A former exec-level employee of the investment bank UBS has reportedly introduced a new digital securities platform, based in America.
Specifically, on November 27, Claude Waelchli – a former UBS expert with over a decade of experience (12 years) working for the bank in different executive roles – has established a platform dubbed “Tokenyz”, dedicated to digital securities issuance.
Waelchli claimed that digital securities can bring about major advantages for the financial sector, since they are able to provide automation for manual processes, make settlements more effective, create liquidity and bring down minimum trade size.
In the long run, Waelchli has plans to establish connections between “tech companies with immense tokenization capability but little financial acumen, and financial services companies locked into their traditional business models.”
“It is our firm belief that the digitization of traditional securities will create exponential growth opportunities in the years ahead.” Waelchli shared.
The digital securities scene is experiencing major development recently. In August 2019, the U.S. SEC granted authorization for Securitize – a Coinbase-supported digital securities platform. The move would give Securitize the power to function as an official records keeper, regarding changes of ownership in securities.
Deutsche Börse Venture Network (DBVN) has reportedly teamed up with the fintech firm from Germany – Cashlink – letting institutional investors to acquire digital securities.