Etherparty to Adopt Capiche Compliance Solution for Upcoming STO Platform
Etherparty, a company developing a security token platform, will integrate the regulatory compliance solutions offered by Capiche.
Canadian blockchain-oriented company Etherparty Smart Contracts announced on Wednesday it had struck a partnership agreement with Capiche Capital Technologies Corporation, a legal tech provider that operates a platform focused on fundraising. Under the terms of the deal, Etherparty and Capiche will work on an integrated solution ensuring that the securities issued via Etherparty’s Rocket platform abide by the existing laws.
Rocket, launched in July of this year, is Etherparty’s first software product. It claims to be among the most intuitive token crowdfunding platforms. The end-to-end solution enables users to launch and monitor their token projects without relying on a development team. Currently aimed at initial coin offerings (ICOs), Rocket will also soon integrate security token operations.
Capiche operates a platform which streamlines the fundraising process to make sure securities are distributed in line with the relevant securities regulation. The system allows users to efficiently handle all documentation, manage interactions with other parties, and receive support throughout the process.
Under the current agreement, Capiche will provide its solutions to Etherparty, a subsidiary of Vancouver-based Vanbex Group.
Vanbex CEO Kevin Hobbs commented:
“Having a partner like Capiche allows us to more easily transition the traditional processes of setting up security offerings into blockchain for the security and auditability that it offers.”
Blair Hogg, vice-president and general counsel of Vanbex, added:
“In launching security tokens, the biggest hurdle and cost for our clients is regulatory compliance. We couldn't be more excited for this partnership as there is nothing in the security token market that compares.”
Etherparty is currently developing the Comet platform, which represents version 2.0 of Rocket. Comet is designed with the goal of being the most advanced STO generator. When ready, the platform will integrate Capiche’s solution to speed up security token distribution.