09.01.2019 15:30:00
|
Fineqia Signs Up Fintech Firm Nivaura for Crypto Asset Bond UK Regulatory Test
LONDON, January 9, 2019 /PRNewswire/ --
Fineqia International Inc. (the "Company" or "Fineqia") (CSE:
FNQ) (OTC: FNQQF) (Frankfurt: FNQA) is pleased to announce its subsidiary Fineqia Limited, ("Fineqia Ltd") has partnered with Nivaura Limited ("Nivaura") to use its white-label capital markets platform to perform a fully automated tokenised bond issuance and administration, registered and cleared on a public Ethereum blockchain, to conduct its test for issuing crypto asset backed bonds.
Fineqia Ltd's test is required as part of its acceptance into the U.K. Financial Conduct Authority's ('FCA') Sandbox Regulatory Program announced in July 2018. It was amongst 29 companies accepted out of 69 applicants that met the FCA Sandbox eligibility criteria. The test is set to take place in Q1 of 2019, with results also to be obtained in the first quarter.
It will enable owners of crypto currencies such as Bitcoin and Ethereum to borrow fiat funds via the issuance of crypto asset backed bonds. The product has found appeal among institutional owners of crypto assets, such as miners, funds and exchanges, seeking liquidity but not keen on selling their crypto currencies. Fineqia's partnership with Nivaura allows for such institutional asset owners to offer transferable fiat denominated bonds to investors for fixed durations and coupons.
"Nivaura's advanced technology is an enabler of financial transaction lifecycle efficiency and is why we chose to invest in the company last year," said Fineqia CEO, Bundeep Singh Rangar. "It gives the Fineqia platform a simple transaction management workflow with a seamless blockchain-based asset registration and clearing solution."
Fineqia had invested in Nivaura in Jan. 2018, alongside New York-based Digital Currency Group (DCG) and London-based international law firm Allen & Overy, for minority equity interests in Nivaura.
Fineqia Ltd will deploy a fully automated bond issuance and administration platform utilising Nivaura's technology, which enables managing the end-to-end instrument lifecycle at significantly lower cost than existing channels and ensures full compliance with relevant arranging and custody regulations. Issuers will be able to structure, execute and administer legally enforceable bond contracts using public blockchain or traditional clearing infrastructure.
Fineqia Ltd can enable the issuance of asset backed bonds using traditional depository and clearing infrastructure too, using the same Nivaura technology, if required.
About Fineqia International
Fineqia International is a listed entity in Canada (CSE: FNQ), the US (OTC: FNQQF) and Europe (Frankfurt: FNQA). Fineqia International outlines the Company's corporate governance, culture, processes and relations by which the Company and its subsidiaries are controlled, directed and governed. It oversees and ensures the overall success, planning and growth of the Company and all of its subsidiaries and investments, including those propagating blockchain technologies. For more information visit: .
About Fineqia Limited
Fineqia provides a platform and associated services to support security issuances and manage administration of equity and debt securities. It acts as a broker bringing an issuing company's
securities to market, distributing and marketing them as well as transparently highlighting the risks and objectively outlining opportunities involved. For more information visit
About Nivaura
Nivaura is a capital markets technology company building a new way for automated issuance and administration of financial products under the auspices of the U.K. Financial Conduct Authority's "sandbox" regime. Their end-to-end system is capable of managing complexities such as onboarding, legal document structuring and execution, as well as enabling asset registration and clearing through traditional depository and clearing systems and tokenised asset registration and clearing using blockchain infrastructure. The platform can also maintain control of asset administration/servicing
to achieve truly vertical integration.
RISK WARNING
Investing in start-ups and early stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution, and it should be done only as part of a diversified portfolio. Fineqia Ltd is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. You will only be able to invest via Fineqia Ltd once you are registered as sufficiently sophisticated. This page is communicated by Fineqia Ltd and has been approved as a financial promotion by Kession Capital Ltd. Fineqia Ltd, is an appointed representative of Kession Capital Ltd who are authorised and regulated by the Financial Conduct Authority. Investment are not offers of guaranteed returns and investments can only be made by members via Fineqia Ltd on the basis of information provided in the pitches by the companies concerned. Fineqia Ltd takes no responsibility for this information or for any recommendations or opinions made by the companies. Your capital is at risk.
FORWARD-LOOKING STATEMENTS
Some statements in this release may contain forward-looking information (as defined under applicable Canadian securities laws) ("forward-looking statements"). All statements, other than of historical fact, that address activities, events or developments that Fineqia (the "Company") believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward- looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the failure to obtain sufficient financing, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made except as may be required by applicable securities laws. The Company disclaims any intent or obligation to update any forward- looking statement except to the extent required by applicable securities laws.
Fineqia Limited (FRN: 757772) is an appointed representative of Kession Capital Limited (FRN: 582160), which is authorised and regulated by the Financial Conduct Authority in the UK.
For All Enquiries:
Bundeep Singh Rangar
CEO
+1-778-654-2324
Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!
Nachrichten zu Fineqia International Inc Registered Shsmehr Nachrichten
Keine Nachrichten verfügbar. |