20|30 has become the first UK company to successfully complete the tokenisation and issuance of their equity as part of the UK Financial Conduct Authority’s (FCA) Sandbox 4.
The test issuance was executed by TokenFactory, a capital raising platform and the first of our portfolio’s products to go to market.This test happened in partnership with fintech company Nivaura, who acted as custodian for the offering.
Nivaura recently raised £20 million in a seed funding round led by London Stock Exchange Group. Other investors in Nivaura include leading law firms Allen & Overy, Linklaters and Orrick. London Stock Exchange Group participated in the test issuance by sending settlement instructions to a public blockchain via 2030’s platform which is powered by Nivaura technology. The test therefore demonstrated connectivity between a regulated trading venue, the Turquoise Plato™ platform, and a public blockchain infrastructure.
Founder & CEO of 20|30, Tomer Sofinzon, spoke about the innovative impact of this new financial instrument:
“We have succeeded in what we hope is the first step in reinventing capital markets. By tokenising our own equity at 20|30 through TokenFactory, we can demonstrate that there is a far better way to unlock the value of equity, built on innovative blockchain technology which will transform the way companies raise capital.
“Tokenisation will unlock value in a whole range of assets, from existing shares to new issuance, bonds, property, IP, fine art and much more.”
As a regulated, full-service fundraising machine, TokenFactory empowers investors with greater access to investment opportunities and to liquidity, while companies can raise capital cheaper than traditional methods and in a time-efficient manner. TokenFactory will tokenise equity in a way that is compliant withUK laws and regulations. This is one of the few models of tokenisation that can be scaled with ease.The test issuance was executed within the FCA’s Sandbox Cohort 4. Upon the closing of this issuance and initial funding round, TokenFactory will aim to remove its Sandbox restrictions to be a fully authorisedMiFID investment firm able to arrange the issuance of equity tokens by global firms launching issuances in the UK.
Professional investors wishing to learn more about 20|30’s fundraise can do so by registering their interest here. This defining moment for our company was featured in renown national news outlet, The Telegraph. The full article can be read here.
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