FUNDAMENTAL INTERACTIONS PARTNERS WITH ZORTAG TO LEVERAGE AUTHENTICATION SECURITY CARDS WITHIN DIGITAL ASSET CUSTODY SOLUTION

Zortag cards have been implemented within the FI custody solution to ensure only authorized users can access the custodial system; Velocity Ledger Technology announces Zortag integration and deployment for digital assets custody

New York, NY, Sept. 04, 2019 (GLOBE NEWSWIRE) -- (via Blockchain Wire) Fundamental Interactions (FI), a leading global provider of enterprise exchange technology, has partnered with Zortag, to include its unique optical fingerprint authentication cards as a checkpoint for accessing the FI Custody Solution. The solution merges best security practices not only for the management and storage of private keys but also for ensuring that only authorized persons are permitted to approve operations in the custody platform.

Velocity Ledger Technology, which deploys the FI Custody solution, has implemented Zortag to strengthen access security controls over settlement and withdrawal processes. Velocity Ledger provides a global solution supporting token issuance, trading, and settlement. Approved users are required to scan and authenticate their identity with the Zortag fingerprint in order to sign wallet transactions before tokens can be removed from cold storage.

The FI Custody Solution stores 100% of tokens in cold storage in segregated accounts. It creates public and private wallets for each firm or user of the platform. When participants deposit tokens, those tokens are transferred to segregated cold storage wallets on the public network. The platform credits the user’s wallet on the private blockchain with representative proxy tokens that can be traded on the platform. The system has a settlement window when the market is brought offline and token transfers are authorized in a multi-key Zortag authorization process. Settlement transfers are then sent to segregated cold wallet accounts on the public network and the market is brought back online for trading.

Zortag has invented and patented a unique technology that combines a 2-dimensional (2D) barcode or RFID chip with randomly distributed 3-dimensional (3D) colored particles in the form of an optical fingerprint. The optical fingerprint is embedded in a card that is distributed to authorized users of the custody system. The number of possible combinations of randomly distributed 3D particles used in generating the 3D optical fingerprint exceeds 10 to the 60th power, putting it in the same class as human DNA. Requiring authentication from a physical Zortag card ensures that the person accessing the system not only has possession of the phone registered to the account, but also the unique Zortag card. The Zortag service further regulates the authentication by time of day and geolocation, thus limiting it to specific physical locations and times.

“Zortag’s solution provides the unparalleled power and capability for FI customers to securely access their digital assets. By partnering with FI we are able to bring the benefits of Zortag’s patented technology to their customers,” stated Dr. Satya Sharma, CEO of Zortag.

About Fundamental Interactions

Rising to challenges and opportunities posed by regulation, technology, and market structure shifts – Fundamental Interactions develops leading enterprise market center technology platforms. The systems are widely deployed by securities exchanges, ATS, and inter-dealer brokers across a variety of asset classes and geographic regions.

About Zortag

Zortag provides a unique identity to any item which is almost impossible to be duplicated, even by Zortag itself. Such an item may be an article of commerce, an entity, or an individual. Uniquely identifying an item, authenticating the genuineness of that item, and authorizing who has access to information about that item is a major organizational challenge in today's digital economy. Furthermore, assuring the authenticity and integrity of goods, people, and information is critical in all business and personal transactions. Their technology has wide applications to this end, including protecting brands from counterfeit products, providing secure access to digital assets, making information available to different constituents at varying levels including law enforcement, authenticating products for sale on online shopping sites, and securing supply blockchains and the storage of cryptocurrencies.

About Velocity Ledger

VL Financial Ltd. ("VL Financial"), together with its affiliate, Velocity Ledger Technology (Bermuda) Limited ("VL Tech"), are the sole wholly-owned subsidiaries of Velocity Ledger Holding Limited ("VLHL"), all of which were incorporated in 2018 as Bermuda exempted companies limited by shares. VLHL is itself a wholly-owned subsidiary of Velocity Ledger Technology, Inc., a Delaware corporation ("VLTI" and, collectively with VLHL, VL Tech, and VL Financial, the "Velocity Ledger Group").

FUNDAMENTAL INTERACTIONS PROVIDES DUAL TRADING AND SETTLEMENT INFRASTRUCTURE FOR SECURITY TOKENS AND CRYPTOCURRENCY 

The platform provides enterprise trading and settlement infrastructure from a single platform deployment which can power both security token and cryptocurrency exchange operations

NEW YORK — 5th August 2019 — Fundamental Interactions (FI), leading global provider of technology to both securities and cryptocurrency exchanges, today announces its dual-purpose market center.  The system can serve the requirements of a security token exchange as well as crypto-currency exchange from the same code base and deployment.   

The platform provides a range of settlement capabilities to power different exchange models.  This includes both traditional settlements using regulatory reporting and central clearing as well as blockchain-based settlement. The system allows assets to be represented as proxy tokens on a private chain for trading on the platform while stored either on public blockchains or with integrated custody and trust partners such as Bitgo and Prime Trust.  

The digital assets product provides support for native blockchain protocols like ethereum, bitcoin and stellar and offers routing and market data integration with over thirty-five of the major digital asset and cryptocurrency exchanges. It also supplies tools for onboarding and managing customer bases leveraging systems integration with third parties such as Identity Mind and Chainalysis. 

“New demand for exchanges in the market today is mainly fueled by blockchain and tokenization,” says Julian Jacobson, President, and C.O.O. of Fundamental Interactions “and many security token exchanges operate cryptocurrency trading markets in parallel while they wrestle through the regulatory and time to market challenges of getting their security token exchanges going. The FI technology stack affords the versatility to build along both paths simultaneously from one platform”. 

Clients deploying the system trade tens of billions of dollars in notional value every 24-hour cycle across the globe.

The platform trades at sub-100 microsecond tick to trade latency and performs consistently under varying loads without degradation or disruption. The architecture ensures fault tolerance to application and hardware failure and the system has mature exception handling capabilities so it can carry on through any unexpected circumstances or operational failures.  Processes are configured with hot-hot fail-over with both primary and secondary running in real-time; there is no single point of failure or system downtime. 

About Fundamental Interactions 

Rising to challenges and opportunities posed by regulation, technology, and market structure shifts – Fundamental Interactions develops leading enterprise market center technology platforms. The systems are widely deployed by securities & crypto exchanges, ATS, and inter-dealer brokers across a variety of asset classes and geographic regions.

 

VELOCITY LEDGER HOLDINGS LIMITED RECEIVES APPROVAL FOR PUBLIC ICO FROM BERMUDA’S MINISTRY OF FINANCE

Funding from the offering will be used to build out a global blockchain network for the issuance, trading and settlement of digital assets

NEW YORK CITY / HAMILTON, BERMUDA — April 11th, 2019 - Velocity Ledger Holdings Limited ”VLHL” has been approved to conduct an initial coin offering “ICO” by the Ministry of Finance of Bermuda in accordance with the companies act of 1981.  VLHL is a Bermuda Company with two subsidiaries for which the ICO will fund operations: VL Financial and Velocity Ledger Technology Limited ("VL Tech").

VL Financial is currently engaged in the application process with the Bermuda Monetary Authority (BMA), which regulates the financial sector, to obtain the required licenses to operate. Following approval by the BMA, VL Financial would operate a digital asset exchange in Bermuda supporting asset-backed investment and real estate tokens.

VL Tech is a private blockchain enabled platform for the generation of tokenized assets, secondary trading and settlement of trades. It is a comprehensive technology solution that operates as Software-as-a-Service (SAAS). Participants utilizing the technology will require token ownership.

VL tokens may be used for payment for licensing VL technology platform and services. Benefits include revenue sharing and monthly distribution of newly minted tokens to stakeholders.   The VL token sale was approved on March 22, 2019 and is expected to commence in the middle of April, through July of 2019.

“Bermuda has adopted pragmatic, non-restrictive frameworks for digital assets that provide regulatory certainty to market participants,” said Shawn Sloves, CEO of Velocity Ledger. “Bermuda will be a focal point for blockchain initiatives globally.”

Premier, the Hon David Burt, JP, MP, said: “Velocity Ledger represents the exact kind of company that Bermuda is pleased to attract. They have a traditional finance industry pedigree and are building solutions for the institutional finance market. Their platform will showcase the potential of what Fintech and Bermuda have to offer. I am pleased that they have been granted a license to issue an ICO and will be proceeding to apply for a Digital Asset Business License. I look forward to them developing their business and creating jobs in Bermuda.”

About Velocity Ledger Technology

Velocity Ledger (VL) is a private blockchain enabled platform operated by Velocity Ledger Technology, Inc. which provides a platform for the generation of tokenized assets, secondary trading and settlement. Velocity Ledger Technology, Inc. is a comprehensive technology solution that operates as a service with tools to support the investment and trading process for Digital Assets and Security Token creation and cryptocurrency. Velocity Ledger’s objective is to provide Software-as-a-Service (SAAS) which will eventually result in greater liquidity, real-time market pricing, cost savings, and transparency. Velocity Ledger is primarily a technology service provider of infrastructure supporting regulated digital asset businesses but will also operate a licensed Digital Asset Exchange in Bermuda.

 Media Contact: Transform PR, This email address is being protected from spambots. You need JavaScript enabled to view it.  

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Velocity Ledger Technology (VLT) Releases Testnet for Compliant Platform for Issuance, Trading and Settlement of Digital Assets in Bermuda

Companies seeking to issue digital assets can utilize Velocity Ledger Technology to conduct an ICO in Bermuda on a white label Software-as-a-Service basis.

May 28, 2019 07:00 ET | Source: Velocity Ledger
NEW YORK CITY / HAMILTON, BERMUDA, May 28, 2019 (GLOBE NEWSWIRE) -- (via Blockchain Wire) Velocity Ledger Technology today released its testnet and blockchain network API. This allows the community to develop applications to integrate with the network for the issuance, trading and settlement of digital asset tokens.

The VLT platform is a compliant platform for issuing, trading and settlement of digital assets in Bermuda, which has been gaining traction as the world’s best jurisdiction to issue ICOs, STOs, NFTs and other digital assets. In addition to Bermuda, VLT will operate in numerous jurisdictions including the U.S., Canada and Asia, and is expected to deploy its main net by Q3 2019.

VLT is allowing early access to the core API with a blockchain viewer for third-party integration as well as a traditional web portal which supports the full lifecycle management of new digital assets. Participants can fill out early request forms on the Velocity Ledger website to connect to the testnet.

Companies seeking to issue digital assets can utilize Velocity Ledger Technology to conduct an ICO in Bermuda on a white label Software-as-a-Service basis. Companies must file independently and be approved by the Ministry of Finance and/or Bermudan Monetary Authority to comply with the BR 65 ICO Regulations of 2018.

Participants interested in using the technology are required to purchase tokens and be stakeholders on the network. Velocity Ledger Holdings Limited ”VLHL” has been approved to conduct an initial coin offering “ICO” by the Ministry of Finance of Bermuda in accordance with the companies act of 1981. The VL token sale was approved on March 22, 2019 and is currently underway. Qualifying participants can purchase tokens directly from www.VelocityLedger.com. Token benefits include revenue sharing and monthly distribution of newly minted tokens to stakeholders.

“The Velocity Ledger Technology stack utilizes core components for matching developed by Fundamental Interactions over seven years and deployed globally by exchange operators and alternative trading systems,” said Julian Jacobson of Velocity Ledger. “Issued tokens can trade and then settle on the public network.”

About Velocity Ledger

VL Financial Ltd. ("VL Financial"), together with its affiliate, Velocity Ledger Technology (Bermuda) Limited ("VL Tech"), are the sole wholly-owned subsidiaries of Velocity Ledger Holding Limited ("VLHL"), all of which were incorporated in 2018 as Bermuda exempted companies limited by shares. VLHL is itself a wholly-owned subsidiary of Velocity Ledger Technology, Inc., a Delaware corporation ("VLTI" and, collectively with VLHL, VL Tech and VL Financial, the "Velocity Ledger Group").

Media Contact: Transform PR, This email address is being protected from spambots. You need JavaScript enabled to view it.

VELOCITY LEDGER FINANCIAL PARTNERS WITH PRIME TRUST TO PROVIDE DIGITAL ASSET ISSUANCE AND CUSTODY 

VELOCITY LEDGER FINANCIAL PARTNERS WITH PRIME TRUST TO PROVIDE DIGITAL ASSET ISSUANCE AND CUSTODY 
 
Velocity Ledger Selects Prime Trust as Preferred Custodian of Digital Assets out of Bermudan Exchange for the Issuance of Structured REIT and Investment Fund Tokens 
NEW YORK CITY / HAMILTON, BERMUDA — February 27, 2019 —  Velocity Ledger Financial, a technology solution supporting the institutional investment and trading processes for digital assets and security tokens, has selected Prime Trust as its preferred custodian. Through this partnership, Velocity Ledger Financial and Prime Trust will facilitate the issuance and custody of digital assets, supporting the growth of tokenized assets in the new digital economy. 
Prime Trust is a qualified custodian that can hold cash and non-cash assets such as stocks, bonds, cryptocurrencies, tokens, real estate, and private business ownership interests.  VL Financial has applied for a Digital Asset Business Act (DABA) license to operate a Digital Assets exchange in Bermuda, where it will operate issuance and secondary trading services for structured REIT and investment tokens.  Issuers and investors in these assets will perform an automated registration with Prime Trust directly from the VL Financial platform to establish custodial accounts for investment operations. 
“Velocity Ledger Financial is an institutionally focused marketplace for digital assets,” says Julian Jacobson, Chief Operating Officer of VL Financial. “The Exchange and Custodial functions are each independently regulated companies with their own enterprise level systems that interoperate around the use of private and public blockchains”.  "We are excited to work with Velocity Ledger as they bring marketplace technology and tools to the emerging digital economy, paving the way for an exciting new future of liquidity options for tokenized assets of all types,” says Scott Purcell, CEO and Chief Trust Officer at Prime Trust.  
 Velocity Ledger Financial is expected to go live at the end of the second quarter of 2019.  
 
About Prime Trust 
Prime Trust is a regulated, chartered financial institution that as a Qualified Custodian provides custody of tokens, FIAT and other alternative and traditional assets, as well as funds processing, AML/KYC compliance, and transaction technology for the new digital economy. Its mission is to provide exchanges, portals, platforms, brokers, investment advisors, stable coins, and others with technology-driven, best-in-class solutions to seamlessly meet the needs of their businesses.
 
About Velocity Ledger
Velocity Ledger (VL) is a private blockchain enabled platform operated by Velocity Ledger Technology, Inc. which provides a platform for the generation of tokenized assets, secondary trading and settlement. Velocity Ledger Technology, Inc. is a comprehensive technology solution that operates as a service with tools to support the investment and trading process for Digital Assets and Security Token creation and cryptocurrency. Velocity Ledger’s objective is to provide Software-as-a-Service (SAAS) which will eventually result in greater liquidity, real-time market pricing, cost savings, and transparency. Velocity Ledger is primarily a technology service provider of infrastructure supporting regulated digital asset businesses but will also operate a licensed Digital Asset Exchange in Bermuda.
 
Media Contact: Transform PR, This email address is being protected from spambots. You need JavaScript enabled to view it. 

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