a16z-Backed Harbor Launches Security Token Platform
1/ Big news today! @Harbor launches first institutional-grade platform for tokenizing private securities – unlocks access, value and liquidity for private investments. https://t.co/vXozZiSI9V #blockchain #tokenization pic.twitter.com/zlKHs4O9cj
— Harbor (@harbor) November 27, 2018
According to the announcement, Harbor’s platform aims to address the security, compliance and ease-of-use requirements of institutional investors and asset owners.
The name of the game for Harbor is simplification. The new platform is designed to streamline the entire process from investor onboarding (e.g. KYC/AML, accreditation, tax forms, etc.) to the signing of documents and funding. This approach ultimately makes it faster, easier and more cost-effective to syndicate larger groups into the token investment.
With the Launch announcement, Harbor revealed the platform’s first offering: $20 million in private equity in The Hub at Columbia, an off-campus student housing highrise serving the University of South Carolina. Harbor notes that the equity is divided into 955 shares (tokens) priced at $21,000 each.
“We are excited to partner with Convexity Properties to introduce a more accessible and liquid form of commercial real estate investment through the Harbor platform,” said Harbor CEO Josh Stein. “Harbor is transforming private investments by making it easier and more cost effective for issuers and broker-dealers to syndicate more widely, raising capital from a potentially broader and more global investor pool.”
Harbor raised $28 million last April and is backed by a number of notable investors, including Founders Fund, Andreessen Horowitz and Craft Ventures.
More: Harbor Launches First Institutional-Grade Platform for Tokenizing Private Securities — Unlocks Access, Value and Liquidity Through Blockchain
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.