Korporatio and AbacasXchange signed partnership

Korporatio has signed a partnership with AbacasXchange, making Smart Company shares tradeable.

AbacasXchange is a fully regulated and compliant exchange that allows the transfer of assets. These assets could be from any asset class. For example art like a Picasso, precious metals, equities like AAPL, cryptocurrencies, and now also Smart Company shares.

AbacasXchange uses a regulated model, so we are not too far away from a traditional exchange in this sense. There is a custodian, who is in charge of keeping the securities secured. Also, the custodian account is managed by an independent trust. In order to join and start trading you need to run your KYC and AML, then you get a platform to place your orders with price discovery.

 

The plan

If you have read our white paper you know how important it is to have tradable shares. Imagine setting up a company that cost less than a coffee per day, managing everything online on the blockchain, saving on average 99.8% of governance costs and trading those shares on an exchange. You can forget running cap-in-hand from VC to VC and let the market judge your business.

AbacasXchange runs on the Ethereum blockchain, same as the shares of our companies. Discussions between our two companies have been ongoing for a few months. We will be ready to announce our pilot soon.

We will set up a dummy Smart Company to execute the entire plan that we have discussed. Once the prototype is validated, every Smart Company will be able to be listed on the AbacasXchange. Korporatio will be among the first to place shares to the exchange. We can’t wait to see the reaction of our users to this news.

It is very important to highlight an essential factor: we are working on a fully compliant model. There are a lot of variables to keep in consideration in order to bring this project home. Considering the years of experience that both AbacasXchange and Korporatio are putting on the table, we believe we will be successful.

We have read about other companies presenting similar partnerships to achieve the same result. So far nobody has reached the finish line. Maybe two dynamic startups can show the world you don’t need hundreds of millions raised to realise incredible goals.

 

Some personal thoughts

As founder of Korporatio, I am extremely glad to be able to share this result with you, and this partnership will critically enhance our value proposition. If you have an idea for a business you can no longer say that it is difficult or you don’t know how to set it up.

 

With Korporatio, you get the best tools you can ask for at the lowest cost in the market.

 

This time, I want to leave the end of the article to the CEO of AbacasXchange, Mark VanRoon: “Abacas sees great potential in utilizing the security of the AbacasXchange operating model in tandem with the universality of Korporatio’s Legal DAO framework. The opportunity to work with Korporatio opens the world to a whole new source of security products that can be traded safely and with confidence in the AbacasXchange. Abacas looks forward to a successful collaboration, while improving liquidity in previously illiquid assets en route to a compliantly-traded product offering facilitated by the Abacas and Korporatio teams”.