Harbor Now Has Both Broker-Dealer and Transfer Agent Licenses in the US
Security token startup Harbor has been issued a transfer agent license by the U.S. Securities and Exchange Commission (SEC), making it the first blockchain company to receive such a license. Harbor, which already has a broker-dealer license, recently tokenized more than $100 million in real estate funds.
Why it matters:
- Tokenizing traditional assets has been a much-touted use case for blockchain. Real-world examples have been slow to take off as firms work their way through existing regulatory frameworks.
- Harbor’s news comes days after Paxos was awarded a no-action letter allowing them to act as a transfer agent on a private blockchain. With the proper licensing in place, crypto firms are now in place to begin challenging incumbents.
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