GRADA launches tokenized asset fund administration

Cayman Compass is the Cayman Islands' most trusted news website. We provide you with the latest breaking news from the Cayman Islands, as well as other parts of the Caribbean.
Cayman Compass is the Cayman Islands' most trusted news website. We provide you with the latest breaking news from the Cayman Islands, as well as other parts of the Caribbean.

Global Risk and Data Authority Limited announced that it is now able to offer full fund administration services for funds that tokenize assets or issue share classes in cryptocurrencies. The service, via its subsidiary GRADA Tokenized Fund Administration Ltd., allows managers to take advantage of the growing interest in cryptocurrencies as well as Initial Coin Offerings.

Bob Taylor, head of Corporate Development for GRADA said managers want to add non-fiat share classes to take advantage of the growth in use of cryptocurrencies. “GRADA Tokenized Fund Administration is the only administrator that will administer a fund with non-fiat share classes,” he said.

The GRADA Oracle technology ensures that all token holders at both the initial tokenization event and on subsequent transfers have proper KYC and AML, as required by most regulatory authorities.

By interfacing GRADA Oracle technology with the portfolio accounting and transfer agency features of the Titan Platform by Advanced Alternative Investment Systems Ltd., the company said, the combined solution allows for validation of blockchain wallets, confirmation of know your customer and anti-money laundering information on issued tokens and full multicurrency accounting for underlying investments.

“Given the potential for significant transaction volumes, breadth of products, and need for scale, Titan was the perfect choice for us,” Mr. Taylor said.

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