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Arcane Crypto plans to go public through a reverse takeover of listed company Vertical Ventures. To fund this, the Swedish company plans to launch billions of new shares.submitted by jakkkmotivator to thecryptobasic [link] [comments]
IPO planned through a takeoverThe Norwegian crypto investment company Arcane Crypto plans its IPO through a so-called "reverse takeover" of the Swedish company Vertical Ventures, as the company announced in a press release.
Vertical Ventures wants to take over Arcane for a company value of almost 300 million Swedish kronor, which corresponds to about 28.5 million euros. Vertical Ventures is already trading on the alternative NASDAQ First North, where Arcane is also planning to go public.
Despite the takeover by Vertical Ventures, Arcane is to become a majority owner with a 92.5 percent stake and will also officially act under his name.
The big difference in the company's shares is due to the inconsistent values of both companies.
Vertical Ventures recorded an asset of around 2.18 million crowns in its 2019 balance sheet, which corresponds to around 200,000 euros.
Share issue as a source of financeThe reverse acquisition allows Arcane to bypass the complex process of an IPO. Vertical Ventures intends to fund more than 6.6 billion new shares, each of which can be purchased for less than half a cent.
In November 2019, Arcane appointed Eric Wall, who previously headed the cryptocurrencies and blockchain division at Swedish financial services provider Cinnober, now part of NASDAQ, as the new CIO.
Arcanes CEO Torbjorn Bull Jenssen explained the takeover by saying that if the company goes public successfully, the company will be able to address a broader investor base and expand its growth and range.
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Final approval is still pendingBefore the takeover is dry, the shareholders must first confirm it, as reported by CoinDesk. NASDAQ North must also approve the new corporate structure before the company can be listed again.
The acquisition is expected to be completed in the second half of 2020, Arcane said. Arcane develops and invests in projects that mediate between cryptocurrencies and digital assets.
The company is currently headquartered in Stockholm, London, and Oslo and deals with payment technology for cryptocurrencies, liquidity provision for crypto electronic and digital assets, and private and institutional crypto-fiat exchange. The company also operates a research department, the news portal cryptographers, and a hedge fund.
https://preview.redd.it/gl5x4j3hg1351.jpg?width=2400&format=pjpg&auto=webp&s=9eca4a55c76edf1e394b6fe1270daa1032417221submitted by Blockchain_org to BlockchainStartups [link] [comments]
Will blockchain technology be the most significant disruption of the last three centuries in the stock market industry? Well, Norbert Biedrzycki -Head of Services CEE at Microsoft says so, and so does blockchain council. Blockchain technology has been able to significantly change the dynamics of money, supply chain management, finance, record keeping, and more. Along with supporting crypto-currencies such as bitcoin and ethereum, it can revolutionize both the storage and transmission of financial data around the globe and stock trading marketplaces.
While Tokyo Stock Exchange and Nasdaq have unveiled the use of blockchain in its core trading infrastructure, India's Securities Exchange Board, among others, is researching its feasibility in fundraising, post-trade settlement, and asset management.
Learning of the blog
Blockchain is a database innovation that provides a shared public register where all parties can track and encrypt transactions. This register consists of nodes, and each node is a computer that follows the protocol. Blocks are public, but its contents can be protected by cryptography. A new block is added every time a token transaction is confirmed. There are private blockchains in which access is by permission only, and in-house nodes verify the transactions. On the other hand, public blockchains, as you must have guessed, are open access. Another type is permissioned public blockchains that retain the volunteer verification but has restricted access.
If you want to know more about blockchain, you can check out this blockchain course!
How Is It Useful To The Stock Market?
The stock market is a mammoth creature with very high inertia. Blockchain technology can prove fruitful in clearing and settlement alongside securing automation of the post-trade process. It can speed by the settlement of trades and subtly go about stock exchanges with the help of automation and decentralization.
According to a Blockchain in Capital market's report, "IT and operations expenditure in capital markets is currently close to $100-150 billion per year among banks". Blockchain can reduce extra commission costs by eliminating the third party regulator as the blockchain network does the needful. Thus, it can answer trust, interoperability, and transparency issues.
Advantages that it brings
The advantages that blockchain technology brings along are:
The New- York-based firm Nasdaq which operates at the junction of finance and technology, was one of the first to adopt bitcoin technology, thus advocating the demand of blockchain professionals. It now enables investors to harness blockchain's power by securely navigating financial markets at an international level. To register all transactions in real-time, Nasdaq Stockholm and the Swedish bank SEB started testing blockchain.
The London Stock Exchange Group, in collaboration with IBM, is testing a blockchain platform to fully digitize trades in the shares of medium and small-sized enterprises. Apart from this, the NYSE and Deutsche Borse would be evaluating the feasibility and advantages of the technology soon.
Due to less testing, there are some scalability issues with blockchain, so to disrupt the operations of the stock market, it can take up to ten years, but it does have the potential to transform companies and the society. It is a great investment opportunity because of its ability to tackle data fragmentation, insider trading, data loss, reconciliation, and ticket matching problems.
Thus. Blockchain technology can bring about the widespread upset in automated market surveillance and post-trade event processing.
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In partnership with Coinbase, Fidelity implemented on its website the option to display holdings in Bitcoin, Litecoin and Ethereum. - CNBC Aug 9thNow let's not get ahead of ourselves.. Nobody can say for certain that 'Litecoin' will make investors wealthy... However we can take the best calculated risks to ensure we are reliably correct. Looking at the overall picture, without a doubt I feel Litecoin is clearly around for the long-term. And when I say long-term I don't mean a few years, I mean there's a good chance Litecoin will be around for decades. How many asset's out there can you say with confidence will be around for decades? There aren't many...
Goldman Sachs is reportedly investigating into the plan of launching a cryptocurrency trading platform to provide sufficient liquidity towards institutional and retail traders. “In response to client interest in digital currencies, we are exploring how best to serve them in the space,” - Goldman Sachs Oct 1st, 2017
“Some of you might be wondering: Why am I here today? I’m here because I love this stuff... all that the future might hold.” - Abigail Johnson, CEO FidelitySo the biggest question I suppose would be, 'What makes Litecoin so special compared to the other cryptocurrencies?' Well to answer that question let's list some highlights.
One of Fidelity’s projects is mining bitcoin and ethereum, which Johnson said was started for educational purposes, but now turns a tidy profit. “We set up a small bitcoin and ethereum mining operation…that miraculously now is actually making a lot of money,”. - Abigail Johnson, CEO Fidelity
Along with JPMorgan, more than a dozen banks, including Morgan Stanley, Goldman Sachs Group Inc and Credit Suisse Group AG, have acted as brokers for buying and selling Bitcoin XBT on Nasdaq’s Stockholm-based exchange, according to Swedish online bank Nordnet AB. - Bitcoin XBT
Two weeks ago XBT Provider AB announced the authorization of Bitcoin Tracker One, the first Bitcoin-based security available on a regulated exchange. Today, Bitcoin Tracker One started trading on Nasdaq Stockholm. “NASDAQ OMX Stockholm decides to officially list 1 Exchange Traded Note issued by XBT Provider AB with effect from 2015-05-18,” announced XBT Provider AB on Friday. listed on Nasdaq in Stockholm. ‣ Bitcoin Tracker One is traded in the same manner as any share or instrument listed on Nasdaq exchange in Stockholm. It is accessible via any global securities electronic trading platform with access to Nasdaq Stockholm. ‣ To invest, you need an account, which is obtained through your bank, advisor or online The changes in the Industry Classification Benchmark (ICB) standard implemented on July 13, 2020 will be visible on the Nasdaq Nordic web site starting on July 21. The ICB is a globally recognized standard operated and managed by FTSE Russell for labelling companies and securities across four levels of categorization – and is used across the American investors can now invest in bitcoin Exchange Traded Funds (ETF) through an Exchange-Traded Note ( ETN) called Bitcoin Tracker One on the Nasdaq Stockholm Exchange in Sweden, per a Bitcoin Tracker One ETN, is now quoted in U.S. dollars under the ticker CXBTF, helping brokerages offer it to all American investors without the hustle of going to NASDAQ Stockholm and buying in Euros or Swedish Krona.. If you can’t wait for the Bitcoin ETF to be approved and want to take opportunity of the current low BTC price there is an option that just became available thanks to an
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