TokenSoft is bringing its security token issuance platform to Europe through a Switzerland-based counterpart, TokenSoft International AG.
The regulated STO platform announced Wednesday that it struck a licensing deal with its eponymous European partner, who now has exclusive continental distribution rights for TokenSoft’s tokenization software.
Mason Borda, CEO of TokenSoft Inc., told CoinDesk the agreement was a natural fit for the crypto-friendly Swiss. Regulators there have been far more straightforward about security token oversight than watchdogs in the U.S.
“Due to the regulatory clarity in Switzerland and due to the comfort that the regulators have there with blockchain-based assets, the pace of innovation has been a little bit faster in Switzerland and so that’s why we do see more activity out in Switzerland,” he said.
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TokenSoft retooled its STO software to comply with Swiss regulations as well as the European Union’s General Data Protection Regulation, the omnibus data privacy law better known by its acronym, GDPR, Borda said. The software also supports on-site custody.
Now, that software will have access to the European market through TokenSoft International AG. A press release said the company is “uniquely positioned” to the Swiss market.
“We’re seeing increased demand in the European markets and we’re proud to partner with TokenSoft International AG to help meet that demand,” Borda said in a statement.
The firm, which is not owned by TokenSoft Inc. or one of its subsidiaries, was incorporated in the Swiss canton of Zug in early February with the purpose of “providing services in the field of information technology, in particular in connection with the trading of blockchain-based effects,” according to the company registration page.