New partnership to tokenize ~$200 million worth of securities on Tezos

Software provider Vertalo struck a partnership with merchant bank DealBox to tokenize 22 different private assets, worth about $200 million, on the Tezos blockchain. Vertalo, a registered transfer agent with the U.S. Security and Exchange Commission (SEC), previously announced it preferred Tezos over Ethereum and Stellar as the firm’s “default blockchain for issuing securities.”

Why it matters:

• Tezos continues to be a popular choice for projects looking to tokenize securities on public networks. Over the last year, several security token issuers have selected Tezos as their preferred blockchain infrastructure, including Elevated Returns and Alliance Investments (by way of a partnership between the Tezos Foundation and Overstock’s tZERO). See the complete chain of events on our timeline here.
• Vertalo and DealBox are trying to take a different approach by tokenizing private assets as compared to public securities. Vertalo CEO and co-founder Dave Hendricks said the “antiquated methods” for managing private assets prevents owners from obtaining liquidity. Hendricks adds that tokenizing these assets “might be able to boost liquidity.”