Republic Considers Building Marketplace while tZERO Broadens Capabilities – Digital Securities Weekly
The Republic of Bitcoin is considering building a marketplace while tZERO, the company behind the first regulated security token offering (STO), has announced that it will expand its capabilities to include securities lending.
The tzero stock is a company that specializes in providing blockchain-based solutions. The company has announced plans to expand its capabilities by building a marketplace while Republic considers the possibility of doing the same.
Trying to Find a Partner
Republic has big expectations for the future of digital assets, fresh off a successful $150 million capital raising. In fact, the firm is seriously contemplating developing its own digital securities platform. Republic CEO Kendrick Nguyen told TechCrunch that the company is actively seeking to partner with a competent exchange that “…delivers excellent customer service and can enable secondary active trading of securities and digital assets.” Republic will create its own answer if a solution that meets these criteria does not emerge within a year, according to Nguyen.
While such a solution may not yet exist in its whole, there are a number of candidates in the mix. Not only is Archax on the way, but tZERO is continuing to expand on its market-leading position. Securitize just established its own highly anticipated marketplace, with an incredibly diversified asset offering at launch.
The previously stated funding round was a Series B led by Valor Equity Partners. This increases Republic’s total fundraising to $186 million to date.
Clearing and Settlement Assistance
Vertical integration is a phrase that has been thrown about a lot recently, and with good reason. Integration of different separate services may often result in increased efficiency and flexibility. By’vertically integrating the clearing and settlement procedures,’ tZERO and its digital security marketplace want to accomplish exactly that in terms of asset onboarding. Fortunately for tZERO, it has recently obtained permission to do so.
“Integrating the clearing function is essential,” says Alan Konevsky, Interim CEO of tZERO. We can grow more quickly and improve the rate at which new customers are onboarded… In the meantime, vertically integrating these functions allows us to keep our focus and priorities aligned while reducing external variables and dependencies that may impact our business’s existential priority on speed and scale, as well as harmonization of our customers’ cross-asset user experience.”
At least four digital securities are set to begin trading on tZERO’s ATS in the next months, according to the company.
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Blockstream released the first ‘tranche’ of their Bitcoin Mining Notes in early April (BMN). These BMNs, which are sold and issued in the form of a digital asset, provide investors the right to a proportional part of Bitcoin mining earnings.
Fast forward to today, and demand for these BMNs is still high, with Blockstream just releasing its sixth tranche. Blockstream claims that its first five BMN issuances have attracted almost $20 million in funding (with this total expected to double after tranche 6).
Those who missed out on these chances can expect to be able to trade BMN digital securities on a secondary market in the coming weeks, with Bitfinex Securities anticipated to list the asset.