Euronext Invests in Token Issuance Platform Tokeny

6 July 2019

Each week we share the latest news in blockchain and finance. This is newsletter #43 and covers European Stock Exchange Euronext's Investment in Tokeny, the Huobi Finance Chain, Fusion's mainnet launch, and much more.

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On the one hand, we don't want to cover Facebook's Libra project too often, because there isn't much substance yet.

But on the other, it's super interesting to see what this project has meant and will mean for regulators, competitors, the ordinary citizen, and even the project's partners.

Consider for instance, the quote below and this: The NY Times wrote this week that most Libra partners signed non-binding agreements and "are hesitant to associate themselves too closely with the Libra project". So apparently these companies (from Mastercard to Stripe), aren't as enthusiastic as Facebook showed them to be.

 

QUOTE

Ethereum is a public blockchain with over 8,000 public nodes, a market capitalization of over $30B and more than 65M unique Ethereum addresses. These metrics [...] make Ethereum an attractive candidate to be a founding member of the Libra Association.

We propose the creation of a hybrid legal co-op/DAO to join the Libra Association. This for-profit entity will run and maintain the Libra validator node and cloud server node and as a co-op will distribute validator rewards to DAO members, proportional to their contribution.

— A quote from this proposal by independent consultant Eva Beylin for Ethereum to join the Libra Association.

 

NEWS

💰 Euronext, which operates stock exchanges across Europe, has invested €5m into tokenization platform Tokeny. The Euronext investment in Tokeny was for a 23.5% stake in the company.

💱 4th largest crypto exchange Huobi is working on a new blockchain called Huobi Finance Chain, with a specific focus on tokenized assets and decentralized finance.

🥅 Fusion launched its mainnet on 30 June. The protocol offers an ecosystem for financial transactions, allowing companies to issue digital versions of physical assets, among others.

🚓 Over 40 US crypto companies have been waiting for months (and some, over a year) to receive approval for their broker-dealer license.It is not so clear what is the reason for this holdup.

📄 One of these could be crypto exchange Gemini, which is planning to apply for a broker-dealer license, most likely with the idea to allow for the trading of tokenized securities in the future.

🏦 The founder of blockchains.com has bought a Nevada-bank for $28mwith the hopes of making it the leading bank for the blockchain industry.

⛔ The Financial Conduct Authority (FCA) has proposed a ban on the sale of crypto-derivatives to retail consumers in the UK.

 

LONGER READS

🏁 A (long) introduction to new P2P lending protocol Constant, and its advantages over other protocols such as Dharma and Compound.

🔍 How blockchain takes us back to medieval times; on DLT use in Finance, by the critical FT Alphaville (free registration required).

 

NEW DEALS

💸 Danish tokenization platform DigiShares is issuing tokenized shares to raise up to €950,000The tokens represent around 11.6% of the entire company.

🇬🇧 TokenMarket's tokenized security offering will commence on 8 Julyraising up to £150,000 from retail investors.

 

POSTSCRIPT

We often find there's simply too much news to share, so here are some small news items we picked up on corporate blockchain efforts:

Fujitsu develops decentralized identification; Nestlé runs a food provenance pilot; 3 of the largest Australian banks are testing a retail finance solution; IBM-Maersk's supply chain solution TradeLens acquires new partners; and Salesforce is looking for biases in AI.

See you next week! 👋

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