As reported by Finance Magnates, digital security issuer Securitize has paid-out dividends to the holders of Lottery.com security tokens while in the process reportedly becoming the first company to make such a payment via blockchain.
Established in 2017, Securitize is a US-based company offering regulated tokenization services to mainstream companies. It maintains the role of transfer agent responsible for maintaining and updating securities ownership records as well as distributing payments, like shareholder dividends or interest.
Under the terms of this specific deal with Lottery.com, however, the company’s role is uncommon as transfer agents do not usually deliver payments to shareholders.
Carlos Domingo, CEO of Securitize, stated: “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.
“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.”
The transaction was completed late last week with over half of the Lottery.com token holders receiving their payout in USDC.
Matt Clemenson, CCO of Lottery.com, added: “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.”
