June 25, 2024

ConsenSys redeems Heritage Financial Systems to issue tokenized bonds

ConsenSys Digital Securities, the brokerage arm of ConsenSys, announced the acquisition of the U.S.Heritage Financial Systems brokerage firm for the issuance of tokenized bonds.

Heritage Financial Systems is registeredat the US Securities and Exchange Commission (SEC). According to the management of ConsenSys, such an acquisition will not only strengthen the company's position in the field of finance, but also “give an occasion” to use the blockchain to issue tokenized debt obligations.

According to the ConsenSys Digital coordinatorSecurities Emma Channing, the company plans to introduce automatic payment of bonds through smart contracts and enable the issuer of a debt obligation to track who owns the debt.

In addition, through its Codefi platform, ConsenSys intends to develop tokenized municipal “mini-bonds” so that their issuers can sell securities in small volumes.

Let us recall that in May last year four bankssuccessfully issued a debt obligation on the Finledger platform. In April 2018, the banking holding JPMorgan Chase, together with several large commercial banks, also tested a blockchain-based platform for issuing debt securities.