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Laxman Pai, Opalesque Asia: Ben Franklin Technology Partners of Southeastern Pennsylvania launched the Global Opportunity Philadelphia Fund, or GO Philly Fund, with $15m committed.
Ben Franklin is leveraging Securitize as the fund's compliance platform for issuing and managing digital securities on the Ethereum blockchain.
The platform is also managing Know Your Customer (KYC) and Anti-Money Laundering (AML) (KYC/AML) and accredited investor compliance.
Ben Franklin Technology Partners is an initiative of the Pennsylvania Department of Community and Economic Development, that has invested over $200m into more than 2,000 emerging technology projects in the Philadelphia region.
The new blockchain-enabled platform allows limited partnership interests in the GO Philly Fund to be represented as digital "GO Philly Tokens" that are fully compliant with the ERC-20 standard worldwide.
"The GO Philly Fund intends to utilize rapidly emerging standard technologies to streamline and manage investor interests in the fund," explained Scott Nissenbaum, Ben Franklin's Chief Investment Officer. "Through the use of blockchain technology, we are now facilitating and streamlining individual investor participation from around the globe while allowing for cryptocurrency to be accepted."
The availability of the onboarding and tokenization platform comes on the heels of the newly launched GO Philly Fund, a regional venture fund that allows private investors to i...................... To view our full article Click here
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