Securitize, a digital security issuer, has paid-out dividends to the holders of Lottery.com security tokens, and, per the company, it the first such payment on a blockchain.
The dividend payments were made on Friday to Lottery.com security token holders.
“We couldn’t be more excited and proud to execute our first royalty payment for Lottery.com, a company that has been a big proponent of digital securities from the beginning,” Carlos Domingo, CEO of Securitize, said, commenting on the development.
“This first payment is significant for all of us in the industry. It’s another great step in modernizing capital markets by enabling digital securities. We firmly believe the future of all assets is digital.”
Making blockchain adoption mainstream
Securitize is maintaining the role of transfer agents which is responsible to maintain and update securities ownership records as well as distribute payments, like shareholder dividends or interest. But the company’s role here is odd as transfer agents do not usually deliver the payments to the shareholders.
“Leveraging Securitize’s infrastructure for distribution of the royalty was a no brainer for us. They make it so easy to pay all of our token holders in the way that they want to be paid,” Matt Clemenson, CCO of Lottery.com, said.
Notably, more than half of the Lottery.com token holders received their payout in USDC, making the distribution process much efficient.
Established in 2017, Securitize is based in the United States and is a leading company offering regulated tokenization services to the mainstream companies.
The company is also backed by major conglomerates and financial giants including SBI Group, Banco Santander, MUFG, and Nomura Holdings.
According to CrunchBase, the San Francisco-based company received a total of $26.8 million in funding to date.