For the first time in the history of securities, it is now possible to obtain shares of a corporation directly via its website, without any cumbersome registration process or other preconditions. Thanks to blockchain technology, a share can be bought simply by sending Cryptofrancs to a smart contract that in turn dispenses shares directly into the shareholder’s crypto wallet, without financial intermediaries.
“Out of the more than 600’000 companies in Switzerland, only a few hundred are publicly traded. Our vision is to change this. The Share Dispenser is an important step into this direction” Markus Hartmann, CEO of
Already last year,
“Worldwide electronic transferability is not of much use if no one ends up making use of it. We do so with our Share Dispenser, allowing visitors of our website to swap cryptocurrency for shares”
A certain level of technical know-how is still required, though. In particular, the browser-wallet MetaMask must be installed as most web-browsers cannot interact with a blockchain yet. Furthermore, a potential buyer also requires CryptoFrancs (XCHF), a cryptocurrency pegged to the Swiss Franc and issued by Swiss Crypto Token AG. The entire purchase process is documented comprehensively in an accompanying video.
In the aftermath of the hype surrounding initial coin offerings (ICOs) and the ensuing sell-off in cryptocurrency markets, current developments are pointing towards a more stable environment.
“For successful startups, the tokenization of their shares could become an interesting alternative to exits or IPOs”, remarks Luzius Meisser, who has supported the project from the beginning.
More information with respect to the Share Dispenser can be found at www.sharedispenser.ch
Alethena (alethena.com) is a Swiss fintech company specialising on blockchain-applications and digitalisation that offers technological solutions in the area of tokenisation of company shares and their tradability.
Ledgy (ledgy.com) is a Zurich based startup offering a digital share registry with more than 100 active clients. With respect to tokenised shares, Ledgy can automatically adjust blockchain transactions in the registry, given the receiver has completed his registration.
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