James Godfrey, Managing Director of Capital Markets at BlockEx said "Our new service is designed to revolutionise the Bond market by using the blockchain to provide a rapid and fully transparent bond issuing and lifecycle management solution. Using efficient processes and high ease-of-use, it even works for the £5m - £50m SME bond sector."
"Our technology bridges existing and blockchain based capital markets, so regulation is important to us. We are delighted to have been selected for the FCA Sandbox and look forward to moving through to full market authorisation. Under the FCA oversight process BlockEx would seek to issue a number of bonds with a nominal value of up to £250m."
Initially BlockEx is targeting SME bond issuers, lead managers, arrangers and investors, including members of relevant associations such as PIMFA and ICMA. More information can be found at http://www.BlockEx.com/bonds.
About the FCA Sandbox process
The FCA's regulatory sandbox allows businesses to test innovative products, services, business models and delivery mechanisms in the real market, with real customers. Find out more at http://www.fca.org.uk/firms/regulatory-sandbox.
BlockEx is a digital asset exchange and technology provider for institutional-grade financial market participants, to allow them to deliver a step change in opportunity, efficiency and transparency in their own businesses. The company, a London-based fintech success, delivers and operates http://www.BlockExMarkets.com its own institutional grade trading exchange and brokerage, which incorporates blockchain asset origination, dematerialisation and lifecycle management tools. Find out more at http://www.BlockEx.com.