Regulated token trading platform Templum Markets is partnering with CUSIP Global Services (CGS) to bring securities identification numbers to tokenized assets, the companies announced Thursday.
The partnership will see every token listed on the former firm's subsidiary, Templum Markets, receive a unique CUSIP identifier to "help standardize the process of trading and tracking [tokenized asset offerings] within investor portfolios," according to a press release.
Templum Markets, the result of Templum's February acquisition of Liquid M Capital, is a registered broker-dealer and alternative trading system (ATS) which lists tokenized securities on its platform.
CUSIP (or Committee on Uniform Securities Identification Procedures) numbers are nine-digit identifiers found on all securities within the U.S. and Canada, as well as certain offerings by firms in the EU, according to Investopedia.
These identifiers can be used to track assets within investor portfolios, the release explains. There are already more than 10 million different securities, stocks, initial public offerings, funds and more within the system.
Chris Pallotta, Templum's CEO, said in a statement that assigning CUSIP numbers to security tokens helps create new standards and best practices within the cryptocurrency space, adding that "this is truly a watershed moment in the evolution and adoption of security tokens."
Templum Markets chief executive Vince Molinari agreed, adding:
Templum itself has already received a CUSIP and international securities identification number, meaning investors subscribed to the service can look up information about the company and its securities.
Stock tracker image via Shutterstock
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