20|30 Passes Equity Issue Test
On Tuesday, April 16, 2019, the Blockchain startup known as 20|30 revealed that it has successfully passed its equity issue test. 20|30 passing this test has allowed for the blockchain technology startup to receive £3 million in equity. This equity is being granted by Turquoise, the trading platform for the London Stock Exchange.
This isn’t a lot of money in stock exchange terms, it is a lot of money for this blockchain startup, and it acts as a massive stepping stone towards the new blockchain firm obtaining tokenised assets. The goal is to turn the tokenised coins they purchase and sit on them until their value grows, allowing for higher assets. Eventually, 20|30 will reach a level where they will be able to trade with the big dogs at the London Stock Exchange.
Converting their newly found equity into tokens will make them more of a liquid asset. As such, the potential for profit jumps dramatically. It’s merely a waiting game for this new blockchain firm now.
20|30 – heading towards private equity
20|30 was first established in 2016. However, as with all potential financial firms wanting to operate in the United Kingdom, the firm first had to undergo tests to determine if they’re viable for the market space. It wasn’t until mid-2018 that this new blockchain supplied was able to receive a license from the Financial Conduct Authority of the UK.
Since launching as a company three years ago, 20|30 has claimed that they’ve run four successful tests on their blockchain technology. After receiving equity for use on Turquoise, the company can finally break its way into the private trading sector in the UK.
The Co-Founder of 20|30 stated, “We want to work our way up the capital stack to reinvent private equity and, public markets.”
Tom Arran
