Xen Launches First Licensed Blockchain-Enabled Wealth Management Platform for Affluent Investors in Asia
Xen is the first wealth management platform with a license to issue and trade Security Tokens. Xen is operating under a regulatory sandbox license in Mauritius, to create a blockchain-enabled platform for affluent, digitally-savvy investors in Asia to tap into a US$15 trillion alternative investments market.
- Xen provides Asian affluent investors liquidity and access to alternative investments through its blockchain and smart contract-enabled wealth management platform
- Using blockchain technology, robust security measures and compliance with global KYC/AML standards, Xen will issue security tokens that represent investments in top performing alternative investment managers (hedge funds, private equity funds, real estate funds, etc.)
- Xen has launched a beta version of its platform, for Asian affluent investors to invest in a quantitative hedge fund with a 5-year track record, through the XEN_Q security token
Singapore and Mauritius, 14 December 2018 — Xen Technologies Pte. Ltd. and XenTechnologies Ltd. (collectively, “Xen”), the first-of-its kind wealth management platform using blockchain to give affluent investors liquidity and access to alternative investments to achieve active returns, launched today.
Xen has launched a beta version of its platform, which will transform the wealth management industry by allowing affluent investors who meet accreditation and KYC requirements, to invest in top performing alternative investments in the form of Xen security tokens.
Katrina Cokeng, CEO and Co-Founder of Xen, said “Xen is reinventing and democratising access to wealth creation by using blockchain to tokenize illiquid assets. We’re transforming the Asian wealth management industry with a solution tailored to digitally-savvy affluent investors seeking transparency and control. Our security token is tied to high-performing alternative investments that were traditionally only available to institutional investors and high-net-worth individuals.”
Xen is one of the only licensed security token issuance and trading platforms globally, with a regulatory sandbox license in Mauritius. This allows Xen to ensure the utmost transparency and investor protection. The platform can issue Xen security tokens, operate a security token trading platform, and create blockchain wallets for investors.
According to the terms and conditions attached to the license, Xen has been issued a Regulatory Sandbox License for the issuance of XEN tokens and to operate a blockchain-enabled XEN platform and digital wallet for expert investors through a proprietary robo-advisory algorithm. “XenTechnologies promises to be a project that will change the landscape of traditional wealth management. The combination of Artificial Intelligence and financial services is indeed something to look forward to, and I am very pleased that this project has been licensed in Mauritius. Such innovative projects will further enhance the sophistication of Mauritius to become the leading Fintech Hub in the region” says François Guibert, CEO of the Mauritius Economic Development Board.
In the beta phase, clients simply invest fiat in a top-performing quantitative hedge fund and in return receive an equivalent amount of XEN_Q tokens — security tokens that represent a digital certificate of ownership in the fund. After the lock-up period, the XEN_Q token can be traded for liquidity on Xen’s regulated security token trading platform, which is powered by blockchain and smart contracts.
Xen is helmed by product, technology and investment professionals with deep experience in traditional finance and fintech. They bring experience from McKinsey & Company, Deutsche Bank and Merrill Lynch, and have co-founded innovative technology firms such as Oriente and Algante.
Co-Founder Manish Sansi said: “We are revolutionising the future of wealth management by using blockchain for the utmost transparency, security and cost efficiency. We will select the best alternative investment opportunities for our clients, and use the most cutting-edge technology to give liquidity and control back to them.”
Xen is backed by venture investors and family offices including Gaurav Dhawan, CEO and majority Shareholder of Phoenix Group, a multi-billion dollar global commodities player, who provide not only capital but also a wide network of regulatory advisors and specialists to support Xen’s utmost compliance with the highest Regulatory and Governance standards.
Xen will fully launch its platform to global accredited investors that meet KYC/AML requirements in February 2019. Participants will be able to invest in multiple alternative investment vehicles through Xen’s security tokens and achieve liquidity through its licensed trading platform.
Xen is the first-of-its-kind wealth management platform enabling affluent investors access to alternative investments to achieve active returns. Founded by a strong management team of former investment bankers, traders and fintech veterans in 2018, Xen envisions a future of wealth management powered by blockchain and tokenization for the utmost transparency, liquidity and cost efficiency. https://xen.net