Nasdaq develop blockchain voting system

Nasdaq and Strate had agreement about deliver a new blockchain solution for South Africa
23 November 2017   636

This solution would bring electronic voting to the capital markets in South Africa. It is based on the tested concept that was developed for Nasdaq’s Estonia market and it will allow with key stakeholders in the market, give shareholders an easy, usability and secure tool for voting remotely and  to provide general meeting services.

This solution is very useful for the South African financial markets because they have many inefficiencies and risks.The solution intended to service clients’ needs across the market from  custodians, transfer secretaries to issuers, asset managers and those holding shares in listed companies.

A major indicator of progress in the capital markets is when technology not only bolsters performance, but also improves efficiency and transparency. By leveraging blockchain, we are able to reduce friction in the voting and proxy assignment process and also ensure that all information is transparent to stakeholders when required and with the proper security, governance and risk procedures in place.

 

Lars Ottersgård

Executive Vice President and Head of Market Technology, Nasdaq

It has some benefits, for example:  information about meetings, agenda items and management proposals is easily reachable, secure (multifactor) identification of shareholders and their representatives, remote participation and proxy assignment, submitting votes before and/or voting during the general meeting, full track record of assigned proxies and casted votes, online/ real-time access to voting results, transparency and auditability of voting results for listed companies and others.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   282

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.