BNP Paribas to offer blockchain crowdfunding tools to securities market

Investing | April 7, 2016 By:

BNP Paribas Securities Services announced it has partnered with SmartAngels to pilot the use of blockchain technology for funding startups and SMEs.

The two firms will work together to offer private companies on SmartAngels’ platform the ability to issue securities on the primary market and investors access to the secondary market with blockchain technology. A pilot program will be released in the second half of 2016, pending regulatory approval.

“By applying the blockchain technology to the crowdfunding industry we will accelerate and secure cash flow exchanges securities through e-certificates,” said BNP Paribas head of product for clearing Philippe Ruault.

BNP Paribas Securities Services is the custodian arm of Paris-based bank BNP Paribas. SmartAngels is a France-based crowdfunding platform.