As of November 1st 2018, the world’s first security has been transferred on a public blockchain. The SPiCE Venture Capital Fund, Securitize, and AirSwap were all involved in the revolutionary transfer which has set a precedent for the global security token industry to follow.
Details of the Historic Security Transfer Explained
The world’s very first transfer of a security on a public blockchain has officially taken place. The SPiCE VC security token was issued through the Securitize platform and transferred via AirSwap.
Securitize made the announcement on November 1st with the following tweet:
“Today we did the first transfer of a security on a public blockchain.”
The transfer was done through AirSwap, a peer-to-peer trading network built on the Ethereum blockchain. As a decentralized marketplace, AirSwap permits buyers and sellers to perform wallet-to-wallet trades through smart contracts.
The SPiCE VC security token was created and issued through Securitize. As an end-to-end platform, Securitize allows for coded compliance not solely during issuance but through secondary market trading as well.
Carlos Domingo, CEO of Securitize, provided the following comment on the transfer via twitter:
The transferred token represents fractional ownership of the SPiCE Venture Capital Fund. The revolutionary transfer is not the sole ‘first’ for SPiCE. The SPiCE VC fund was the first fully tokenized VC fund, it featured the first token issued on a globally compliant security token issuance platform, and was the first security token fund to entitle holders to a direct share of net exits.