Akemona Announces Launch of its Affiliate OnchainTA – A Blockchain-based Transfer Agent
Akemona, the first SEC-registered, FINRA-member, crowdfunding platform that allows businesses to raise funds by offering and selling blockchain tokens as digital securities, has announced the launch of OnchainTA, an affiliate entity created earlier this year by one of the founding partners of Akemona.
OnchainTA provides blockchain-based capitalization table management and post-subscription investor relations services to businesses, who raise funds on the Akemona platform. Through OnchainTA investors may replace lost digital securities, register digital securities purchased from other investors and receive principal, interest or dividend payback from the issuer.
In addition to serving token issuers who use the Akemona platform, OnchainTA is open to any business who needs blockchain-based, non-custodial transfer agent services.
The benefit of OnchainTA is that it is non-custodial. Investors maintain custody of their securities at all times in any digital wallet of their choice. This allows investors to directly trade their securities with anyone. Secondary buyers of the digital securities are encouraged to register their securities with OnchainTA for replacement in case of loss and for principal, interest or dividend payback.
Under the custodial model, investors hold securities in the wallet provided by the transfer agent. As a result, investors can trade only with investors who are registered with the transfer agent.
Simon Grunfeld, Chief Product Officer of Akemona, stated, “I can think of no better way to leverage blockchain than the simple use case made as a transfer agent. Using blockchain to record transactions, issue certificates, and act as a means of positive control for reissuing lost or stolen certificates, is the natural progression for the industry.”
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