Tezos Foundation Enters Partnership With Globalcap For Markets Automation

The Tezos Foundation has entered into a strategic partnership with Globalcap in order to speed up the closure of capital markets into the digital age. Tezos is a Swiss non-profit foundation that pushes for political, economical and social innovation through blockchain technology and we find out more about it in the Tezos news today.

Globalcap which is based in London offers a capital markets automation platform. A member of the Board of the Tezos Foundation Hubertus Thonhauser stated:

Tezos Foundation has entered into a strategic partnership with Globacap to accelerate bringing capital markets into the digital age. Tezos is a Swiss non-profit foundation pushing for social, political and economic innovation through blockchain technology; Globacap, which is London-based, offers a capital markets automation platform.

“Amidst the noise of Brexit, a quiet revolution is underway in Europe that will change the way we view the very concept of public and private markets. Globacap is at the forefront of this important movement toward democratizing access to markets and rendering them more efficient.”

While some of the other financial markets blockchains rely on intermediaries, the Globalcap platform creates the legal assets by itself within its blockchain. This means that the platform enables automated fulfillment of legal requirements that are involved in title transfer. This is also relevant to the institutional service providers such as custodians and registrars because they need their balances. The company asserts that is a platform is at the edge of removing humans from securities issuance, securities administration and custody management.

The blockchain technology that the Tezos Foundation appreciates, has the potential to unlock billions if not trillions of dollars in the private equity and private debt assets. This will achieve this by enabling ownership transfer as fast as in public markets. Globalcap is authorized and regulated by the UK’s Financial Conduct Authority. The CEO of Global Myles Milston stated:

As such, Globacap’s blockchain technology has the potential to unlock billions if not trillions of dollars in illiquid private equity and private debt assets. It would achieve this by enabling ownership transfer as quickly and efficiently as in public markets. Globacap is authorized and regulated by the UK’s Financial Conduct Authority (FCA).

“With the Tezos Foundation behind us, our goal of enabling efficient primary issuance regardless of geography or sector, and reducing complex securities administration and custody to a few simple mouse clicks is clearly within reach. Tezos’s blockchain technology combined with our platform creates a strength unseen in this space to date, and we are deploying our combined resources going forward to take capital markets to the next stage of evolution.”