London-based cryptocurrency trading company Copper plan According to a report on November 29, the company will start offering tokenized securities early next year. Led by former UK Prime Minister Phillip Hammond, the company is expected to capitalize on demand from institutional investors.
The service is expected to be launched for the first time by Copper Securities, its new arm in Abu Dhabi, United Arab Emirates. The company is reportedly in the process of obtaining regulatory approval from local authorities.
Copper plans to use blockchain technology to provide securities financing and other payment solutions to institutional clients in the coming months. The company said it will enter more than 90 markets around the world through the new platform.
Copper acquired its securities arm earlier this year with the goal of offering tokenized securities within the Abu Dhabi Global Market, an international financial center and free zone on Al Maryah Island.
Hammond has longstanding ties to the area.he has been Give suggestion The government of neighboring Saudi Arabia will begin implementing the plan from 2021, subject to approval by Britain’s lobbying regulator. That same year, Hammond was appointed senior advisor to Copper and took over as chairman of the company in early 2023. At the time, Hammond shared his thoughts on how blockchain technology could benefit the financial industry:
“I remain firmly convinced that the post-Brexit UK financial services industry needs to embrace decentralized ledger technology as a key part of its strategy to remain a major global financial centre.”
Security tokenization involves converting financial assets such as stocks or real estate into digital tokens on the blockchain. Tokenization facilitates access to expensive assets and democratizes ownership of financial assets by allowing fractional ownership to increase market liquidity.
Asset tokenization has been a hot topic in 2023, and its popularity is likely to continue to grow in the future. In the UK, investment managers are being encouraged to use blockchain technology to tag investment funds, moving away from traditional record-keeping systems. A recent report released by the Investment Association believes that the tokenization of investment funds can lead to a more efficient and transparent financial industry.
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