ConsenSys Acquires Broker-Dealer Company to Help Tokenize Bonds

ConsenSys Acquires Broker-Dealer Company to Help Tokenize Bonds

ConsenSys, a prominent blockchain-based company founded by the co-founder of Ethereum Joseph Lubin, has successfully acquired a US-based broker-dealer company, Heritage Financial Systems.

Heritage, a broker-dealer listed with the US SEC was acquired by ConsenSys’ broker-dealer subsidiary, ConsenSys Digital Securities. The information was publicized by ConsenSys’ financial subsidiary Codefi on the 4th of February.

New Acquisition to Strengthen ConsenSys’ Capacities
ConsenSys acquired Heritage to serve as reinforcement for its advisory and broker-dealer capacities which will help the blockchain giant in implementing blockchain technology in the issuance of tokenized bond offerings in the market.

Precisely, ConsenSys plans on applying blockchain technology to the process of deploying automatic bond payments through smart contracts as well as granting bond issuers the ability to track debts. Also, ConsenSys plans on developing tokenized mini-muni bonds through its Codefi subsidiary to give issuers the alternative of selling securities in lesser denominations.

ConsenSys Devoted to Expanding Its STO Expertise
ConsenSys Digital Securities, the broker-dealer subsidiary of the blockchain giant, was established in 2018. This entity helps develop services for issuers looking to release Security Token Offerings or tokens substantiated by real assets like bonds or REITs.

In March last year, ConsenSys Digital Securities collaborated with a prominent US-based STO-oriented enterprise, Satis Group. ConsenSys reported that both enterprises had more than $100 million in joint issuance experience. The collaboration highlighted ConsenSys’ devotion to unearthing the potentials of tokenized assets.

Based on records, STOs have witnessed increasing levels of adoption of recent, giving it a competing edge over Initial Public Offering. STOs and IPOs are methods used by businesses or start-ups to raise capital by making its shares or equity available for purchase to the public.

More and more businesses in the cryptocurrency sector have begun adopting STOs. Just tZERO recently declared its intention to launch a cryptocurrency broker-dealer service before the year runs out.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.