Corl has been hard at work creating the world’s first regulatory-compliant securities and revenue-sharing token, and the partnership with Polymath, the world’s leading securities tokens platform, will help bring revenue-sharing to the blockchain. Through the new partnership, Corl will be able to issue their securities token and ensure compliance with regulatory requirements.
Polymath will provide the platform and infrastructure for launching AML/KYC compliant securities tokens and has developed the technology to ensure that regulation is legally enforced on the blockchain. The platform will serve as a launch pad for companies looking to create and issue securities tokens by automating the complex legal and technical functions of a token sale. In doing so, they aim to become the open-source standard for launching AML/KYC compliant securities tokens.
“Leveraging blockchain technology is a logical next step for the securities industry, which enhances the investor experience and helps facilitate compliance with regulatory requirements. We are excited to work with the talented team at Polymath, who share our same vision of the future,” said Corl CEO Sam Kawtharani.
Corl provides royalty financing to emerging technology companies in exchange for a portion of their monthly revenue. Unlike traditional debt or equity financing, however, Corl provides revenue-based financing to high-potential early-revenue companies, thereby streamlining the funding process. The Corl token is the world’s first token to represent equity in a company, providing token owners exposure to Corl’s growth and the growth of its portfolio companies.
“For the first time in history, security tokens will represent shares in traditional financial assets and investment vehicles. These assets and investment vehicles function better as tokens because people want faster, cheaper 24/7 trading functionality. Using the Polymath platform, security tokens such as Corl will bring levels of efficiency to the financial markets like never before,” said Polymath CEO Trevor Koverko.
Corl token owners are eligible for a dividend equal to 10% of net profits, paid out as Ether cryptocurrency on a quarterly basis. Thus, companies can grow on their own terms without dilution while providing investors with the opportunity to participate in an equity token that generates a continuous quarterly yield.
“Investors will be able to invest in a digital token that has value beyond its utility. At Corl, we are proud to be leading this movement by offering 100% of the equity in our company as a digital token on the blockchain,” said Corl CIO Derek Manuge.
The Corl token is scheduled to launch March 1st of this year, and Corl will be working with Polymath on its development until that time.