BNP Paribas Loads Share Registers On The Blockchain

BNP Paribas Loads Share Registers On The Blockchain

BNP Paribas Securities Services and crowdfunding outfit SmartAngels have loaded the share registers of five of their clients on a new Blockchain platform.

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BNP Paribas Securities Services and crowdfunding outfit SmartAngels have loaded the share registers of five of their clients on a new Blockchain platform.

The Blockchain platform is designed to allow private companies to issue securities on the primary market, while giving investors access to the secondary market, according to finextra.com.

The two companies announced plans to develop the service last year. At the moment, they have introduced several features that will allow private companies to manage the lifecycle of their financial securities, from issuance to the sale and purchase securities.

The program`s goal is to automatically register securities issued by SmartAngels`client companies, processing investor payments and issuing e-certificaties to investors via a distributed ledger, as finextra.com revealed.

The goal is to provide a servie that can meet the needs of clients like issuers, shareholders, investors (business angels, venture and growth capital investors) and crowdfunding platform, as well as lawyer, notaries, accountants, and banks, as the article added.

“We are delighted to be working with SmartAngels on this project and to welcome Sigfox onto the platform during the test phase.”, as Nelson Fernandes, Blockchain, senior business lead at BNP Paribas Securities Services, said.

“We have identified where the processes relating to issuing, buying and selling unlisted stocks needs to be optimised. Our platform aims to deliver a digital solution that meets the needs of all market participants and professionals in these markets.”‘, as he added.

The next phase will be the “industrialisation” of the platform, as the testing is complete. Finally, it wil be comercialized.

SmartAngels are also taking to market a range of share register digitisation and portfolio monitoring services, as finextra.com wrote in a report.

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