solution that offers asset owners the ability to create security tokens. The offer includes tokenisation technology, digital register of members and asset management tools.
In addition, the Liquefy protocol complies with over 50 jurisdictions.
NEO is a blockchain-based protocol that uses digital identities to tokenise assets and automate tokenised asset management through smart contracts.
NGD will invest in and work with Liquefy to develop this new ecosystem to enable asset owners to issue NEO-based security tokens.
Adrian Lai, CEO of Liquefy, said:
“It is important to develop a security token standard while the industry is still in its infancy. What separates NEO apart from other public blockchain protocols is the integration of NeoID, which allows KYC, AML and accreditation status to be stored on-chain while maintaining privacy. This allows issuers to monitor and maintain records of all transactions in the secondary market to remain compliant in multiple jurisdictions. We are excited to welcome NGD as an investor and a partner to develop a security token ecosystem together and bring innovation to the financial market“.
Thanks to this collaboration, the Liquefy platform will support NEO.
In addition, since the current process of transferring private securities is fragmented, cumbersome and costly due to the fact that KYC investor information is split between multiple intermediaries, and compliance verification is a manual process, Liquefy wants to offer an end-to-end solution that allows compliance verification in multiple jurisdictions for investment management services.