TokenSoft, a blockchain company specializing in securities tokenization, announced on Wednesday that it would support projects on Corda, a blockchain platform provided by New York-based R3. From now on, TokenSoft clients will be able to issue tokens on Corda by applying the Cordite Foundation software development kit.
The security token space is not an obscure niche anymore, so the range of TokenSoft’s customers has expanded. More and more companies are choosing to tokenize their securities, which provides investors with more liquidity and convenience.
TokenSoft CEO Mason Borda said in a blog post:
“With tools like Cordite and Corda, we’re excited to provide enterprises and financial institutions with the tools they need to launch stable, performant, high throughput decentralized applications on the blockchain.”
TokenSoft listed the following among the benefits of using the Corda platform:
High transaction speeds – R3’s platform supports a UTXO (Unspent Transaction Output) versus an account-based transaction model, which, along with the permissioned consensus layer, ensures high throughput. Besides, the model allows the system to scale.
Stable and mature ecosystem – the Corda platform is trialed and implemented by some of the largest international banks and financial institutions. These companies have been using Corda to transact digital assets, and some of them are open to a tokenized economy. Also, the members of the Corda ecosystem can organize in business networks, which can be done in an open manner or conditionally restricted.
User-friendly tools – Corda’s network and features can be applied to issue regulation-friendly tokens in a convenient way. Cordite also offers tools that allow the enforcement of governance and the creation of tokens in Cord apps.
Last week, TokenSoft announced the integration of the Stellar network after a successful pilot program. As a result, its clients can accept XLM coins during their token sales and issue their own tokens based on the Stellar platform.