LONDON, March 18, 2019—BlockRules, the blockchain fintech company enforcing complex compliance rules directly on the blockchain, today announces that the first security token powered by its technology will be for Verseon, a clinical-stage pharmaceutical company and BlockRules’ parent company. BlockRules will provide technology and services for token launch, issuance, and trading.
“We wanted to structure our STO as one of the first truly international offerings backed by a prospectus,” said Adityo Prakash, CEO of Verseon. “BlockRules provides the ideal solution to realize this vision. Their technology will allow us to share the future rewards from our innovations with investors around the globe.”
BlockRules will facilitate the sale, issuance, and trading of Verseon’s security token to a global investor base in accordance with compliance rules as required by Verseon. For all transactions involving the token, the BlockRules Compliance Engine will perform compliance checks directly on the blockchain. Only those trades that comply with applicable regulations will be allowed to proceed. By operating directly on the blockchain, BlockRules technology combines efficiency, security, and maximum transparency.
Verseon’s security token offering will be implemented on an ERC20-compliant smart ledger on the widely deployed Ethereum Network. Adopting a common standard on a public blockchain will provide global access, a high level of security, and permit trading peer-to-peer and on decentralized exchanges.
For any token launched on its platform, BlockRules will collect and securely record investor information needed to enforce various securities regulations for issuance and trading. BlockRules will also maintain a record of all ownership transfers of the token.
“Verseon’s goal is to make their security token available to a global investor base, so reliable, secure enforcement of regulations across international borders is key,” said David Williams, BlockRules Chief Technologist. “Our Compliance Engine was built for just this purpose.”
BlockRules Ltd. is a blockchain technology company supporting the regulations-compliant sale, launch, and trading of tokenized securities. The company’s Compliance Engine can enforce multijurisdictional regulatory compliance directly on the blockchain. In this way, BlockRules facilitates issuance and decentralized trading that is secure, transparent, and verifiable. BlockRules is a wholly owned subsidiary of Verseon Corporation.
Verseon Corporation (AIM: VERS) is developing disruptive life-science technology to advance global health. The clinical-stage company is using its proprietary, computational drug discovery platform to discover new drug candidates that are unlikely to be found using conventional methods. Pairing its computational engines with a comprehensive in-house chemistry and biology workflow, the company has built a growing pipeline of drug programs. Verseon currently has four active drug programs in the areas of anticoagulation, diabetic macular edema, hereditary angioedema, and oncology.
BlockRules – Robert Taylor
Verseon – Tina Schlafly
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