UBS global bank executive Claude Waelchli to launch Tokenyz digital securities blockchain to rival Securitize, SharesPost and OpenFinance.
Claude Waelchli, a former veteran at UBS, has launched a startup and will build a platform for issuing digital securities on a blockchain.
Waelchli decided to no longer be the head of portfolio advisory for global ultra-high net worth and institutional clients at the Swiss bank in July. Working there for 12 years, he has had the chance to explore the blockchain industry and to learn as much as possible about digital assets. This is what he had to say about the blockchain space:
“I think it’s no secret that the banks do experiment with new technology a little bit. There’s nothing really substantial that banks are doing at this point in time.”
Waelchli’s Venture is Called Tokenyz
Waelchli decided to name its venture Tokenyz. When Tokenyz is going to be launched, it will receive a fee from broker-dealers to which it brings clients plus a structuring transaction fee. In the past 6 months, the team working on Tokenyz developed an infrastructure that tokenizes existing assets on Ethereum and offers a great experience to both institutional and accredited individual investors. At the moment, the same team is working on building the digital securities standards, more exactly for the ERC-1400 token.
Tokenyz Has 17 Employees
There are 17 people working at Tokenyz including Benson Samuel, the founder, and ex-chief technology officer at Coinssecure, and Harsh Patel, the former consultant for Capgemini. This is what Waelchli had to say about their work:
“What we are currently looking into is creating a global alliance of the top experts in the space to provide an open forum for dialogue where you can have conversations and eventually work towards a common standard.”
In an ideal world, tokenization eases the transfer of ownership, allows smaller trades and settlements to happen more rapidly and increases liquidity in the secondary markets. Tokenyz doesn’t disagree with the fact that tokenization is at its beginning and that institutional investors are not yet actually adopting it.