Harbor, a security token startup, has obtained broker-dealer and transfer agent licenses from the US Securities and Exchange Commission.
The firm took licenses to make dividend and interest payments to investors better.
Harbor is the first Blockchain firm to have been granted both licenses. If security tokens go missing, the transfer agents can help to create new securities that substitute lost tokens.
By receiving the licenses, Harbor has permission to serve first-rate companies and investors. The firm has been aiming to be a one-stop source for the issue of digital assets.
According to Josh Stein, the CEO of Harbor, it took more than a year for the startup to get the official licenses. When they granted the broker-dealer license to the company, he stated,
“It took the regulators a long time to get a handle on the space and understand it and its implications. This was very new for the SEC and FINRA, and they want to do it right.”
Presently, Harbor has involved itself in a real estate tokenization worth $100 million on the Ethereum platform. Through the tokenization, the firm, the placement holders and investors expected to reduce agitation in the functioning of digital assets.