Stellar Gets Another Boost With TokenSoft ICO Services Expansion

ICO services platform TokenSoft is officially launching support for projects on the Stellar lumens protocol.

The company - which helps crypto startups navigate through legal compliance procedures in the U.S. and internationally - announced Tuesday that it would extend its offerings to include the Stellar platform, having previously assisted ethereum-based projects.

TokenSoft co-founder Mason Borda told CoinDesk that his company had been looking into Stellar since the first quarter of 2018, citing its level of "Maturity" as the reason for accepting it to the platform.

Having seen demand for Stellar in late 2017, Borda said the team was a " little bit skeptical" initially, since Stellar isn't known for enabling token issuance.

"We noticed that not only was there demand for Stellar, but also entrepreneurs and companies were beginning to use Stellar."

This increased demand and adoption convinced the team that projects would continue to launch on Stellar, he said.

While Borda does not see TokenSoft expanding support to any other protocols just yet, he did note that TokenSoft's tools are not dependent on any particular blockchain.

"We consider our tools and services to be sort of agnostic of what underlying blockchain these things launch on, and the reason is that regulations are consistent regardless of what blockchains or tool sets you're using, sort of underlying your product," he said.

The news comes as another boost for the Stellar project, after it was revealed Monday that blockchain startup Chain has been acquired in an undisclosed deal by Lightyear.io, a startup building on the Stellar protocol.

"It's about the platform layer to make the network as powerful and useful as possible for those organizations that want to leverage stellar," he continued.