Katipult Blockchain Secondary Trading Software Piloted By Crowdfunding Platform WeAreStartingbr>
Canadian FinTech firm Katipult has announced the pilot of its blockchain-based secondary trading software aimed at firms looking to launch a private or open exchange.
Katipult offers proprietary, cloud-based software infrastructure that allows client firms to design, set up, and operate their own branded investment platform across multiple distribution channels – including web, mobile, and social media. Businesses deploying the Katipult platform are operating in over 20 regulatory environments to grow investor networks, efficiently manage investors, and streamline deal-flow administration in the areas of equities, debt and real estate.
The company’s blockchain-based secondary market product will enable clients to offer tradable securities, introduce smart contracts, and automate clearing and settlement for transactions at a much faster rate, while ensuring both the security of payments and regulatory requirements. The product’s capabilities include issuer buybacks, bulletin boards and auction-based price discovery. The product will be offered on a white label basis.
“Providing investors liquidity through a secondary marketplace is a valuable capability to firms in private capital markets, and there has been an increased demand for secondary trading capabilities from our software with the rise of ICOs and tokenization of assets,” said Brock Murray, CEO of Katipult “We will pursue a strategy to establish a strong market share in this segment and increase overall revenues with this additional product offering.”
As part of the pilot, Katipult is currently working with WeAreStarting, an Italy-based equity crowdfunding platform, to test its secondary trading software, and further adapt the new technology for international regulations.
“We are enthusiastic about Katipult’s adoption of blockchain into its software to track the ownership of shares in real time,” said Carlo Allevi, Operations manager of WeAreStarting “This addition will open up long term opportunities to extend the usefulness of the Katipult platform. In the secondary market, having the capability to manage voting rights and direct marketing actions to shareholders is a real breakthrough.”
Murray claims that providing investors liquidity through a secondary marketplace is a valuable capability to firms in private capital markets.
“There has been an increased demand for secondary trading capabilities from our software with the rise of initial coin offerings (ICO) and tokenization of assets,” Murray said.