Here is our pick of the 3 most important Security Token news stories during the week:
The Austin, Texas-based transfer agent, Vertalo shocked investors after announcing it would transfer its tokens over to the Tezos blockchain. The decision to convert tokens over to the Tezos blockchain comes after Vertalo executives examined the benefits of such a transfer carefully after it announced that its VToken smart contract securities would be produced on the Tezos blockchain, by default, for all new issuers.
Transfer Agent is one of those niche jobs that are a relic of legacy finance. So interesting to see them move into Security Tokens. Plus, it is interesting to see them move from Ethereum to Tezos.
Swiss company Overfuture has been approved to list the first articles of incorporation hosted on the blockchain in Switzerland. Overture will list class A shares hosted on blockchain as they tokenize their Initial Product Offering (ICO), and furthermore, onto secondary trading of the digital asset.
NYLON dominated Legacy Finance but Switzerlend maybe the place for Blockchain Finance. It is a crypto friendly jurisdiction with an open economy and great technology education.
This week, Israeli officials raised eyebrows across the entire blockchain sector after the Israel Securities Authority (ISA) announced that the country would actively pursue the development of a security token trading platform. The decision to actively facilitate security token trading in its jurisdiction is far cry from the country’s neighbors, many of whom, banned crypto trading over the last year.
In Legacy Finance, ventures had to cluster in a few overcrowded expensive cities where the money was. In Blockchain Finance that becomes decentralized so you can build it in Tel Aviv and stay there.
We have a self-imposed constraint of 3 news stories each week because we serve busy senior leaders in Fintech who need just enough information to get on with their job.
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