Templum

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Templum
Templumlogo highres.jpg
Founded 2017
Headquarters New York, New York
Key People Vincent Molinari, Co-Founder, CEO; Christopher Pallotta, Co-Founder; Joseph K. Latona, Chief of Staff; Bernard Van der Lande, CIO
Twitter @tradetemplum
LinkedIn Profile
Website Templum Home Page
Releases Company News

Templum Markets, a registered broker dealer, operates an alternative trading system (ATS) registered with the U.S. Securities and Exchange Commission (SEC) for the issuance and secondary market trading of security tokens.

Background

Templum Markets was formed by the combination of Liquid M Capital, a registered broker dealer, and Templum, a financial technology company, which partnered to address the demand for regulated initial coin offering and security token trading.

Liquid M

The CEO of Liquid M Capital, or Liquid Markets Capital, was Vincent Molinari. Molinari and Joseph K. Latona were previously CEO and COO respectively of Gate Global Impact, which petitioned the SEC in 2015 for amendments to the SEC's Regulation ATS to facilitate the sale of what they characterized then as "unregistered securities." Gate's petition indicates that securities arising from the 2012 JOBS Act were the intended target. [1] Doing business as Liquid M Capital, the entity in October 2017 announced a strategic partnership with Templum LLC in order to launch a digital asset platform. As of September 2018 Liquid M was operating as a subsidiary of Templum LLC, Templum having acquired it on February 7, 2018.[2][3]

Templum LLC

In October 2017, Templum raised $2.7 million in venture funding to start an ATS for primary and secondary markets in ICOs. Partnering with and then acquiring Liduid M, Templum formed Templum Markets.[4] On April 25, 2018 Templum announced that it had closed a $10 million round led by Japanese venture investor SBI Holdings.[5]

Templum Markets

On January 22, 2018 Templum and Liquid M, doing business as Templum Markets, announced that they had conducted the first fully compliant security token transaction on their platform. According to Templum, two institutions traded tokens issued by Blockchain Capital LLC.[6]

Indiegogo, a crowdfunding service, joined with Templum Markets to allow Aspen Digital to offer $18 million worth of tokens backed by the Aspen, Colorado, St. Regis resort on the Templum Markets platform in Septmber 2018.[7]

Molinari, as CEO of Templum Markets, provided testimony to the U.S. Senate Committee on Banking, Housing and Urban Affairs on October 10, 2018 in which he addressed a number of what he characterized as necessary revisions to the Securities Exchange Act to allow for proper regulation of digital assets as securities. Molinari asked, among other things, that the U.S. Congress update laws for securities settlements, clearing agencies and houses, transfer agents, depositories and securities custody arrangements as well as instruct the SEC to solicit public input on properly regulating digital assets.[8]

Private Blockchain

Symbiont, a New York City-based developer of platforms for institutional applications of blockchain technology, announced on February 25, 2019, that it was partnering with Templum to develop a private blockchain for issuing and trading securities on Templum Markets.[9] Earlier, Templum had invited issuers to specify themselves what blockchain to use. In an interview with CoinDesk Molinari expressed concerns about the capacity of the Ethereum network to process transactions in a timely manner in times of high demand. Palotta also said, “We believe for securities issuance, you need a private, controlled blockchain … [you] need control of the full lifecycle.”[10]


Key People

  • Vincent Molinari - Co-Founder, CEO
  • Christopher Pallotta - Co-Founder
  • Joseph K. Latona - Chief of Staff
  • Bernard Van der Lande - CIO

References