Dealbox just migrated two STO's from Stellar to Tezos

Dealbox just migrated two STO's from Stellar to Tezos

By Allen Walters | Publish0x posts | 5 Dec 2020


Dealbox had issued two STO's on Stellar in the past, which are now migrated to Tezos with the help of Vertalo. (An STO is a security token, which is a regulated ICO.) Vertalo is one of the leaders in the world of digital assets. Vertalo emphasizes the value of blockchain to keep an auditable track record of ownership of shares and assets. Vertalo started out on Ethereum, but "found that to be too expensive in terms of gas. Transferring shares from 1 wallet to another could cost $50." Since that realization, Tezos has become the preferred chain for STO issuing for Vertalo. You can imagine that Vertalo was not disappointed when Tezos gas rates were even more reduced last month to 1/4th of the previous rates. This was a result of the fourth upgrade in since launch of mainnet. Basic transactions now cost 3,000 times less than a transactions on Ethereum on a good day. Tezos manages this without the need for any side chains or giving up parts of decentralization. Tezos is fully decentralized, even to core development levels.

Earlier this year, Transfer Agent Vertalo announced that they choose Tezos Over Ethereum for Security Token Development and made Tezos their default blockchain for STO issuance. “The company has chosen Tezos because its smart contract abilities are available in multiple programming languages, Hendricks said. He also cited Tezos’ rate of transactions per second, stable network of participants and the collateralization opportunities offered by being a proof-of-stake network.” 

That sentiment has not changed. "Tezos, a protocol that is rapidly becoming the global choice for managing programmable assets like tokenized securities. We are now in the process of tokenizing several other DealBox portfolio companies on Tezos and expect to list one of these major assets on a major US-based ATS in Q1 2021.” 

In the mean time, Dealbox is in the process of issuing 22 STO's with a total value of $200 million on Tezos.

------------------

New to Tezos? Read this full introduction to Tezos.

Here you can read more about the Status of the Tezos ecosystem. (Latest news, developments and growth of the adoption rate and on-chain statistics)

New to Publish0x? Create an account here and you will be able to tip articles and earn some crypto rewards yourself while doing so. 

How do you rate this article?


56

0

Allen Walters
Allen Walters

Fascinated by blockchain and future proofing cryptocurrency. Discover the tech before it gets relevant. Twitter: @IgnoranceIt


Publish0x posts
Publish0x posts

Posting my opinion and feedback on Publish0x here.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.