Atrium, Justin Kan’s legal tech startup, launches a fintech and blockchain division

Atrium, the legal startup co-founded by Justin Kan of Twitch fame, is jumping into the blockchain space today. The company has raised plenty of money — including $65 million from a16z last September — so rather than an ICO or token sale, this is a consultancy business. Atrium uses machine learning to digitize legal documents and develop applications for client use, and now it is officially applying that to fintech and blockchain businesses. The division has been operating quietly for months and the scope of work that it covers includes the legality and regulatory concerns around tokens, but also business-focused areas including token utility, tokenomics and general blockchain tech. “We have a bunch of clients wanting to do token offerings and looking into the legality,” Kan told TechCrunch in an interview. “A lot of our advisory work is around the token offering and how it operates.” The commitment is such that the company is even accepting Bitcoin and Bitcoin Cash for payments through crypto processing service BitPay. While the ICO market has quietened over the past year following huge valuation losses market-wide, up to 90 percent in some cases with many ICO tokens now effectively worthless, there’s a new anticipation around regulatory-friendly security token offering (STO) options. Coinbase, for one, has backed STO platforms and its CEO Brian Armstrong has spoken of his belief that the cap table of the future is tokenized, allowing company tokens to be freely traded worldwide. According to Armstrong, Coinbase could potentially host “millions” of STOs in the future. If even a fraction of that number is to exist, companies will need advisors to help with structure and regulatory compliance. Many legal firms are already making a proverbial killing and, just like its core business, Atrium wants to use its tech-centric platform to offer a more efficient and cheaper alternative
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