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Startup seeking to build regulated ICO platform attracts $2.7M in seed funding

Templum, a blockchain startup headquartered in New York, has announced that it has secured $2.7 million in a seed funding round led Raptor Group, Galaxy Investment Partners, Blockchain Capital and firstminute.capital.

In its official release, Templum said that it will use the seed capital for operational expansion, product development, and talent acquisition.

Founded in 2017, Templum intends to become the leading regulatory compliant platform for Initial Coin Offerings (ICOs) as securities and their secondary trading. It has recently inked an agreement with broker dealer Liquid M Capital to launch a regulatory compliant turn-key solution, known as Templum, for the initial issuance and secondary trading of ICOs as securities.

"ICOs offer innovative organizations an efficient alternative for raising capital. However, ICOs in their current form can be highly risky for issuers and investors. Templum will provide the necessary transparency, accountability and investor protection to reduce risks and encourage more widespread acceptance of ICOs," said Chris Pallotta, Templum Founder and Chief Executive Officer.

In response to the SEC’s investigative report on ICO tokens published in July, Templum and Liquid M Capital have recently submitted a letter asking the SEC to grant ICO issuers a grace period of 180 days to remediate any possible violations related to their past ICOs, except those that may have involved fraud.

"We will continue to advocate for the advancement of the digital asset community that is balanced with the need for regulatory compliance and investor protection. We believe narrowly tailored remedial relief solution for these issuers and investors will support the innovative ICO model while helping issuers meet the necessary regulatory requirements within an established securities framework like the one we offer,” Pallotta said.

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