Backers Network Inc. has announced that subject to regulatory approval, it is acquiring, 108 Securities Inc.
TORONTO, ONTARIO, CANADA, June 18, 2021 /EINPresswire.com/ — Toronto-based, Backers Network Inc. has announced that subject to regulatory approval, it is acquiring, 108 Securities Inc., an Ontario Securities Commission Registered Exempt Market Dealer (EMD). “This is a significant move in the development of Backers as Canada’s 1st Digital Asset Investment Bank” says Justin Fox CEO & Co-Founder of Backers Network Inc.
The move corresponds with the upcoming launch of the Backers 2.0 platform and in addition to being a FINTRAC Registered Money Service Business (MSB) solidifies Backers’ ability to facilitate and execute regulated digital securities transactions.
Backers and 108 Securities have been working closely over the past 2 years to develop an end-to-end digital asset investment platform. The Backers platform addresses the recent global regulatory shifts allowing for both accredited high net worth and everyday retail investors to invest in all asset classes, including previously restricted private equity investment opportunities, combined with the evolution of Blockchain and Cryptography allowing for faster, more secure, and reliable transactions with the ability to facilitate ongoing trading and liquidity for investors. “The Backers platform addresses all of the major pain points for investors, issuers, and regulators alike,” says Michael Crowley President 108 Securities Inc.
Crypto Stocks, in a broader sense also know as Security Tokens, are essentially digital, tokenized contracts for fractions of any asset that has an underlying value, like real estate, collectibles, or corporate stock. A security token represents the ownership information of the investment product, recorded on the Blockchain. When you invest in traditional stocks, for example, ownership information is written on a document and issued as a digital certificate (e.g. a PDF) with the share registry typically held by a lawyer. For Security Tokens, it’s the same process, but recorded on a Blockchain and issued as a token and held in a digital wallet held by the investor with the share ledger on the Blockchain.
The Backers digital asset investment platform with its proprietary Initial Backers Offering (IBO) and Securities Tokenizer will significantly improve access to capital for start-ups, entrepreneurs, and early-stage high growth private companies, while also opening the door to new investment opportunities for everyday retail investors to participate in these early-stage private equity deals, all on a secure, traceable, immutable, distributed ledger enhancing the safety for investors and visibility for regulators.
About Backers Network Inc.
Backers Network Inc., ‘Backers’ founded in 2018, is Canada’s 1st Digital Asset Investment Bank. Currently developing a comprehensive end-to-end proprietary platform solution that enables private companies to raise capital and validate their market by selling shares to all investors using tokenized digital cryptographic shares on a Blockchain ledger that can be bought, sold, and/or traded on a secondary exchange with other crypto stocks, currencies, collectibles, and digital assets.
About 108 Securities Inc.
Founded in 2011, 108 Securities Inc., ‘108’ is a registered Exempt Market Dealer with the Ontario Securities Commission, and operates as an independent investment bank based in London, Canada. The firm focuses on providing strategic and financial advice on mergers, acquisitions, sales, divestitures, and private capital services. 108’s clients include middle-market and emerging growth companies, private equity sponsors, and family-owned and entrepreneur-led businesses. 108 currently licenses the Backers Network Inc. platform to fulfill all relevant functional components for securities offerings.
Source: EIN Presswire