Another island nation is making their case as the new ‘blockchain island’. While this moniker is often attached with Malta, it is Antigua that is has made a recent step forward within the digital securities sector.
In a recent announcement, it was divulged that the Antigua and Barbuda Ministry of Finance & Corporate Governance (MFCG), has signed a memorandum of understanding with Globex and Julius Capital Bank.
This MOU will see new markets developed, supporting the issuance and secondary market trading of digital securities within the country.
In their breakdown of the established relationship, each of the participants bring unique capabilities to the table. The following three points are noted as key contributions:
- MFCG will provide the necessary regulations and greenlight to ensure safe and fair trading practices for all potential market participants.
- Globex will act as a SaaS provider, allowing for a regulatory compliant exchange to be offered
- Julius Capital Bank will provide FIAT gateways, allowing for investors to enter and exit markets without exposure to cryptocurrencies.
As stated, Antigua is not the first nation on track to be a trend setting ‘blockchain island’. An example of another is Seychelles – an idyllic island situated in the Indian Ocean.
Seychelles has recently made waves, as homegrown exchange, MERJ, has announced the launch of a digital securities trading platform.
MERJ Exchange CEO, Ed Tuohy, recently completed an exclusive interview with securities.io, where he discussed the company’s current and future capabilities. Check out the interview below to learn more about how MERJ is shaping the sector.
Upon announcing their signed MOU, representatives from each organization took the time to comment. The following is what each had to say on the matter.
Brian Collins, CEO of Globex, stated,
“Ethereum public blockchain integrated with our suite of tokenization, KYC/AML, custody and on-chain trading solutions will encourage market adoption and fuel market growth.”
Gaston Browne, Prime Minister of Antigua, stated,
“The Antiguan government strongly supports public blockchain technology and believes in the positive impact it will have on how the world trades securities…We are thrilled to become a trusted hub for international issuers, investors and market participants to seamlessly and securely conduct affordable digital securities offerings and offer transparent secondary trading in an internationally compliant and regulated manner…We also believe this technology will pave the way to frictionless blockchain real estate investment services for a global investor base, giving investors access to the lucrative opportunities that our beautiful twin-island state has to offer.”
Julius Capital Bank
Julius Capital is a bank, operating under a licence granted within Antigua. They provide clients with a series of banking services and wealth management solutions. The company indicates that insight, growth, trust, and confidentiality are their guiding values.
Operating out of Zug, Crypto Valley, Switzerland, Globex functions as a software-as-a-service (SaaS) company. They were originally launched in 2010, with company operations overseen by CEO, Brian Collins.
We have recently had the pleasure of interviewing Brian Collins, gaining insight into Globex and their various offerings. Check out the exclusive interview to learn more about this forward thinking company.
In Other News
With the development of various services tailored towards the digital securities sector, it should come as no surprise that Globex has graced our headlines on various occasions. The following articles detail a few of these services, and provide examples of adoption seen thus far.
Siemens to Tackle Green Energy with Swarm Capital
Clean and renewable energy: The concept is simple, however, the execution is anything but. In an effort to aid the continued development and adoption of sustainable energy, worldwide tech giant, Siemens, has turned to a popular blockchain service provider – Swarm.
Today, this pairing of companies announced that Swarm has been tasked with developing an efficient, and effective, solution to facilitate the funding of energy projects in Africa. This task will be completed through use of the company’s recently announced premium tokenization service, Swarm Capital.
While details regarding the partnership are still scarce at this time, this is most definitely a positive announcement. Not only does it mark continued early adoption of Swarm Capital, but also the entrance of a global titan of industry in Siemens, into the world of blockchain.
Announced mere weeks ago, Swarm Capital is a service provider platform, offering premium services through a modular platform. This platform, which is built on the Swarm protocol, is meant to be a comprehensive solution for any company looking to tokenize an asset.
In their partnership announcement, the team at Swarm took the time to comment on why blockchain is a good fit with future energy solutions through Siemens. They stated,
“One of the most compelling use cases for tokenization is in the energy sector, which has been brought to the fore lately in public discussions concerned with energy accountability, transparency, and sustainability. The energy industry is abundant with potential use cases — from the tokenization of energy itself to the digital representation of carbon emissions.”
Swarm is a U.S. based company, which was launched in 2018. In the time since, the team at Swarm has developed a myriad of services and solutions for the digital securities sector, including specialized token standards, open protocol, and more.
Cofounders, Philipp Pieper and Timo Lehes, currently oversee company operations.
Founded in 1847, Siemens has withstood the test of time, establishing themselves as a world leader in manufacturing and tech industries. The company has done this by continually looking towards, and planning for, the future – as evident by the partnership described here today.
CEO, Joe Kaeser, currently oversees company operations.
In Other News
For a few years now, we have seen various companies attempt to integrate green energy and blockchain. We have, in the past, detailed multiple companies that fall into this camp. While integrating blockchain and green energy in a different manner than the development discussed here today, the following articles demonstrate another avenue in which the two sectors can coincide.
CoinShares Issues Gold-Backed DGLD Tokens
CoinShares made a splash across the tokenization community this week after announcing a new gold-backed token network. The network will allow investors to take advantage of the stability of gold, whilst still enjoying the added security and efficiency of a blockchain-based system.
How CoinShares New Platform Works
According to CoinShares’ executives, each token represents physical gold. To be exact, each DGLD token is backed by 1/10 Troy ounce. This gold is held by one of Switzerland’s premier precious metal traders MKS SA.
MKS SA – Swiss Precious Metals Trader
For their part, MKS SA will hold the gold reserves and allow for third-party auditing to occur. In total, the firm put aside just over $20 million in gold for the tokenization strategy. Notably, MKS SA already hosts a large precious metal trading network. Consequently, tokenizing their gold provides far more liquidity than traditional EFTs.
Speaking on the new tokenization strategy, CoinShares’ Chairman, Danny Masters explained the advantages of the maneuver. For one, gold is considered one of the most stable assets on the planet. Now combine that stability with the security of a blockchain network, and you get a frictionless trading system that has the capabilities to function internationally.
Eliminates 3rd Parties
Masters also discussed how CoinShares eliminates many of the third-party verification systems encountered when investing in Gold EFTs. Each of these verification steps adds costs and time to the total transaction. Now investors can eliminate these delays and save money on fees.
Gold on Bitcoin Blockchain – CoinShares
CoinShares decided to utilize the Bitcoin blockchain as its core anchor for the platform. This was a smart strategy as Bitcoin is the largest and most secure blockchain on the planet. To make the concept a reality, CoinShares incorporated CommerceBlock’s Ocean sidechain.
Sidechains Are the Biz
Sidechains such as Ocean, Liquid, or the Lightning Network allow users to conduct faster transactions with fewer fees. Also, these second layer protocols enable developers to utilize additional functionalities not found on the original Bitcoin blockchain.
Smart contracts are a perfect example of how sidechains benefit Bitcoin. Technically, Bitcoin’s blockchain can handle smart contracts but it’s far less capable than the robust capabilities found in the Ocean sidechain.
Partnered with BTC Wallet Provider – Blockchain
Another key component of the venture is a strategic partnership with the crypto wallet provider Blockchain. Blockchain needed to create a means for investors to store their gold-backed crypto easily and efficiently.
CoinShares’ new gold-backed token is open to both retail and institutional investors. Currently, the product is available in 200+ countries via Blockchain’s crypto exchange – PIT. Notably, the platform requires AML and KYC adherence as part of the company’s regulation-friendly approach to the market.
CoinShares is ready to provide clients with a stable alternative in the crypto sector. The firm has years of experience connecting traders with profitable tokens. Now, CoinShares wants to take its experience and enter the tokenized precious metals markets in a major way. You can expect to see more headlines from these developers as CoinShares’ strategy unfolds over the coming weeks.
VeVue Signs Partnerswith CBX for Token Launch
The blockchain-based social media platform, VeVue announced plans to host an STO in the coming weeks. The company intends to expand the platform’s capabilities with the funds raised. Now content creators have a more lucrative alternative to consider moving forward.
News of the company’s intentions first broke via an October 14 press release. In the post, the company announces its new strategy and partnership. As part of the firm’s new crowdfunding approach, VeVue partnered with the hugely popular CBX exchange.
For its part, CBX will be responsible for the sales, token issuance, and distribution of the VUE token. CBX is one of the largest crypto exchanges based in the Middle East. The firm operates a fully compliant EU exchange. Developers integrated both AML and KYC protocols directly into its trading platform.
CBX recently launched a campaign with Alibaba competitor GoJoyin in which the platform secured over $10 million in funding. The experience gained in this campaign will be critical for VeVue STO’s success.
The VeVue STO will commence on October 28, 2019, at 4 pm PST. Interestingly, the event is scheduled to only last 48 hours. CBX intends to issue 5 million VUE tokens to qualified non-US investors. Vevue also announced that there will only be 100 million VUE tokens in total available to investors. Of these tokens, 35 million are reserved for investor purchases.
Vevue and CBX Unique Strategy
CBX and Vevue have a unique strategy for their crowdfunding efforts. The company intends to host an STO monthly moving forward. Additionally, these auctions will be Dutch-style. Basically, the official token price is set after taking in all bids.
Highest-Price VeVue STO
This strategy enables the firm to receive the highest price for the total offering. For example, investors place their bids which include the price and quantity they desire. The firm will then accept the top 5 million bids for the tokens.
VUE Token Benefits
VUE token holders receive a portion of gross revenue collected via the VeVue social media app. Consequently, investors actively earn from VeVue’s ecosystem. The App provides content creators with a revenue-generating outlet. Here, users can create and monetize content such as videos easily.
VeVue Transaction Fees
Vevue charges a 5% transaction fee on the monetized content. This fee then enters into the dividend pool from which STO investors receive payments daily. Importantly, dividends are paid in VUE tokens. This unique strategy encourages users to create high-quality content to earn more tokens.
Next Level Social Media
Traditional social media doesn’t allow users the opportunity to earn from their content contributions. In fact, the current social media giants provide content creators with zero payment for their efforts.
Social Media Heat
VeVue’s timing is impeccable as social media giants such as Facebook continue to confront lawmakers over a myriad of concerns. Facebook, in particular, appears to be in the target of regulators after announcing plans to issue its own native cryptocurrency called the Libra.
A Better Social Media Alternative
VeVue appears to have unlocked a better way to social media for everyone. Providing users with an opportunity to earn tokens for their content is a smart concept that has proved to be a great alternative in the past. You can expect to hear more from VeVue in the coming weeks as its STOs hit the market.