CoinList, platform behind the $205m Filecoin token sale, will become its own legal entity founded with a new leadership team headed by CEO Andy Bromberg.
The genesis of the company was a collaboration of AngelList, the startup funding platform, and Protocol Labs, creators of Filecoin; CoinList is now positioned to help token issuers stay on the right side of the SEC.
CoinList CEO Andy Bromberg said: "We see the power of a decentralised future but understand that today's digital asset projects often can't handle the compliance and regulatory burden of hosting their own token sales.
"CoinList will start by stepping in and providing our expertise around compliance, tactical execution, and marketing. Our vision is to provide an ever-broader set of financial services to these companies: secondary trading, market making, and much more."
Juan Benet, founder of Protocol Labs, added: "Running a token sale is an enormous amount of work. CoinList handles some of the hardest and most time consuming parts for network creators, so they can focus on what matters.
"On the other side, CoinList standardises and simplifies the investing experience, making it much easier for investors to find the best tokens, evaluate the investments, and execute them. CoinList can help investors navigate a space with hundreds of projects and find the best ones."
The infrastructure backing CoinList has processed over $850 million in transactions, between investments on AngelList and those on its own platform (In August CoinList facilitated the token sale for blockchain-based data storage network Filecoin, helping raise more than $205 million).
In addition to Bromberg (former Co-founder and CEO of Sidewire), the founding members of the San Francisco and New York-based team include Graham Jenkin (former COO of AngelList and Design Lead at Google), Paul Menchov (Co-founder and CTO of Republic), Brian Tubergen (former Director of Fundraising Product at AngelList), and Joshua Slayton (Founding CTO of AngelList).
Kendrick Nguyen of Republic serves as a founding advisor. CoinList also manages a technical advisory committee and a market advisory committee — composed of leading cryptocurrency investors, developers, and more — who perform diligence on emerging technology companies, their teams, whitepapers and code.
CoinList also offers as part of its service a white-labeled compliance infrastructure stack. Purpose-built for token sales, ComplyAPI provides companies with SEC Rule 506 investor accreditation and KYC-AML compliance due diligence through a simple integration and API.