Agora AltX, a fund administration platform, has announced the launch of Pathchain, a proprietary blockchain that serves as the backbone of Agora’s fund administration service. Currently patent-pending, it provides verifiable, immutable, and complete digital records of financial transactions, transaction participants, and supporting documentation.
Pathchain provides end-to-end automation to alternative fund sponsors, removing friction from the transaction process and providing greater investor transparency.
Agora AltX has already partnered with reputable banking institutions to provide escrow, disbursement, and operating accounts to fund sponsors that seamlessly integrate with the Agora AltX technology. Agora’s technology and service offering has been customized for Opportunity Zone fund administration, a new provision in the 2017 Tax Cuts and Jobs Act, which provides investors capital gain tax benefits.
“The inspiration behind Agora AltX, was to provide a disruptive technological solution that could effectively address the industry’s three greatest threats: cost inefficiency, transactional accountability, and data security. This will be a game changer,” states Nico R. Willis, Agora AltX Managing Director.
Agora AltX’s blockchain technology provides vaulted data security, record transparency, and bank account validation, all of which are critical to keeping complete and timely records, counteracting fraud and abuse, and promoting integrity in Opportunity Zone investments.
“Fund Managers can initiate financial transactions from the Agora AltX interface, knowing complete records are being instantaneously recorded, and distributed to permissioned users. The time and cost savings realized are tremendous and differentiated from other products in the marketplace,” says Kyle Walker, Agora AltX Managing Director.
The Agora AltX Platform offers a comprehensive suite of products and services that lower the overall cost structure of the Opportunity Zone Fund, including: Digital setup for subscriptions, disbursement and operating bank accounts; sub-accounting detail and documentation storage; and Opportunity Zone Business and Investor tracking and reporting. Agora also offers complimentary investment tools for Opportunity Zone Funds to provide their investors. These tools include investor tax optimization, charitable giving analysis, Opportunity Zone portfolio management, and streamlined KYC, AML, and Accreditation checks.