This partnership will see Archax benefit from services proffered by R3, as they bring the ability to support DLT based post-trade activities.
Archax has indicated that they will be integrating a private version of the R3 platform into their services. While this is being done in an effort to offer an all-in-one solution, it also makes this solution a more cost & time efficient one.
In their released announcement, representatives from each, Archax and R3, took the time to comment. The following is what each had to say regarding the partnership.
Graham Rodford, CEO of Archax, stated,
“Our existing systems and partnerships with firms like Aquis, provide the core functionality for our exchange. R3, with its Corda product, provides the final piece of the puzzle on which we can build a truly revolutionary post-trade solution. Although Archax is blockchain agnostic for digital security issuances, we needed an institutional-grade system for our own post-trade use. R3’s permissioned blockchain solution is already used by leading blue-chip organisations so fits the bill perfectly. This partnership will deliver the blockchain efficiency gains for financial markets that are so often talked about, and we believe will be the first of its kind…The current post-trade process in traditional financial markets is hugely inefficient, with many intermediaries involved. This partnership between R3 and Archax will enable us to revolutionise the current post-trade space, removing friction and streamlining activities to improve efficiency and reduce cost.”
Cathy Minter, CRO of R3, stated,
“Working alongside the world’s leading financial institutions, R3 made a conscious decision to leverage blockchain technology to solve real business problems in both complex and highly regulated markets. Representing assets as tokens on a blockchain platform is one of the most impactful applications of the technology and a key focus for R3, too. Archax, with its experienced team and base in London, is building one of the most credible venues for these tokens and will play a key role in driving institutional adoption. As such, our Corda Enterprise platform is ideally-suited for this project, and we look forward to working together to disrupt and revolutionise how financial markets operate.”
Speaking with Graham
We recently had the pleasure of completing an exclusive interview with Archax CEO, Graham Rodford. In this discussion we learn more about, not only Rodford himself, but future plans for the promising Archax.
Founded in 2018, Archax is a London, England based company. Above all, Archax is working to establish themselves as an authority within the digital securities sector. The company is soon approaching the launch date of their anticipated exchange for digital securities.
CEO, Graham Rodford, currently oversees company operations.
Operating out of New York, New York, R3 Corda is an ‘enterprise blockchain software firm’, which was launched in 2015. The company describes their platform as offering the ability to record, manage, and execute financial agreements in an efficient manner.
CEO, David E. Rutter, currently oversees company operations.
In Other News
With an expected launch date rapidly approaching, Archax has caught our attention on multiple occasions. As recently as 2 days ago, we were reporting on a new partnership with HighCastle. The following articles demonstrate a few of the more recent developments announced by Archax.
DX.Exchange Goes Bankrupt – CX Technologies Ltd
Additionally, a host of suppliers have taken suit against the company. These suits run the gambit from unpaid bills to the alleged fraud. The well-known cybersecurity firm, White Hat Ltd is one of the company’s claiming losses due to DX.Exchange actions. Another lawsuit lists Bee2See Dotan B.S. Solutions. This is the firm that handled DX.Exchange targeted marketing. Even the company supplying the servers never got paid – Malam Team.
Writing on the Wall – DX.Exchange
Employees and suppliers knew to take action earlier in the month after the firm closed its doors unexpectedly. At the time, DX.Exchange owner Pinhas Patarkazishvili cited the rising costs and dwindled profits the exchange had left. He told employees that he was searching for a merger or acquisition and if that he was unsuccessful, the company would permanently cease operations.
Security Tokens on the DX.Exchange
Will Employees and Affiliates Get Paid?
VNX Exchange Launches, Calling Luxembourg Home
While there are many hurdles yet to be cleared on the way to the mainstream adoption of digital securities, there is one that remains obvious. This would be a lack of marketplace solutions within the sector.
Looking to fill this void in the sector is VNX exchange. The Luxembourg based company has just announced the launch of their digital assets issuance platform, which will work to facilitate the tokenization and sale of assets. VNX indicates that the potential for a secondary market launch will be evaluated in time.
In an event held to mark the launch of the platform, the company even drew praise from the Luxembourg Minister of Finance, Pierre Gramegna. He stated,
“VNX is one of the success stories of Luxembourg House of Financial Technology, the LHoFT”
A Place to call Home
For those that follow the digital securities sector, a geographical trend may have been noted. With forward thinking regulations, and industry clarity, Luxembourg has begun to establish themselves as a nation open to blockchain based endeavours. This has resulted in more than just VNX calling the European nation home. The following companies are just a couple of examples of this.
While the VNX launch is a positive development for the sector, they are not the first to the table, and will not be the last. The following companies stand to be a two of the major competitors in the same space in which VNX is looking to carve out a place.
Wasting no time in the launch of their services, VNX is providing investors with access to an STO straight out of the gate.
This event will see Korean based, Streami, issue €3 million worth of digital securities. The company itself is solution provider within the world of blockchain through services ranging from a cryptocurrency exchange, to custody, and fiat gateways.
The event garnered commentary from representatives of each, VNX and Streami.
Alexander Tkachenko, CEO of VNX Exchange, stated,
“Streami offering demonstrates the real use case of asset backed tokens to finance VC investments.”
Junhaeng Lee, CEO of Streami, stated,
“I strongly believe in the development of the assets-backed digital financial instruments. VNX offering shows how fundraising for VC industry may evolve and by extension implications to the financial industry. I am very excited and proud that Streami is the first offering presented at VNX platform.”
To learn more about the structuring of these digital securities, make sure to peruse the Streami investor deck HERE.
While first conceived in 2017, VNX exchange was founded in 2018. The company operates within Luxembourg, and hopes to transform FinTech through their platform.
CEO, Alexander Tkachenko, currently oversees company operations.
Tokai Tokyo Financial Holdings to Bring Digital Securities to Japan
After spending months developing within the confines of the MAS FinTech Sandbox, digital exchange, ‘iSTOX’, looks to take its first large step forward – towards Japan.
It was recently
announced that Japan based, Tokai Tokyo Financial Holdings, has acquired a minority share of ICHX Tech (iSTOX ‘mother-company’).
This move represents a first for iSTOX, as the company looks to eventually offer their services to investors worldwide.
iSTOX has had a successful year, as they have been on the receiving end of various investments over this time. The first major example would be the globally renowned, Singapore Exchange (SGX), followed by a series of companies in the following months.
This latest investment, which totals $4.58M, equates to a 4.58% share in ICHX Tech. By acquiring the position, it is expected that digital securities, hosted on the iSTOX platform, will now be available to Japanese investors; this being possible through the brokerage capabilities of Tokai Tokyo Financial Holdings.
MAS FinTech SandBox
One of the reasons behind the success experienced thus far by iSTOX, can be owed to the fact that they are one of a very select group to be admitted into the Monetary Authority of Singapore (MAS) FinTech Sandbox.
This program allows for companies to trial new technologies and products, within a structured environment, allowing for continued public/client protective measures.
iSTOX is a subsidiary of Singapore based, ICHX Tech, which was founded in 2017. The company is fervently working to develop, and attain, adoption for their digital securities exchange. This platform, which is currently operative and accessible by accredited investors, is expected to make a full launch in Q4 of 2019.
CEO, Danny Toe, currently oversees company operations.
The team at iSTOX recently announced new growth, as they welcomed a new CCO – Oi Yee Choo. The following article takes a closer look Oi Yee Choo and what she brings to the table.
Operating out of Tokyo, Japan, Tokai Tokyo Financial Holdings is an investment firm, which was founded in 1929. The company is able to offer its clientele a variety of services, pertinent to securities, such as brokerage, distribution, and more.
Company operations are currently overseen by CEO, Tateaki Ishida.
In Other News
Singapore has rapidly established themselves as a leader within digital securities. With clear regulation, and forward thinking, companies have been able to effectively establish themselves within the Asian nation. The following articles are a few examples, highlighting industry moves which involve Singapore.