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Security tokens are growing fast in Switzerland

The “vending machine” should make it possible to acquire shares directly from companies without having to register for it. What the Swiss fintech company Alethena, in cooperation with the Zurich-based start-up Ledgy and the legal services provider Lexr, submits as a “stock market”, can be thought of as a mediator between investors and stock companies via blockchain technology. The transactions of the vending machine are processed and documented on the Ethereum Blockchain. The vending machine serves as a frontend for the users. MetaMask then builds the bridge between frontend and blockchain again.

MetaMask makes shopping easier

To be able to buy shares online in the future, users must first create the browser extension MetaMask. Thus, they can make contact with the blockchain of the slot machine via most browsers. Via the Alethena Share Dispenser, MetaMask should be able to buy any stock – with the Stable Coin Krypto-Franken. All this is clear from a press release available to BTC-ECHO. Currently, however, the selection is limited to the in-house token, so you can buy tokenized shares in Equility AG on the official homepage – ie Alethena itself.

The Share Dispenser will initially serve as a proof of concept before it goes in the direction of mass suitability, Hartmann told BTC-ECHO. It continues to represent a minimal version, which should be gradually improved. Furthermore, they decided to go for a stable coin, as classic cryptocurrencies such as Bitcoin, Ethereum, Ripple & Co. are not in the interest of customers due to their volatility. However, one does not exclude the compatibility with ERC20 tokens fundamentally.

Buy security tokens through the web browser

The (now purchasable) share capital of Alethena is already completely tokenized by Blockchain and thus publicly available. Names and addresses, however, should be kept separate. To that end, the press release further states that the personal information “was kept in a traditional shareholder register at partner Ledgy.com for the purpose of data protection, which shareholders must register if they wish to assert their rights.” For short-term buying and selling this is but not necessary.

Now the question arises: Which company buys shares here?

Alethena is “a Swiss FinTech company specializing in blockchain applications and digitalization, offering technological solutions in the field of tokenization of company shares and their tradability”. Furthermore, Alethena sees itself as the first Swiss STO and blockchain asset rating agency and due diligence service provider.

Ultimately, with the Share Dispenser Alethena wants to give customers the opportunity to operate with a blockchain, without necessarily having the necessary know-how, Hartmann finally told BTC-ECHO.

Published inFintech

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