RATE Group | Ethereum will support Switzerland’s first IPO launched on a blockchain
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Ethereum will support Switzerland’s first IPO launched on a blockchain

29 Jan Ethereum will support Switzerland’s first IPO launched on a blockchain

Posted at 16:30h in Ethereum News by

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Source: Wit Olszewski – Shutterstock

  • Swiss regulator granted permission to the company Overture to launch the first IPO on the Ethereum blockchain.
  • The regulator determined the nature and use of the token to be used in the IPO.

Overture, a Swiss company received approval from the Swiss regulator to launch the first initial public offering (IPO) of common shares on the Ethereum blockchain. According to the press release, this is an important for the cryptocurrency industry:

This might be a huge revolution for the financial industry because blockchain allows to launch an IPO and organize secondary market transactions without the involvement of many traditional players as: banks, financial intermediaries, broker-dealers, central depositary systems, notaries, etc.

In addition, the company has highlighted the advantages of using the Ethereum blockchain and decentralizing the clearing and settlement functions with smart contracts. This will separate Overture’s IPO from other similar…

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