Digital Securities Exchange Archax Teams With FinTech Firm VALKbr>
Archax, which plans to launch its exchange in mid-2020, is focused on providing a venue for institutions and professional investors to trade in digital securities. The Archax platform selected R3’s Corda Enterprise blockchain platform to handle post-trade activities on a distributed ledger.
VALK digitizes the issuance and investment processes of unlisted company shares. Built on Corda, the firm’s white-label solution automates all of the tasks that are carried out manually today by financial institutions buying or selling unlisted shares. The solution enables managers and investors in unlisted assets to save costs and time, improve customer experience and increase deal and trade volume on unlisted assets they are managing and proposing to investors.
The companies will join forces to enable financial institutions to issue and list digital assets on a UK-based exchange. The goal of the partnership is to bring a liquidity venue and gateway to institutions working with VALK, as well as provide Archax with a number of digital security offerings from the VALK ecosystem of established and regulated financial institutions.
“We are delighted to seal this partnership with Archax and look forward to being one of the first platforms on Corda to integrate with their exchange,” said VALK founders Antoine Loth and Elie Azzi. “Our clients will now have access to a gateway to liquidity and Archax can benefit from the incredible deal flow of our partners who are issuing, financing and trading very high-quality assets in the private equity, fund, infrastructure and real estate worlds. We are glad to be building the business interface between top performing and reputable institutional players and Archax, the most innovative market venue in the UK.”
“We are building the first truly global, institutional market for digital securities based in London,” said Graham Rodford, Archax Co-Founder and CEO. “As such, we are keen to list the most credible token offerings – so partnerships like this one with VALK are highly relevant and important to us. Although we are blockchain agnostic in terms of the tokens that we list, we have partnered with R3 to use Corda for our own ledger and post-trade activities, so this collaboration with VALK, who use Corda too, makes a lot of sense. We are excited by the opportunity that the tokenisation of assets brings, and we look forward to working with VALK going forward.”