According to recent reports, a leading U.S.-based blockchain development firm, has acquired a U.S. broker-dealer. The recently acquired broker-dealer is registered with the United States Securities and Exchange Commission (SEC) and the acquisition will reportedly support the firm's existing broker-dealer services. The firm hopes to facilitate a cost-efficient and effective blockchain-based solution for direct, local investment in mini-municipal bonds and promote resident engagement in local financial markets through this acquisition. In related news, tZERO recently announced plans to launch its broker dealer service, tZero Markets, in the first half of 2020. The company is reportedly working closely with regulators on tZero Markets, which will reportedly enable investors to trade digital securities and cryptocurrencies on one platform.
A Swiss information technology company based in Italy, OverFuture SA, recently received approval to incorporate for an initial public offering (IPO) of tokenized shares. According to the firm's IPO prospectus, the offering will consist of 8,399,000 common equity share security tokens on Ethereum with smart contracts provided by the European Digital Assets Exchange. Swiss regulators reportedly approved the firm's initial articles of incorporation, which explicitly state the digital nature of the shares and the use of blockchain technology to maintain the shareholder registry.
ICHX Tech, a Singapore-based firm, will reportedly obtain the first Singapore capital markets services provider license for its securities token platform. According to the firm, the platform will offer institutional investors more options for capital fundraising and investment in digital securities.
A leading provider of consulting services and system solutions recently announced plans to develop an objective crypto-asset investment appraisal benchmark. The benchmark will reportedly offer investors, crypto exchanges and financial information providers objective criteria to evaluate their investments. The consulting firm plans to launch the benchmark in conjunction with a Japanese asset management company and make it available to domestic and overseas institutional investors, financial information vendors and crypto exchanges in early 2020.
To read more about the topics covered in this week's post, see the following:
- ConsenSys Acquires SEC-Registered Broker-Dealer to Tokenize Bonds
- ConsenSys Codefi and a recent acquisition will restore grassroots participation in muni bonds
- Overstock's tZERO to Launch Broker Dealer in First Half of 2020
- Swiss IT Co. Gets Green Light For IPO Using Blockchain
- Singapore Clears Securities Token Platform iSTOX for Full Trading
- NRI Introduces "NRI/IU Crypto-Asset Index Family" – a benchmark for investment appraisal of crypto-assets
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