Blockchain startup 20|30 has raised £3 million by selling tokenized shares and settling them in a test environment on the LSE’s Turquoise platform.
London-based 20|30 argues that liquid markets will replace many of today’s financial intermediaries and wants to change capital markets by tokenizing shares.
Last year it was accepted to the fourth cohort of the FCA's regulatory sandbox, paving the way for cooperation with the LSE to investigate tokenization and issuance of equity within a compliant custody, clearing and settlement system.
Now, a trial has been carried out, using real cash. Next up, 20|30 plans to offer secondary transfers, and "work our way up the ‘capital stack’ to reinvent private equity and, public markets,” co-founder Tomer Sofinzon has told the FT.