Piemonte Holding has launched a bond trading platform using blockchain technology. The new marketplace is said to be the first of its kind in Latin America. The platform is designed to enable Piemonte’s investors to trade R$150 million in debentures all using the Ethereum blockchain.
The marketplace was created in partnership with Horizon, a Fintech that offers a portfolio of services including issuance management and secondary trading services. According to a post on Medium, Horizon says its new product “Upstream,” expected to launch in Q2 2021, will revolutionize the digital securities marketplace providing liquidity in the “$5 billion crowdfunding sector.” The Piemonte marketplace is the first live trading platform that is powered by Horizon’s tech stack.
Piemonte CEO Alessandro Lombardi, says the transition to digital securities is inevitable.
“The efficiency, speed and resilience of the blockchain technology allows our new investment market to transfer funds quickly and without any information gaps. We are eager for the regulator’s opinion on this new technology so that everyone can enjoy it, not only the private investors of our group.”
In the future, Piemonte hopes to open blockchain bonds to the general public via fractional bond ownership after the Securities and Exchange Commission of Brazil (CVM) approves the blockchain technology. The current platform allows qualified subscribers to buy and sell bonds, and offer liquidity prior to bond maturity.
Piemonte’s investors may access a smartphone app available for download on the Apple App Store.