According to Celebrus, Malaysia is considered to be the first jurisdiction to specifically license IEOs - the digital asset equivalent of Initial Public Offerings (IPO) - and will soon begin accepting applications from IEO operators. Following on from Malaysia’s legalization of secondary market trading of digital currencies in 2019, the IEO rules intend to regulate the primary market lifecycle of security tokens and make the country one of the world’s most advanced in crypto-based capital formation.
“Polymath is the global leader in asset tokenization technology and pioneered the industry’s security token standard with ERC 1400,” said Edmund Yong, Cofounder of Celebrus. “Malaysia’s IEO regulations will be a key tipping point for the digital asset industry, hastening its institutionalization and shaping the crypto equivalent of investment banking. Polymath will play a major role in this shift, and its tech will be among the core aspects of our advisory offering.”
Polymath and Celebrus are both supporters of the Security Tokens Standard, which promotes a unified approach to identifying, classifying and analyzing tokens.
“We’re excited to work alongside Celebrus to build the security token ecosystem and support crypto and blockchain development in Malaysia and across South East Asia,” said Lechi Zhang, Director, Business Development (APAC) at Polymath. “We’re already having productive conversations with major organizations looking to use our technology, white label our solution platform, or participate in the Polymesh blockchain initiative.”
About Celebrus Advisory
Celebrus Advisory is a bespoke and compliance-first consultancy for blockchain development and business tokenization based in Malaysia. Founder Edmund Yong created Bitcoin Malaysia, now the country’s largest bitcoin community, in 2012. He later founded Celebrus to further develop Malaysia’s crypto community. The company works with software innovators and entrepreneurs, financial service providers, and alternative trading systems.
Polymath makes it easy to create, issue, and manage tokens on the blockchain. More than 200 tokens have been deployed using our Ethereum-based solution, and we are now working on the Polymesh blockchain initiative, an institutional-grade blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving the inherent challenges with public infrastructure around identity, compliance, confidentiality, and governance.