Exclusive Press Statement For Immediate Release | 29 Oct 2020
Celebrus Advisory, a Malaysia-based blockchain advisory firm, has added Polymath to its suite of technology providers for customers in South East Asia seeking to take advantage of security tokens. This comes as The Securities Commission of Malaysia moves closer to rolling out its ground-breaking Initial Exchange Offering (IEO) regulations.
According to Celebrus, Malaysia is considered to be the first jurisdiction to specifically license IEOs – the digital asset equivalent of Initial Public Offerings (IPO) – and will soon begin accepting applications from IEO operators. Following on from Malaysia’s legalization of secondary market trading of digital currencies in 2019, the IEO rules intend to regulate the primary market lifecycle of security tokens and make the country one of the world’s most advanced in crypto-based capital formation.
“Polymath is the global leader in asset tokenization technology and pioneered the industry’s security token standard with ERC 1400,” said Edmund Yong, Co-Founder of Celebrus Advisory. “Malaysia’s IEO regulations will be a key tipping point for the digital asset industry, hastening its institutionalization and shaping the crypto equivalent of investment banking. Polymath will play a major role in this shift, and its tech will be among the core aspects of our advisory offering.”
Polymath and Celebrus are both supporters of the Security Tokens Standard, which promotes a unified approach to identifying, classifying and analyzing tokens.
“We’re excited to work alongside Celebrus Advisory to build the security token ecosystem and support crypto and blockchain development in Malaysia and across South East Asia,” said Lechi Zhang, Director, Business Development (APAC) at Polymath. “We’re already having productive conversations with major organizations looking to use our technology, white label our solution platform, or participate in the Polymesh blockchain initiative.”
About Celebrus Advisory
Celebrus Advisory is a bespoke and compliance-first consultancy for blockchain development and business tokenization based in Malaysia. The award-winning company works with a global clientele comprising of software innovators and entrepreneurs, financial service providers, and alternative trading systems.
Polymath makes it easy to create, issue, and manage tokens on the blockchain. More than 200 tokens have been deployed using our Ethereum-based solution, and we are now working on the Polymesh blockchain initiative, an institutional-grade blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving the inherent challenges with public infrastructure around identity, compliance, confidentiality, and governance.
Polymath is not a broker-dealer, funding portal, trading platform or otherwise engaged in the business of trading in securities or providing advisory services regarding the issuance, buying or selling of securities. Polymath is not making any recommendation or giving any advice with respect to any company or proposal discussed in this communication.
Director, Business Development (APAC)