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Canadian Securities Exchange preps blockchain-based clearinghouse

14 February 2018  |  8563 views  |  0 Stock exchange screen

The Canadian Securities Exchange (CSE) has unveiled plans for a blockchain-based clearing and settlement platform.

The platform will enable companies to issue conventional equity and debt through tokenised securities, which would be offered to investors through Security Token Offerings (STOs).

The CSE has yet to file an application with Canada's regulators for the new platform but has already licensed the necessary technology from New York-based Fundamental Interactions.

The exchange has even lined up a guinea pig, inking an MoU with Vancouver-based Kabuni Technologies, which plans to file a prospectus with regulators for approval to issue tokens to investors through a STO.

The CSE says it is confident that Kabuni will be the first of many to sign up to use the new platform, with other drawn by instantly cleared and settled trades.

Richard Carleton, CEO, CSE, says: "Our platform represents an intersection between blockchain and the capital markets that delivers on blockchain’s promise to disrupt conventional transaction and record-keeping mechanisms, thereby providing tangible benefits for market stakeholders.

"By harnessing this technology, the potential exists to extend corporate finance beyond the limits of traditional equity and debt offerings."

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