Archax selects ClearBank for banking services

Tuesday 2 April 2019 00:46 CET | News

ClearBank has been selected by Archax, a forthcoming institutional digital securities exchange based in the UK, for its banking-as-a-service offering.

Archax is focused on providing a regulated venue for institutions and professional investors to trade in digital securities. These take assets – such as equity, revenue, debt, property and art – and tokenise them using blockchain technology as Security Token Offerings (STOs).

This tokenisation process is an alternative to the way traditional financial assets are handled and will bring liquidity through the creation of new secondary markets to illiquid and hard to trade assets. It also presents an alternative way of raising capital and has the potential to change the way traditional financial assets classes are handled and traded ultimately too.

Archax will use ClearBank’s banking-as-a-service offering to access a wide range of API-based services, including access to real-time payments services across BACS and CHAPS and 24x7x365 Faster Payments.

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Keywords: Archax, ClearBank, banking, digital securities
Countries: World