Circle Acquires Crowdfunding Platform SeedInvest and a New Exchange Enters the Stage
As mentioned in our article on the Fintech Disrupt Summit, banks and other financial institutions are working more on (and with) blockchain technology than we may realize.
Some of these projects will not proceed after the PoC stage, or will get shut down because of a lack of funding or willingness to experiment and innovate.
But in some cases, blockchain projects do in fact get implemented — but their use of blockchain or DLT is simply not visible to the outside world.
There are other uses for security tokens outside of a capital raise.
Internal cap-table management through employee stock pools and economic incentive programs can revolutionize HR and operations for public and private corporations alike — no funding required.
— Security Token Market CEO Kyle Sonlin on Twitter
💰 Circle has acquired equity crowdfunding platform SeedInvest for an undisclosed amount. The step fits with the company’s vision of the tokenization of financial assets & democratization of finance.
💹 After raising $3 million in August last year, security token exchange ABE Global has come out of stealth mode. The exchange will leverage a network of branches worldwide (such as Malta) to allow investors to trade securities listed in other jurisdictions.
⛰️ Around 20% of a Zug (or ‘Cryptovalley’)-based property was tokenized and sold to investors for a bit under $3 million, using the CryptoFranc stablecoin. Three companies: Blockimmo, Elea Labs and Swiss Crypto Tokens, were involved in the project.
➰ In a test, Polymath and Loopring showcased the possibility of decentralized trading of security tokens. The trade occurred between wrapped ETH and an ST-20 token named Cammazol.
🇮🇱 In a report, the Israel Securities Authority has recommended to create an enhanced-regulation cryptocurrency exchange, which would also allow companies to issue digital tokens.
👛 The research arm of Binance issued a report analyzing the JP Morgan stablecoin. It offers an elaborate insight in the goals and applications of the coin, including a comparison with Ripple.
🖥️ INDX is launching a masternode-based tokenized security on 1 May 2019. The funds (up to $15m) will be used to create a portfolio of masternodes, with 50% of returns reinvested and 50% distributed to token holders.
This week, the King of the Netherlands joined a discussion with the Dutch Authority for the Financial Markets (AFM). One of the topics discussed was the role of the AFM with regards to innovation and new technologies.
Interestingly, representatives from different companies (like Bloqhouse, Nxchange and pension fund APG), who actively work on tokenization and blockchain projects, were specifically invited to attend.
That is one of the benefits of a small country like the Netherlands; although we are small, we sometimes move faster than our larger counterparts.
See you next week! 👋
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SecurityToken.it is created by Infloat. At Infloat, we actively explore the applications and potential benefits of tokenized assets.