Blockchain startup Harbor has announced the official launch of its security token compliance platform.
It has also teamed up with Convexity Properties to tokenize the ownership of a luxury student residence located in South Carolina. The offering, available to US-based accredited investors, aims to raise a total of $20 million by selling 955 shares, with one share per token, at a price of $21k per token.
Last month, we reported that Sujay Jaladi, Ripple’s Head of Information Security, was departing the San Francisco-based blockchain giant for Harbor and taking on the role of Chief Information Security Officer.
“Sujay has the perfect blend of FinTech and blockchain experience to accelerate our efforts to build a trusted platform for issuers, investors and regulators,” said Bob Remeika, Harbor CTO and Co-founder.
“Harbor is bringing traditional finance to blockchain, which requires institutional-grade systems, processes and procedures. Sujay’s experience building institutional-grade programmes will be invaluable to ensuring the safety of customer data and complying with regulatory requirements.”
“I’ve followed Harbor’s progress for some time and am excited to help deliver a highly secure service that issuers and investors can rely on to make critical financial transactions,” commented Jaladi, who has also worked at Gusto, Prosper Marketplace, Xoom Corporation (a PayPal service), and Hightail.
“The mission to reengineer private securities is an exciting opportunity and Harbor is well positioned to lead.”