20|30 to Raise £3M on London Stock Exchange

As reported, campaign of 20|30 was conceived by LSEG as a demonstration of the possibilities for modernizing financial markets with tokenized securitie
15 April 2019   423

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.

Bitfinex Shareholder to Start Pre-Orders for IEO

It should be noted there's no official whitepaper for the token and the fact of IEO wasn't confirmed by the operator of trading platform
06 May 2019   289

The Chinese platform RenRenBit, which is an intermediary between cryptocurrency lenders and borrowers, has begun to accept preliminary applications for participation in the public stage of IEO of the Bitcoin exchange Bitfinex. RenRenBit is part of the DGroup company, which is owned by a major Bitfinex shareholder, Zhao Dong, CoinDesk reports.

Note that the operator of the trading platform iFinex Inc. has not yet published the official white paper for its token, and has not even confirmed the fact of IEO itself. Dong is the main source of information on tokensale for $ 1 billion and it was he who distributed the marketing documentation of the LEO token through Weibo, although some top managers from Bitfinex have already mentioned the coin on Twitter.

Retail investors who have undergone a KYC procedure can already commit to invest up to $ 1,000 in USDT equivalent at the IEO's public stage. However, according to the mentioned marketing documentation, if the tokens are sold out to accredited investors by May 10, the tokensale will end in a closed format. As of May 4, the exchange allegedly received a verbal commitment of $ 600 million.

It is worth adding that the fake white paper of Bitfinex token has already appeared on the web, whose authors use the uncertainty around the alleged campaign and the lack of official statements to mislead gullible users. The official white paper has not been released.

CoinMarketCap, a popular analytical resource, meanwhile, excluded Bitfinex quotes from calculations of the average value of digital assets, since they significantly exceed those of other trading platforms.

Earlier, New York State Attorney General Letitia James asked the state Supreme Court to uphold the order for Bitfinex, which does not allow her to renew the credit line from Tether Limited. She warned the court about the high risks for users of the platform and USDT holders.

However, a week ago, Tether Limited's chief lawyer Stuart Hogner stressed that there are no risks for users, although steylcoin is secured only by 74%.

So, Bitfinex could already receive about $ 750 million from the USDT issuer's reserves to ensure liquidity after the fiat funds of the exchange's operator were blocked in the accounts of the Panamanian processing Crypto Capital Corp. in Poland, Portugal, the UK and the USA.