UK Fintech Company released First Regulated Ethereum Bond

The first Ethereum-denominated bond released by UK Fintech company Nivaura on Wednesday
23 November 2017   2059

In cooperation with JPMorgan, Moody’s, RSM UK and more, Blockchain startup Nivaura created the bond for UK-based luxury goods dealer LuxDeco, which will issue it.

As cryptocurrencies or tokenised fiat-currencies become an accepted form of payment mechanism it won’t be long before automated crypto-denominated deals become standard practice, so the fact that we’ve successfully executed a private placement transaction with retail investors puts us in a really good position to help those who follow in LuxDeco’s footsteps.

 

Dr. Avtar Sehra

CEO and Chief Product Architect, Nivaura

The UK’s Financial Conduct Authority (FCA) contributed regulatory oversight to the bond’s development process.

The release could have a considerable impact on bonds specifically. Middlemen contribute time and costs to legacy infrastructure, while their replacement with smart contracts would potentially make bonds available to many more businesses with smaller capital.

The news comes as Bitcoin gets ready for debut on Wall Street through CME Group’s futures.

Bakkt to Unveil Bitcoin Futures Test Date

Along with date announcement, COO Bakkt believes the platform will attract institutional investors and set new standards for the cryptocurrency market
14 June 2019   236

The Bakkt cryptocurrency platform has named the exact start date for testing Bitcoin futures. The first users will be allowed to test the tool on July 22.

According to Bakkt's Operations Director, Adam White, the platform will attract institutional investors and set new standards for the cryptocurrency market.

White pointed out that the wider distribution of cryptocurrencies, in particular, is hampered by unreliable pricing mechanisms and the likelihood of instantly falling rates.

Along with these problem-solving solutions that are new to digital asset markets, Bakkt also brings all the other features that institutions would expect in a versatile and broadly accessible market, including: block trades; a fee holiday through the end of the year to encourage trading; market maker incentive programs to encourage liquid markets; and integrations with ISVs and regulated brokerage platforms.
 

Adam White

COO, Bakkt

At Bakkt, two futures contracts will be presented - with daily and monthly settlements. Risk management and the securing mechanism for these contracts will meet the standards of the traditional derivatives market.