The Berner Kantonalbank (BEKB) is developing a technological infrastructure for digital assets together with daura AG. This will give SMEs simpler and more efficient processes and open up new markets for investors and shareholders. The tokenisation of shares and the management of the share register on the blockchain will be handled by the Legal Tech company daura AG.
In the coming months, Berner Kantonalbank (BEKB), together with daura and other ecosystem partners, will develop a technological infrastructure for the transaction and management of tokenised assets. Corresponding letters of intent were signed on September 9, 2020.
daura AG, a joint venture by SIX, Swisscom, Sygnum Bank and the lawyers Luka Müller (MME) and Christian Wenger (Wenger & Vieli), operates a platform for the digitisation of Swiss SME shares. The daura platform will make the processing of capital increases more convenient, simplify ledger management and increase the efficiency of shareholder meetings.
For over fifteen years, BEKB has operated the fully electronic trading platform OTC-X, the market leader in the field of unlisted securities from Swiss SMEs. Last December, the bank expressed its intention to integrate its knowledge and network as OTC-X operator into an ecosystem, thereby opening up corporate and investment clients with an innovative trading platform solution based on a blockchain technology. In autumn 2019, feasibility across the entire process chain was proven by means of digital asset tokens as part of a proof of concept in collaboration with partners BEKB, Sygnum Bank and daura.
Blockchain technology increases efficiency
In future, it will be possible to issue and transfer shares as digital asset rights (asset tokens) on a blockchain. This distributed ledger technology will bring about significant increases in efficiency in the processing of securities transactions and automated ledger management. Through this project, BEKB intends to facilitate the trading of second-tier stocks in this new technological environment. Its focus continues to be on the trade of unlisted securities from Swiss SMEs.
To setting up this new system, Berner Kantonalbank chose daura as its partner to manage share registers on the blockchain and tokenise the shares. In addition, BEKB has signed a letter of intent with Hypothekarbank Lenzburg (HBL) to use the blockchain technology of the Finstar open banking platform developed by Hypothekarbank Lenzburg for the safekeeping of digital assets (see today’s HBL press release).
An important step forward for Switzerland’s digital asset ecosystem
«Together with Berner Kantonalbank, we are delighted to be taking an important step forward in the development of Switzerland’s digital asset token ecosystem», says Peter Schnürer, CEO of daura. «The seamless linking of issue, trading and custody across all stakeholders will make digital asset tokens even more attractive to Swiss SMEs and their shareholders. In addition, this is a global pioneers project in this field and will therefore further enhance the appeal of the Swiss financial markets for future generations. »
«The solution we are offering will map the entire process chain, from the issue and trade to the custody of tokenised assets, on blockchain technology. We are convinced that what we have created constitutes an integrated solution fit for the future», says Armin Brun, CEO of BEKB.
The modules are technically integrated via an open interface architecture. The organised trading system is scheduled for launch in the first half of 2021.
CEO daura AG
Mobile: 079 227 18 89
About daura AG:
The technology company daura digitises the shares of small, medium-sized and established companies from Switzerland using blockchain technology. The daura platform will make the processing of capital increases more convenient, simplify ledger management and increase the efficiency of shareholder meetings. It allows large groups of people to be linked by shares to the company. Shareholders on the platform can access new opportunities to invest in Swiss SMEs and can use daura to digitally manage their company shares themselves. daura is a joint venture by the established and innovative Swiss partners Swisscom, SIX, Sygnum Bank, Luka Müller (MME) and Christian Wenger (Wenger & Vieli).
Find out more: www.daura.ch