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BNP Paribas Securities Services and SmartAngels finalise first phase of their blockchain partnership
BNP Paribas Securities Services and SmartAngels finalise first phase of their blockchain partnership
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BNP Paribas Securities Services and SmartAngels finalise first phase of their blockchain partnership

05/07/2017

BNP Paribas Securities Services and SmartAngels have developed a share register management tool using the blockchain protocol. The platform enables unlisted companies to digitalise their financial securities and to manage their shareholding register using a decentralised, distributed ledger

The platform was developed as part of a strategic partnership formed last year between leading global custodian, BNP Paribas Securities Services, and leading equity crowdfunding fintech, SmartAngels.

As part of the first phase of the strategic partnership , BNP Paribas Securities Services and SmartAngels designed a number of critical functions that will enable private companies to manage the lifecycle of their financial securities, from issuance to the sale and purchase of securities.

During testing, BNP Paribas Securities Services and SmartAngels loaded the share registers of five of their clients on to the platform. This included the register of SigFox, the world’s leading internet of things connectivity service (a client of BNP Paribas Securities Services), as well as four startup clients, which recently raised funds on the SmartAngels platform. This process helped validate the smooth functioning of the platform, using the blockchain technology.

Nelson Fernandes, Blockchain – Senior Business Lead at BNP Paribas Securities Services, said:

“We are delighted to be working with SmartAngels on this project and to welcome Sigfox onto the platform during the test phase. We have identified where the process of issuing, buying and selling unlisted stocks needs to be optimised. Our platform aims to deliver a digital solution that meets the needs of all market participants and professionals in these markets.”

 

“Our partnership with BNP Paribas Securities Services is proving very successful. We will continue to develop value added services for issuers and shareholders, including business angels and private equity firms. Adding shareholder management and portfolio monitoring services to our existing offering will help us reinforce our role as the specialist marketplace for unlisted stocks”

says Benoît Bazzocchi, President and Founder of SmartAngels.

 

The platform can be used to register transactions on the primary and secondary markets and is being designed to meet the needs of a wide client base, including issuers, shareholders, investors (business angels, venture and growth capital investors) and crowdfunding platforms, as well as lawyers, notaries, accountants, and banks.

After this initial phase, BNP Paribas Securities Services is now working on industrialising the platform before commercialising it. SmartAngels will also commercialise a range of share register digitalisation and portfolio monitoring services.

 

-Ends-

 

Press Contacts BNP Paribas Securities Services

 

Caroline Lumley  caroline.lumley@uk.bnpparibas.com  +44 (0)20 7410 4650

 

twitter_logo.jpg Follow Securities Services on Twitter - @BNPP2S

 

Press Contacts Smart Angels

 

Aelya Noiret  a.noiret@etycom.fr  +33 (0)06 52 03 13 47

 

About BNP Paribas Securities Services (www.securities.bnpparibas.com)

BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With local expertise in 36 countries and a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.

 

About Smart Angels (www.smartangels.fr)

SmartAngels.fr is the leading crowdfunding platform in France for direct investment in the capital of start-ups and growth SMEs by individual and professional investors. As a pioneer of direct investment in non-listed companies, SmartAngels counts 35,000 registered members having invested €35 million in 60 companies since 2012. Benoît Bazzocchi, chairman and founder of SmartAngels, is also chairman of AFIP (the French crowdfunding association) and a member of the board of directors of the association France FinTech. SmartAngels has been approved as a Crowdfunding Investor Adviser (CIP) by the French Financial Markets Authority (AMF) since February 2015.

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