We are pleased to announce we’ve achieved a major milestone (while adhering to our previously announced timeline of 2Q18) to introduce a blockchain-based secondary market product, which includes capabilities such as issuer buybacks, bulletin boards and auction-based price discovery. Katipult customers will be able to offer tradable securities, introduce smart contracts, and automate clearing and settlement for transactions at a much faster rate, while ensuring both the security of payments and regulatory requirements.
We will be offering our secondary trading software on a white label basis to firms looking to launch a private or open exchange, and we’re working with a leading Italy based crowdfunding platform, WeAreStarting Srl, to be part of the pilot. Together we are striving for a best in class solution that can be adapted to different international regulations.
“We are enthusiastic about Katipult’s adoption of blockchain into its software to track the ownership of shares in real time,” said Carlo Allevi, Operations manager of WeAreStarting “This addition will open up long term opportunities to extend the usefulness of the Katipult platform. In the secondary market, having the capability to manage voting rights and direct marketing actions to shareholders is a real breakthrough.”
(Left to Right: Pheak Meas CPO Katipult, Brock Murray CEO Katipult, Carlo Allevi Operations Manager WeAreStarting Srl, Davide Benaroio Business Analyst WeAreStarting Srl)
“Providing investors liquidity through a secondary marketplace is a valuable capability to firms in private capital markets, and there has been an increased demand for secondary trading capabilities from our software with the rise of ICOs and tokenization of assets,” said Brock Murray, CEO of Katipult.
You can also review Doug’s blog post about the positive effects of blockchain on secondary markets. Some key takeaways are that blockchain improves trust and transparency, increases control, and expands revenue opportunities for the firms on the secondary marketplace.
If you want to learn more about how blockchain builds trust through a term called “computational trust”, read Doug’s blog on blockchain and computational trust.
About WeAreStarting
WeAreStarting (https://www.wearestarting.it) is an equity-based crowdfunding platform, which aims at connecting entrepreneurs with brilliant ideas and investors, enabling Italian innovative start-ups and SMEs to grow thanks to large and small investments. In exchange, investors become shareholders and get involved in the future of the companies in which they invest.
