• Home
  • Contact Us
  • Privacy & Policy
Thursday, May 19, 2022
Finances Advise
No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
No Result
View All Result
Finances Advise
No Result
View All Result
Home Block chain

Swiss Companies Issue First Tokenized Asset for Trading Under New National Blockchain Rules – Blockchain Bitcoin News

by admin
March 15, 2021
in Block chain
0
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


New legal provisions on distributed ledger technology (DLT) went into effect on Feb. 1 in Switzerland. After the implementation, two local companies announced that they had issued the first tokenized asset under the brand-new law.

‘Fine Wine’ Token Is Available for Sygnum Bank’s Clients

Per the announcement, Swiss digital asset bank Sygnum and Fine Wine Capital AG launched collectible premium wine-backed tokens, becoming the first ones under the new blockchain rules.

Assets tokenized through Sygnum’s platform, Desygnate, will be recognized under a new category of ledger-based securities in the law. According to the digital asset bank, the “Fine Wine” token is available in the “Art & Collectibles” category for Sygnum’s clients.

The “Swiss Federal Act on the Adaptation of Federal Law to Developments in Distributed Ledger Technology” allows companies to develop a framework that links financial and real assets ownership to a DLT-based asset token.

Alexandre Challand, Fine Wine Capital’s co-founder, provided more details about how the new rules benefit investors:

Tokenization of wine assets enables us to expand our private collector investor base to new private and institutional investors interested in fractional ownership in distinctive real assets. This provides them the opportunity to hold, trade or request a physical settlement of this unique asset in an efficient manner.

Also, Gino Wirthensohn, Sygnum Bank’s head of regtech, believes that new legal provisions bring a “viable alternative to traditional securitization from a legal point of view.”

Recent Cases of Tokenized Assets

Asset tokenization keeps its growing trend alive across a wide range of markets. Recently, Coreledger announced that they will work with Abakus to set up a “digital barter economy” in Argentina.

The project consists of enabling farmers to tokenize their agricultural assets to seek a hedge against rising inflation. In this case, Argentine farmers could redeem and trade their tokenized titles with any other asset through the Akabus P2P platform.

In Russia, one of the world’s biggest palladium producers, Nornickel, revealed in December 2020 that they had started the first stage of issuing digital coins that involve metal contracts.

The Russian mining giant pointed out that its first-stage tokens will be tied to palladium, cobalt, copper mining, and exploration.

What do you think about this tokenization of Swiss premium investible wines? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons




<

Tags: AssetBitcoinBlockchainCompaniesIssuenationalNewsrulesSwissTokenizedTrading
  • Trending
  • Comments
  • Latest

A 48-year market vet warns that the Fed will be forced to tighten policy ‘way sooner’ than investors anticipate as inflation continues to soar — triggering a stock market crash of up to 80%

August 28, 2021
27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

August 9, 2021

‘It’s begging to be destroyed’: A stock trader who says he made more than $100,000 shorting the market during the 2008 crash just bet against the S&P 500 — and warns there’s a ‘fair chance’ stocks are about to drop 25%

September 11, 2021

Stocks tanked in the first quarter, and new research shows there should be a reversal by the end of June

April 15, 2022

Ryder Ripps, Bored Apes and ‘Owning’ an NFT

0

Uber Hacking: Customers Not at Risk of Financial Crime, Says Minister

0

Black Friday Merchants Look to Extend Moment of Retail Optimism

0

Hotshot Snapchat Founders Face a Dilemma: Lie Low or Live Large?

0

Ryder Ripps, Bored Apes and ‘Owning’ an NFT

May 19, 2022

Panama President Considers Vetoing Crypto Regulation Legislation

May 19, 2022

‘A dereliction of obligation:’ U.S. lawmakers grill FDA commissioner over baby formula scarcity 

May 19, 2022
NEW: Regulator calls for pension benefits in forex

NEW: Regulator calls for pension benefits in forex

May 19, 2022

Recent News

Ryder Ripps, Bored Apes and ‘Owning’ an NFT

May 19, 2022

Panama President Considers Vetoing Crypto Regulation Legislation

May 19, 2022

Categories

  • Bitcoin
  • Block chain
  • Business
  • Commodities
  • Ethereum
  • Financial Advisors
  • Forex
  • Investing
  • Litecoin
  • Market Insider
  • Personal Finance
  • Stocks

Site Navigation

  • Home
  • Contact Us
  • Privacy & Policy

We bring the Best and latest Crypto News

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.