Polymath Announces New Partnerships with IdentityMind Global and Agrello

Polymath’s industry first security token issuance platform adds best-in-class security and regulatory compliance capabilities

Polymath, Inc. has announced new partnerships with IdentityMind Global™, the Trusted Digital Identity Company, and Agrello, a company offering blockchain-based smart agreement solutions. These new partnerships will streamline the security token issuance and anti-money laundering (AML) and know your customer (KYC) processes on Polymath’s platform, incorporating IdentityMind’s compliance, risk management, and fraud prevention solutions and Agrello’s smart agreements, digital signature and identity technologies.

These partnerships come at a time when token sales and ICOs have raised more than $4 billion worldwide in largely unregulated crowd sales. National regulators have begun to take notice and issue statements mandating regulatory compliance. Moving forward, the launch of tokens that represent ownership in traditional financial assets or ‘securities tokens’ will need to meet regulatory requirements and incorporate mandatory AML/KYC verification.

“We know a stampede is coming from capital markets to blockchain,” says CEO Trevor Koverko. “Polymath is creating the technology platform that helps to form the basis of a security token. In this new world, regulatory compliance and insight into the identity of issuers and investors is a must if sophisticated financial products are going to migrate to the blockchain. Having experienced, reputable partners like IdentityMind and Agrello by our side is critical to ensuring the long-term success of Polymath.”

IdentityMind has extensive experience in providing digital currency, regulatory and risk management solutions to FinTech companies. IdentityMind’s software handles the AML and KYC requirements necessary to launch regulatory compliant token offerings. Its preconfigured plug-in allows issuers to know where their investors are coming from and prevents certain geographies from participating in the fundraising process.

Regarding Agrello’s collaboration with Polymath, Agrello CEO and co-founder Hando Rand said: “A partnership with Polymath will allow us to showcase the Agrello’s cutting edge KYC and digital signature services in the highly regulated financial industry.”

Polymath’s platform connects token issuers, KYC providers, legal delegates and smart contract developers together to collaborate and create fully compliant security token offerings. This network of participants enables financial products like equities, venture capital, private equity, and real estate trust units to successfully leverage blockchain technology. Additionally, Polymath’s ‘ST20’ token standard makes the securities market more efficient and secure than traditional forms of asset ownership.

Along with the new platform technology collaborations, Polymath’s POLY token is now compatible with the Jaxx digital asset wallet.