The blockchain startup 20 | 30 raised £ 3m through the sale of tokenized securities through the London Stock Exchange Group (LSEG) platform, CoinDesk writes.
Campaign of 20 | 30 was conceived by LSEG as a demonstration of the possibilities for modernizing financial markets with tokenized securities and implying the use of Fiat by potential investors.
20 | 30 deals with the tokenization of securities using distributed registry technology. The firm participated in the fourth stream of the regulatory sandbox of the Financial Conduct Authority of the United Kingdom (FCA).
LSEG and FCA have previously reported that they are working from 20 | 30 and Nivaura blockchain start-up to prepare the first campaign to place tokenized securities in the UK in compliance with the requirements covering storage, clearing and settlement. The ultimate goal of the project is to create "tools to help companies raise capital in a more efficient and streamlined way."
Someone can use our technology to do all the legal documentation, tokenize these assets and execute them. LSEG has then been forward-thinking enough to help get these orders out to the existing market.
Dr. Avtar Sehra
CEO and chief product architect, Nivaura
After the initial issue of securities on the Ethereum blockchain, the possibility of making transfers on the secondary market will be provided, and then other elements of the private financing market will be reproduced.