Codex Protocol and BANKEX Announce Integration Partnership to offer Proof-of-Assets for Arts & Collectibles
Codex Protocol, a decentralized registry for unique assets, and BANKEX a leading global fintech company, have partnered to establish an end-to-end solution for securitization of valuable collectibles. The partnership is an exciting opportunity to provide more liquidity to collectors and more investment opportunities for capital-providers while preserving the privacy of both — something financial markets and individuals increasingly demand.
Bringing capital from public markets to individuals has generally required a prohibitive amount of work and extensive infrastructure for securitization, which in turn, has produced sub-optimal liquidity. Now, unique assets represented by Codex Records will be easy to securitize through the BANKEX platform.
Codex Records represent unique assets and contain the validated, critical information that gives them value and enables them to be valued. Tokenization of art and collectibles from Codex through BANKEX will be extended to the Codex Viewer through this partnership.
The BANKEX Proof-of-Asset protocol (PoA) is a standard that enables a new generation of assets and contracts that together create Decentralized Capital Markets. The protocol facilitates digitization, tokenization, and exchange of real assets using a combination of various smart contracts individually engineered for each type of asset. BANKEX’s mission is to add liquidity to assets that may be undervalued due to the way that traditional financial markets currently operate. The $2 trillion A&C asset class presents a perfect opportunity for the BANKEX solution.
“The Codex Protocol decentralized registry for unique assets offers access to a range of products and services from our partners while maintaining privacy and simplicity. We’re thrilled to bring BANKEX into the Codex ecosystem to further offerings like securitization and look forward to developing end-to-end solutions for the Arts & Collectibles asset class. ” — Mark Lurie, CEO, Codex Protocol
Providing the identity, chain of ownership, and other metadata about an item to determine its provenance, and verifying this critical information within a trusted ecosystem eliminates the constant and costly challenges for accessing services for arts and collectibles, an industry that is ready for transformation. Owners of assets using Codex and BANKEX will have exciting new access to liquidity, which will provide opportunities to add to and maintain the value of their collectibles assets.
“Adding Codex as a partner is part of BANKEX’s strategic effort to establish security tokenization standards in a number of industries. We are already doing this with MovieCoin, with music rights and REIT tokenization also in the pipeline. Each asset class requires building relationships with major asset providers — Codex has relationships with global art auction houses — and $100M+ security token underwriting capability. To facilitate the latter, BANKEX is building technical connection with leading global investment firms and brokers.” — Igor Khmel, CEO, BANKEX.
Codex is the leading decentralized asset registry for the $2 trillion arts & collectibles (“A&C”) ecosystem, which includes art, fine wine, collectible cars, antiques, decorative arts, coins, watches, jewelry, and more. Powered by the CodexCoin native token, the Codex Protocol is open source, allowing third-party players in the A&C ecosystem to build applications and utilize the title system. Codex has launched two initial decentralized apps (beta), Biddable, providing access to unique assets for crypto-holders, and Codex Viewer, to create and manage blockchain identities for your unique assets. The Codex Protocol and CodexCoin will be adopted as the only cryptocurrency by The Codex Consortium, a group of major stakeholders in the A&C space who facilitate over $6 Billion in sales to millions of bidders across tens of thousands of auctions from 5,000 auction houses in over 50 countries.
BANKEX is a global top-50 fintech company developing the Proof-of-Asset Protocol to bring Bank-as-a-Service (BaaS) product modules and blockchain together for the digitization, tokenization & exchange of assets for the development of a global tokenized ecosystem. Leading BANKEX technologies include the Proof-of-Asset Protocol for tokenization, the Plasma Protocol, BANKEX Scan, BANKEX Smart Justice, BANKEX Trust Service, and the Solidity Floating Point Library, among others
For more information, please visit bankex.com/en
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Nothing herein constitutes an offer to sell, or a solicitation of an offer to buy, in any jurisdiction in which it is unlawful to make such an offer or solicitation. Neither the U.S. Securities and Exchange Commission nor any other federal, state, or foreign regulatory authority has approved an investment in the matters contemplated herein.