Fineqia Will Be Able To Deploy The World’s First Fully Automated Bond Issuance And Administration Platform Utilising Nivaura’s Technology At Significantly Lower Cost Than Existing Channels
Fineqia International Inc is pleased to announce that it has made a cash investment for an equity stake in Nivaura, which recently demonstrated the world’s first crypto-currency denominated bond issuance that was cleared, settled and registered entirely on a public blockchain.
Fineqia joins New York-based Digital Currency Group (DCG), the world’s top investor in blockchain companies in 2017 according to market research firm CB Insights, in Nivaura’s first institutional financing round. Allen & Overy, the world’s eighth largest law firm by revenue according to American Lawyer, also invested in Nivaura. Both received minority equity interest in Nivaura.
Fineqia will be able to deploy the world’s first fully automated bond issuance and administration platform utilising Nivaura’s technology at significantly lower cost than existing channels. Issuers will be able to structure, execute and administer legally enforceable bond contracts using public blockchain infrastructure. To meet current client requirements, the bonds will be denominated in fiat currency. The cash held in Nivaura’s client money accounts will, however, be tokenised to enable blockchain clearing and settlement.
“We’re delighted to back Nivaura, whose pioneering technology can work with existing capital markets infrastructure to optimise it, minimize costs and drive transparency,” said Fineqia CEO Bundeep Singh Rangar. “Nivaura’s founder Avtar S. Sehra is a leading expert on fintech, cryptocurrency and blockchain in Europe and has worked closely with Fineqia for several years.”
Fineqia will take advantage of its recent shareholding in PremFina to issue secured premium finance debt securities. Premium finance eliminates the financial strain of lump-sum upfront payments for insurance, thereby promoting financial inclusion within the insurance industry.
Nivaura is a U.K. fintech start-up set up in July 2016 that’s building a new way for automated issuance and administration of financial instruments under the oversight of the U.K.’s Financial Conduct Authority. A key element of Nivaura’s technology is its Legal Mark-up Language (LML), which enables the conversion of standard legal contracts into machine-readable formats.
The Nov. 2017 bond issuance that was conducted using Nivaura’s technology took place in Fuse, a tech innovation space based in the London office of Allen & Overy.
Fineqia’s investment sum represents less than 1% of its market capitalisation. Terms of the investment remain confidential.
Fineqia International is a listed entity in the Canada, US and Europe. Fineqia International outlines the Company’s corporate governance, culture, processes and relations by which the Company and its subsidiaries and investments are controlled, directed and governed.
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Thanks for the comprehensive overview. Very helpful!
It’s great to see Fineqia taking a strategic step by investing in Nivaura and tapping into blockchain-based bond issuance. The potential to reduce costs and enhance transparency in capital markets through this partnership is impressive. However, one potential issue could arise with client onboarding and the integration of blockchain technology, especially when dealing with traditional financial institutions that are still catching up with such innovations. We’ve seen similar challenges in the banking industry, where customer support for new technology can sometimes fall short. For example, companies like Manasquan Bank have faced issues as highlighted by customers on the manasquan bank customer service page, which emphasizes the importance of seamless customer service when adopting new financial technologies.
Fineqia will need to ensure that they’re fully prepared to handle these complexities as they scale their platform.
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