BNP Paribas partners to launch blockchain crowdfunding tool

The partnership finds BNP Paribas Securities Services, its asset services division, working with investment platform SmartAngels on a pilot the firms said would be launched in the second half of 2016, pending regulatory approval.

In statements, BNP said the effort is a step in advancing crowdfunding. The project will see BNP Paribas developing and managing a registry for shares in private companies using the blockchain that in turn will automatically register securities issued by SmartAngels.

Smart Angels will serve as a secondary market for shares registered on the BNP platform, a move the partners said would make it easier for startups and small businesses to access financing.