Former UBS Executive Establishes Digital Securities Insurance Platform
Ana Alexandre's original article for cointelegraph.com reduced by 42%
A former executive of investment bank UBS has established a United States-based digital securities platform. According to a press release on Nov. 27, Claude Waelchli - who served over 12 years at UBS in various executive positions - launched the Tokenyz platform for issuing digital securities.
Waelchli states that the financial industry can benefit from digital securities as they can automate manual processes, streamline settlements, create liquidity, and lower minimum trade size. Eventually, Waelchli intends to connect "Tech companies with immense tokenization capability but little financial acumen, and financial services companies locked into their traditional business models." Waelchli said, "It is our firm belief that the digitization of traditional securities will create exponential growth opportunities in the years ahead.". In late August, the U.S.
Securities and Exchange Commission registered Securitize, a digital securities platform backed by crypto exchange Coinbase. The registration enabled Securitize to operate as an official keeper of records about changes of ownership in securities. Recently, Deutsche Börse Venture Network partnered with German fintech company Cashlink, allowing institutional investors to obtain digital securities.
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