It was recently announced that Piemonte Holding has not only completed their issuance of a $16.2 million Ethereum based bond, but that it is now live for trading through secondary markets amongst Piemonte clients.
This development was made possible through utilizing a tech-stack, made available by Horizon. The company indicates that some of the solutions afforded to Piemonte include the following:
- Compliance measures
- Trading solutions
Piemonte indicates that this announcement represents the fruition of multiple years’ worth of hard work. They state that in as early as 2017, they began to experiment with and incorporate blockchain and its various benefits within their own operations.
One of the #1 draws, and promises, surrounding digital securities is the potential liquidity they will afford investors in the future.
For this promise of liquidity to become a reality, there need to be secondary exchanges hosting these tokens, creating and providing a marketplace for them to be traded. Without this capability, a major part of the allure revolving around digital securities disappears.
Horizon is not the only company that has set out with the goal of establishing a respected secondary marketplace for digital securities. They do, however, remain one of the first to go live with their offering.
The following companies are just a few of those that are known to be developing similar solutions:
Upon announcing the developments discussed here today, representatives from each, Piemonte and Horizon, took the time to comment.
Alessandro Lombardi, CEO of Piemonte, states,
“In August we issued our tokenized Smart Bond and today we’re launching the first regulated bond-trading marketplace on a public blockchain…Although this Smart Bond’s issuance was limited to qualified private investors, the Smart Bond was fully subscribed with zero distribution efforts made by Piemonte. We can only imagine the distribution and liquidity potential of future blockchain bond offerings once these competitive bonds are open to the general public…We believe we are making a transformational and historical deal by streamlining our book-building, investor compliance, asset allocation and bond custody using Horizon’s technology…We share Horizon’s compliance values and believe that this integrated approach helps to provide a streamlined path to usher the bond market into the digital era. We believe that it’s no longer a matter of us asking IF blockchain will underpin major global securities platforms; after today, it’s only a matter of WHEN.”
Brian Collins, CEO of Horizon, states,
“The idea that blockchain could have the potential to open and bring liquidity to the bond market has been discussed, and trialed, at length. Today, we’re proud to work alongside Piemonte to bring their compliance-focused bond market concept to fruition and introduce liquidity potential to a historically illiquid market with our integrated issuance, KYC, AML, custody, and trading solutions.”
Founded in 2012, Piemonte Holding maintains operations in Rio de Janeiro, Brazil. The company specializes as an investment manager, by developing, and managing, custom financial products for its clientele.
CEO, Alessandro Lombardi, currently oversees company operations.
Operating out of Zug, Switzerland, Horizon is ‘Software-as-a-Solution (SaaS) company, which was founded in 2010.
CEO, Brian Collins, currently oversees company operations.
We recently took a deeper look at the company, and what it is they have to offer. If interested in learning more about Horizon, be sure to peruse the following article.
Speaking with Brian
Earlier this year, we had the pleasure of completing an exclusive interview with Horizon CEO, Brian Collins, accompanying our own look into the company. In the following interview we learn more about what the company has achieved so far, and where they plan to go in the future.
In Other News
Horizon has been on a tear lately, with a string of positive developments. One example of this is the successful completion of their Series A – validating belief, and interest, in the company and what they have to offer.