ICON, a platform that is aimed at providing blockchain interoperability, has announced that it is introducing a new security token standard. The new IRC16 specification will allow token creators to issue security tokens—a special type of blockchain token that represents certain assets and investments. ICON’s new standard is meant to facilitate regulatory compliance. IRC16 is intended to simplify security token creation, support smart contracts that manage trading, and, above all, help token issuers comply with rules and regulations. View source
As of March 7th 2019, Tokeny and Lition have announced an agreement to develop new methods of security token compliance. The two will collaborate on Lition’s previously announced pilot project involving the VR Bank. The two have officially partnered to add to the existing methods of compliant securities tokenization. Their addition will include the ability to protect and delete private data, while maintaining the typical features sought after with blockchain technology including immutability and security. View source
