Tokenized shares are offering a fresh approach to how startups and investors interact. Fintech startup Aktionariat has had its private shares tokenized by SIX Digital Exchange on its regulated blockchain-based Central Securities Depository, with Berner Kantonalbank serving as the issuer agent and custodian.
The conversion of Aktionariat share tokens into bankable shares in the SIX Digital Exchange (SDX) central security depository (CSD) marks an important step towards building a bridge between decentralized finance and traditional finance. The Swiss startup offers a simple and modern solution for raising equity while enabling small and medium-sized companies to manage their shareholders, automatically keeping the associated share register up to date, and conducting digital voting during corporate events.
SDX is the first fully regulated financial market infrastructure for the issuance, trading, settlement, and custody of digital assets. As part of the SIX Group, SDX is licensed by Switzerland's financial market regulator, FINMA, to operate as a stock exchange and CSD on distributed ledger technology (DLT). CSD provides secure bank custody and eliminates the need for shareholders to manage their private keys for ledger-based securities. These digital assets can be stored alongside traditional assets, such as listed shares, ETFs, and structured products, allowing investors to use their existing bank security deposit accounts. Additionally, issuers can benefit by attracting investors who do not wish to maintain public blockchain custody solutions for their private securities.
As part of this initiative, the Berner Kantonal Bank (BEKB) acts as the issuer agent and custodian. The local bank, with the support of Hypothekarbank Lenzburg and daura AG, has been developing a technological infrastructure for the issuance, trading and custody of digital assets to make processes simpler and more efficient for SMEs and open up new markets for investors. It will also open up new investment opportunities for BEKB's clients. Trading will take place based on the existing OTC-X small cap platform.
“With this transaction, the involved players from the traditional finance world are proving that they are open to the integration of assets that were originally issued on an open, permissionless blockchain” says Nicola Plain, CEO of Aktionariat. “This initiative also aligns with SDX's strategy to engage with private market ecosystem partners and the Swiss SME investor community," added Alexander Kech, Head Digital Securities at SDX.
The three parties will now work together to enhance the solution and explore ways to bring it to the market.
(Press release/RAN)
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