20|30 accepted into FCA's sandbox in the UK

04.07.2018 15:30

The Blockchain startup 20|30 is one of the 29 selected companies that will test their solutions with the regulatory sandbox of UK’s Financial Conduct Authority (FCA). The London Stock Exchange Group and the Fintech company Nivaura will support the startup during the test.

The regulatory sandbox allows businesses to test innovative products, services, business models and delivery mechanisms in a live environment while ensuring that consumers are appropriately protected. It is part of Innovate, an initiative kicked off in 2014 to promote competition in the interest of consumers.

The Financial Conduct Authority (FCA) received 69 applications to cohort four of the regulatory sandbox out of which only 29 will proceed to test. Among them is 20|30 which has activities in Switzerland. The sandbox also offers tools such as restricted authorization, individual guidance, informal steers, waivers and no enforcement action letters.The FCA team will closely oversee tests using a customized regulatory environment for each test. Tests will be conducted on a short-term and small-scale basis and the FCA has worked with the sandbox firms to agree on testing parameters and build in robust consumer safeguards.

The Zug based 20|30 developed DLT-based platform that allows companies to raise capital in a more efficient and streamlined way. As a member in the FCA’s 4th cohort, the startup will conduct one of the UK’s first equity-token offerings. The test at Sandbox will be facilitated in conjunction with London Stock Exchange Group and Nivaura.

Besides being part of the Sandbox, the startup has achieved further milestones. Last year, the team raised £1 million in seed capital after launching its an Investment platform, which is now under testing with exchange partners.

20|30 is also running the Pillar Project in Zug, a movement designed to return ownership of personal data to individuals. In the spring of 2017, the 2030 community came together, planned, prepared, and launched a successful ICO for the Pillar Project, raising over $20 million in 60 hours. The Pillar Project’s goal is to create the world’s best cryptocurrency wallet and use that as a foundation to build a consumer’s personal data locker.

With its pillar wallet already in place, the startup aims to change capital markets by tokenizing shares and to build the exchanges that will trade tens of thousands of securities worldwide. Starting in London, the team is building a network of licensed broker-dealers and a trading platform that will allow people around the world to buy securities on their phones using their Pillar wallets.


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