The regulated trading platform Templum Markets announced on Thursday that it will cooperate with CUSIP Global Services (CGS) to provide securities identification numbers to tokenized assets.
According to a press release, this partnership, each token listed on Templum Markets, receives a unique CUSIP identifier to “help standardize the trading and tracking processes within the investor’s portfolio.”
Templum Markets was originally acquired by Templum in February for Liquid M Capital, and later became a registered broker and alternative trading system (ATS), listing tokenized securities on its platform.
According to Investopedia’s data, the Unified Securities Identification Program Committee (CUSIP) has determined that all securities in the United States and Canada, as well as certain products of European Union companies, have a nine-digit identification.
These identifiers can be used to track assets within the investor’s portfolio. There are more than 10 million different kinds of securities, stocks, initial public offerings, funds, etc. in the system.
Templum CEO Chris Pallotta said in a statement that assigning CUSIP numbers to securities tokens would help create new standards and better practices in the cryptocurrency space, adding that “this is indeed a safe token evolution.” And the watershed moments used.”