MT Pelerin Runs Its 1st Shareholders Meeting on the Blockchain
The fintech startup from Geneva has run its first annual shareholders meeting on the blockchain with its shareholders scattered around the world, through its new mobile app Bridge Wallet. A new step toward its ambition to facilitate the access to unlisted securities, with digital solutions ready to answer the corporate management challenges highlighted by confinement policies.
In October 2018, Mt Pelerin Group SA was the first company in the world to incorporate its shares on the blockchain through the MPS, a freely transferable ERC20 token providing direct ownership of shares within the meaning of Swiss law. With that innovation, Mt Pelerin paved the way to asset tokenization with a simple and easily replicable model.
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On Friday June 26th 2020, Mt Pelerin was holding its first shareholders meeting for its 2019 fiscal year. Its more than 630 shareholders scattered around the world were able to participate in the meeting, with their MPS tokens giving them access to the event and guaranteeing the correct number of votes on the blockchain. They were able to follow the presentation of the board of directors given in video streaming, and vote the items of the meeting’s agenda in a fully secure way. The whole event took place on their smartphone through Bridge Wallet, the non-custodial digital wallet app recently released by Mt Pelerin.
The mobile app was specifically designed by Mt Pelerin to provide a simple way for anyone to interact with digital securities issued on Bridge Protocol, its open source platform to issue and manage tokenized assets. Today, Bridge Wallet lets users buy, sell and manage security tokens, as well as acquire cryptocurrencies through bank transfer at a competitive rate.
With Bridge Wallet and the real-life demonstration that was its first shareholders meeting, Mt Pelerin complements its offering of tools to manage securities on the blockchain. With them, any company can create compliant tokenized shares or bonds and distribute them easily at a minimal cost. Issuers can manage the corporate actions of their assets (compliance, transfers, shareholders meetings, dividend payouts, etc.) through the management dashboard provided by Mt Pelerin, and investors can manage their investments through Bridge Wallet.
With these tools, Mt Pelerin brings a comprehensive alternative for the issuance, distribution, and management of digital securities at radically lower costs. If stock exchanges are the market for large corporations, the blockchain might very well become the market for all other companies.
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