Tezos Foundation Partners With Globalcap for Capital Markets Automation Initiative

On 10 October 2019, CryptoNinjas reported that Tezos Foundation and Globalcap have partnered up to accelerate the successful integration of capital markets into the digital era.

Tezos Foundation is a Swiss non-profit organization that runs the Tezos blockchain protocol. Tezos’ partnership with London- based Globalcap, a platform for capital markets automation processes, will enable contribution to the revolution of private and public markets in Europe and the rest of the world.

Globalcap employs blockchain technology in primary issuance and security administration and custody. The company facilitates a fast and reliable transfer of ownership in the private markets for private equity and private debt assets.

Tezos Foundation and Globalcap’s Strategic Partnership

Globalcap applies blockchain technology to enable an automated process in legal title transfer requirements. Records and balances reconciliation for service providers such as Registrars and Custodians is carried out continuously without human involvement.

Globalcap said they would combine the capability of Tezos blockchain technology and their platform to create a strong presence of its kind in the market today. Globalcap’s CEO Myles Milston stated: 

“We are deploying our combined resources going forward to take capital markets to the next stage of evolution.”

Globalcap application of blockchain technology has made it the first financial market to eliminate the need for intermediaries in its process. Instead, the platform created a legal asset entirely within the blockchain: Milston added:

 “With the Tezos foundation behind us, our goal of enabling efficient primary issuance regardless of geography or sector, and reducing complex securities administration and custody to a few simple mouse clicks is clearly within reach.”

Investment to Globalcap

The Tezos Foundation contributed to Globalcap series A funding round that has raised a total of $8million in capital.

Tezos Foundation’s mission is to fuel the economic, political, and social innovations on a global scale. The Foundation empowers people and entities from around the world to develop an active and decentralized digital commonwealth. Tezos Foundation issues grants as a resource that the organization deploys to fund individual developers and organizations with initiatives that will perpetuate the success of Tezos’ goals.