Polymath Coin is the native cryptocurrency of Polymath, a global platform that facilitates the creation and investment of security tokens. Polymath aims to achieve compliance by integrating the necessary regulatory requirements into smart contracts through its blockchain security token standard.
The project simplifies the creation and sale process of security tokens and mandates compliance through the whitelisting of investors and Ethereum wallet addresses. POLY tokens are used for payments on the platform and facilitate exchanges between issuers, investors, service providers, and developers.
Polymath (POLY) is a platform that simplifies the creation, launch, and management of digital securities on the blockchain. The platform currently lists 196 tokens in the market and has distributed over 200 tokens using its Ethereum-based solution.
The platform lists the tokenization of both traditional liquid assets and non-traditional illiquid assets. Security tokens eliminate traditional intermediaries and enhance resource creation and transactions by integrating company actions.
Additionally, the platform utilizes ERC1400 in the token creation process. POLY was founded by Trevor Koverko and Chris Housser in 2017, with its first smart contract created on Ethereum in January 2018.