Former S&P President Leads Seed Round for ICO Compliance Startup
Regtech and Compliance Startup iComply has just completed a seed funding round led by former Standard and Poor 's president Deven Sharma.
Other block chain start-ups, especially companies that want to develop standards-compliant tools and services that launch early coin products or ICOs, did not provide accurate figures Monday, but announced a seven-digit number during the round. DMG Blockchain and Block X Capital also participated in the round.
iComply also announced that Jeff Bandman, a former CFTC official, Manny Alicandro, a former Nasdaq and MINY Alicandro regulators, attorney Praveen Mandal and attorney Thomas Linder, joined the company as startups.
Sharma said in a conversation with CoinDesk that he decided to invest in iComply because he focused on venture companies' "ICO compliance and risk management." Regulatory compliance will help alleviate regulatory concerns by providing transparency to ICO issuers, he said.
Sharma also believes that the company can help with adoption by supporting traditional financial services companies that research this technology.
"It's important to see iComply evolve into a benchmark that investors can use to evaluate the issuer's credibility, sustainability of its underlying services, and ICO pricing," he said.
Matthew Unger, founder and CEO, said in a statement that new ICOs and exchanges, including FINRA, the Financial Transactions and Analysis Analysis Center and the Swiss Financial Market Supervisory Authority, He said.
"IComply's patent-pending software enables the public block chain to monitor and document compliance, governance, and risk procedures through security and utility tokens before they execute permanent transactions and provide customers with trust, integrity and transparency "He said.
Sharma explained that new tools such as block chains still need transparency to build investor confidence. By doing so, we will be able to develop more ways to revolutionize our money and investments. I believe that iComply is an important factor in making ICO space more successful because it provides trust. "
The concept of transparency and trust has sparked interest in the block chain.
In other words, Sharma told CoinDesk that he had not invested in any token sales yet.
& # 39; There were a few ICOs that I understood and made a fundamentally solid proposal [but I] I missed the opportunity. Other things with transparency of services such as iComply, I would [invest in]. "
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