Fun

Former British Chancellor’s crypto firm Copper launches tokenized securities platform

News Feed - 2023-11-30 04:11:03

Ana Paula Pereira4 hours agoFormer British Chancellor’s crypto firm Copper launches tokenized securities platformCopper plans to use its arm in the United Arab Emirates, Copper Securities, to capitalize on the demand of institutional investors.524 Total views14 Total sharesListen to article 0:00NewsJoin us on social networksLondon-based crypto trading firm Copper plans to start offering tokenized securities early next year, according to reports on Nov. 29. Under the leadership of former British Chancellor Phillip Hammond, the company expects to capitalize on institutional investors’ demand.


The service is expected to be first rolled out in Abu Dhabi, United Arab Emirates, by its new arm in the country, Copper Securities. The company is reportedly in the process of securing regulatory approval from local authorities.


Copper plans to use blockchain technology to provide securities financing and other payment solutions to institutional clients over the coming months. More than 90 markets around the world will be accessible through the new platform, said the company.


Copper acquired its securities arm earlier this year with the goal of offering tokenized securities within the Abu Dhabi Global Market, an international financial center and free zone on Al Maryah Island.


Hammond has long-standing ties to the region. He has been advising the government of neighboring country Saudi Arabia since 2021, following approval by the United Kingdom’s lobbying watchdog. In the same year, Hammond was appointed as a senior adviser to Copper, before taking over as the company’s chair earlier in 2023. Back then, Hammond shared his thoughts on how blockchain technology can benefit the financial sector:“I remain firmly of the view that the post-Brexit U.K. Financial Services sector needs to embrace Distributed Ledger Technology as a key part of its strategy to remain a major global financial center.” 


Securities tokenization involves converting financial assets like stocks or real estate into digital tokens on a blockchain. Tokenization facilitates access to expensive assets and increases market liquidity by allowing fractional ownership, thus democratizing ownership of financial assets.


Asset tokenization has been a hot topic in 2023, and its popularity is likely to continue growing in the future. In the United Kingdom, investment managers are being encouraged to use blockchain technology to tokenize investment funds, moving away from traditional record-keeping systems. A recent report published by the Investment Association argued that the tokenization of investment funds can lead to a more efficient and transparent financial industry.


Magazine: This is your brain on crypto — Substance abuse grows among crypto traders# Blockchain# UAE# Business# United Kingdom# Tokens# Digital AssetAdd reactionAdd reactionRead moreMainstream approval critical for blockchain games — Gaming execsBitcoin NFT marketplace Bioniq eyes lofty goal of alleviating network congestionLondon Stock Exchange seeks digital assets director

News Feed

Ethereum Breaks Massive Downtrend Price Structure – Momentum Shift?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Crypto Miners in Russia’s Irkutsk Region Fined Almost $1.7 Million This Year
Crypto Miners in Russia’s Irkutsk Region Fined Almost $1.7 Million This Year Authorities in the energy-rich Russian region of Irkutsk have imposed hefty fines on crypto miners th
William Suberg8 hours agoBitcoin teases new volatility as BTC price taps 4-day high near $29.6KBTC price movements edge higher as the Wall Street trading week begins, with Bitcoin building on a weekly close, which gave c
Martin Young4 hours agoBitcoin ETFs to push US slice of crypto ETF trading volume to 99.5% — AnalystApproval of spot Bitcoin ETFs in the United States will likely push the country"s share of crypto ETF trading volumes
Nigerian Blockchain Advocacy Group Says ‘Crypto Is Legit’ — Calls for Regulation of Industry
Nigerian Blockchain Advocacy Group Says "Crypto Is Legit" — Calls for Regulation of Industry The Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Ass
‘Sleeping Bitcoin’ Spends Slow Down Considerably in 2022, as 92 Decade-Old BTC Worth $1.79 Million Wake Up
"Sleeping Bitcoin" Spends Slow Down Considerably in 2022, as 92 Decade-Old BTC Worth $1.79 Million Wake Up While the price of bitcoin has remained range bound and coasting along ju
The Eerie Similarities of Today’s Great Monetary Shift and the Panic-Led Creation of the Federal Reserve System
The Eerie Similarities of Today’s Great Monetary Shift and the Panic-Led Creation of the Federal Reserve System While many Americans believe the U.S. Federal Reserve is the caret
Bitcoin halving will have to battle with ‘weak time of year’ — Coinbase
Ciaran Lyons3 hours agoBitcoin halving will have to battle with ‘weak time of year’ — CoinbaseCoinbase explained that total crypto volumes are slowing down due to the market attempting “to find the next narrative
Terra’s Crypto Tokens UST and Luna Classic Mysteriously Pumped This Week, UST Climbed by 470%
Terra"s Crypto Tokens UST and Luna Classic Mysteriously Pumped This Week, UST Climbed by 470% After the downfall of the two most popular crypto assets on the Terra blockchain, the
Masterminds Behind South African Bitcoin Ponzi Scheme Told to Pay Back Over $291 Million
Masterminds Behind South African Bitcoin Ponzi Scheme Told to Pay Back Over $291 Million Masterminds of one of South Africa’s biggest bitcoin Ponzi schemes, Mirror Trading I
Cryptopunks NFT Collection Joins Axie Infinity and Opensea by Hitting $1 Billion in Sales
Cryptopunks NFT Collection Joins Axie Infinity and Opensea by Hitting $1 Billion in Sales On Saturday, August 28, the non-fungible token (NFT) project Cryptopunk
Trava Knight NFT Open to All, Trava to Expand NFT Rental Marketplace Utilities for Lending Pool
Trava Knight NFT Open to All, Trava to Expand NFT Rental Marketplace Utilities for Lending Pool sponsored Something exciting & sensational is coming for NFT collectors and enthusias