Globacap

Myles Milston, CEO, Globacap

Swiss blockchain-based non-profit foundation, Tezos Foundation has partnered with London-based capital markets automation platform, Globacap in a bid to accelerate capital markets automation in the UK market.

“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,” said Hubertus Thonhauser, member of the Board of the Tezos Foundation.

According to the supplier, Globacap’s blockchain technology aims to facilitate efficient ownership transfer in public markets. It enables legal requirements involved in title transfer to be fulfilled automatically and allows institutional service providers to have their balances and records reconciled continuously in real-time. It aims to automate post-trade processes for reducing liquidity risks in private assets.

“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,” said Globacap CEO Myles Milston. “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.”

The Tezos Foundation recently invested in Globacap’s Series A funding round with total capital raised to $8 million.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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