26 July 2017
visit www.avoka.com

BNP Paribas loads first share registers on to blockchain platform

05 July 2017  |  14530 views  |  0 BNP Paribas

BNP Paribas Securities Services and crowdfunding outfit SmartAngels have loaded the share registers of five of their clients onto a new platform designed to allow private companies to issue securities on the primary market and give investors access to the secondary market using blockchain technology.

The two announced plans to develop the service last year and say they have now designed a number of critical functions that will enable private companies to manage the lifecycle of their financial securities, from issuance to the sale and purchase of securities.

The programme has been created to automatically register securities issued by SmartAngels’ client companies, processing investor payments and issuing e-certificates to investors via a distributed ledger. The intention is to create a service capable of meeting the needs of a wide client base, including issuers, shareholders, investors (business angels, venture and growth capital investors) and crowdfunding platforms, as well as lawyers, notaries, accountants, and banks.

The live tests included the register of BNP Paribas Securities client SigFox, a leading internet of things connectivity service, as well as four startup clients, which recently raised funds on the SmartAngels platform.

Nelson Fernandes, Blockchain, senior business lead at BNP Paribas Securities Services, says: “We are delighted to be working with SmartAngels on this project and to welcome Sigfox onto the platform during the test phase. We have identified where the processes relating to issuing, buying and selling unlisted stocks needs to be optimised. Our platform aims to deliver a digital solution that meets the needs of all market participants and professionals in these markets.”

With testing complete, he says the next phase will entail the "industrialisation" of the platform before commercialising it. SmartAngels will also take to market a range of share register digitisation and portfolio monitoring services.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BNP Paribas and AXA co-operate on blockchain-based fund distribution platform

BNP Paribas and AXA co-operate on blockchain-based fund distribution platform

19 April 2017  |  12053 views  |  0 comments | 16 tweets | 18 linkedin
BNP Paribas applies blockchain technology to corporate payments

BNP Paribas applies blockchain technology to corporate payments

21 December 2016  |  21373 views  |  0 comments | 30 tweets | 62 linkedin
BNP Paribas is working with clients on blockchain deployment

BNP Paribas is working with clients on blockchain deployment

26 September 2016  |  18072 views  |  0 comments | 19 tweets | 40 linkedin
BNP Paribas extends crowdfunding blockchain programme

BNP Paribas extends crowdfunding blockchain programme

19 September 2016  |  11526 views  |  0 comments | 15 tweets | 15 linkedin
Bank of Ireland and BNP Paribas announce blockchain breakthroughs

Bank of Ireland and BNP Paribas announce blockchain breakthroughs

05 April 2016  |  22077 views  |  0 comments | 41 tweets | 53 linkedin
BNP Paribas completes blockchain for transaction banking hackathon

BNP Paribas completes blockchain for transaction banking hackathon

02 February 2016  |  9820 views  |  1 comments | 15 tweets | 20 linkedin
BNP Paribas explores the blockchain; SocGen advertises bitcoin-related job

BNP Paribas explores the blockchain; SocGen advertises bitcoin-related job

24 July 2015  |  12078 views  |  0 comments | 14 tweets | 16 linkedin
Blockchain could upend post-trade infrastructure - BNP Paribas analyst

Blockchain could upend post-trade infrastructure - BNP Paribas analyst

06 July 2015  |  11573 views  |  0 comments | 18 tweets | 15 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.www.fisglobal.comdownload the paper nowvisit www.ncr.com

Who is commenting?

A Finextra member Finextra Member Commented on: US firm to implant emp...
A Finextra member Finextra Member Commented on: US firm to implant emp...
A Finextra member Finextra Member Commented on: US firm to implant emp...

Top topics

Most viewed Most shared
UK judge blocks £14bn class action suit against MastercardUK judge blocks £14bn class action su...
10330 views comments | 7 tweets | 6 linkedin
PayPal strikes deals with Chase and CitiPayPal strikes deals with Chase and Citi
9895 views comments | 10 tweets | 6 linkedin
Machines could take over 30% of bank jobs: McKinseyMachines could take over 30% of bank jobs:...
9318 views comments | 28 tweets | 27 linkedin
Yet more deals announced in payments sectorYet more deals announced in payments secto...
9279 views comments | 7 tweets | 21 linkedin
Wells Fargo Control Tower to map customer's digital footprintsWells Fargo Control Tower to map customer'...
8113 views comments | 7 tweets | 5 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job