Communiqué Corporate Tax | 13/05/19 | 3 min. |
The global blockchain leader, ConsenSys and the August Debouzy law firm combine their expertise and know-how to offer asset managers, investors, distributors and enterprises a joint Security Token Offering (STO)* service.
STOs are becoming one of the main sources of financing available to financial and corporate players. Thanks to blockchain technology, tokenized assets are digitized to be transferable under conditions previously listed in the code, in accordance with legal requirements.
"Convinced that the current economic environment requires exploring new financing opportunities for our clients while providing them with regulatory expertise and legal certainty, we are pleased to be working closely on STOs with ConsenSys whose knowledge and experience in blockchain and crypto-assets is recognized by all," said Philippe Lorentz, partner at August Debouzy.
This approach, which combines expertise in blockchain and legal regulations, aims to enable financial and corporate players to issue financial instruments (equities, bonds, fund shares, etc.) more easily and to reduce complexity and costs related to intermediaries and distributors. It aims to increase the level of transaction security through automated processing. Finally, it allows all ambitious actors to access a broader investor base and provides real-time reporting.
"Blockchain brings multiple benefits through tokenized assets and we are just beginning to measure the significance. Not only is the issuing process simplified, but all business and legal rules are automated. This ensures greater efficiency, a reduction in the number of disputes, the diversification of the pool of investors, greater liquidity, etc.” commented Anne-Sophie Cartray, Executive Director, ConsenSys.
*A STO or Security Token Offering is an operation by which a financial asset will be issued and administered by the registration of its token on the blockchain.
August Debouzy and ConsenSys will be present at Viva Technology 2019 (Stand L18 – August Debouzy), demonstrating the benefits of STOs and the added value of combining blockchain and legal skills to support these new operations.
ConsenSys was founded by Joseph Lubin (co-founder of Ethereum) in 2014 and has nearly 1,000 employees in 30 countries. ConsenSys is a technology company at the forefront of global blockchain innovation and is a decentralized organization. This hybrid structure contributes to building a virtuous ecosystem around the use of blockchain technologies.
ConsenSys aims to build the blockchain reference architecture through the creation of several technological products around the world and a support structure for businesses and administrations in their transition to decentralization. ConsenSys is a client and partner of many governments and corporations such as Dubai, Zug (Switzerland), the European Union, the central banks of Singapore and South Africa, JP Morgan, Santander, BHP Billiton, GSK and the WWF.
The subsidiary ConsenSys France was created in 2017 and works on about fifteen ambitious projects. www.consensys.net