When I started SPiCE VC with my partners Ami and Tal, the main reference we had in the industry was the security token offering that Blockchain Capital had done for its fund. Not only did they issue a security token, which was what we believed we needed to do, but they also tokenized a fund. I wrote about how it became a source of inspiration for us and how we evolved their model. We decided to build our own platform to tokenize SPiCE VC, and that platform ended up becoming Securitize, which today is one of the leading primary issuance and compliance platforms for security tokens. What we built at Securitize and subsequently with the Digital Securities Protocol (“DS Protocol”) was meant to address some of the compliance and transfer restrictions applicable to security tokens like BCAP.
In March of this year, I met for the first time Brad Stephens, one of the founders and managing partner of Blockchain Capital, and we then first talked about the idea of working together.
Today, we have publicly announced that the BCAP tokens issued by the Blockchain Capital TokenHub entity in April 2017 will be upgraded utilizing the Securitize platform and the newly released DS Protocol in order to further enhance the compliance process with respect to securities regulations and transfer restrictions applicable to the BCAP tokens. This upgrade is expected to provide BCAP Token holders with liquidity on secondary trading platforms that are integrated with the DS Protocol.
What is believed to be the first token ever issued as a security is now on the Securitize platform and using our DS protocol. This validates our platform as the most market-ready platform and protocol for security tokens today. I cannot tell you how excited and personally proud I am of this project given how much we studied Blockchain Capital’s work and what a source of inspiration it was for us their pioneering work on security tokens when we started SPiCE VC and subsequently Securitize.
If you are a BCAP Token holder, you can access the upgrade process here https://bcap.securitize.io/