LONDON, UK — July 5, 2023 — Montis Group, a leading innovator in the digital securities industry, is excited to announce the successful tokenisation of UK equities. Utilising the new Montis Tokeniser Platform, Montis has minted tokens onto the Hedera blockchain, marking a significant milestone in the digital transformation of real-world assets. The process for minting and exchange of the Montis Tokens in respect of the Montis Shares was carried out as a test case using a regulatory compliance tech program within the FCA Sandbox (Cohort 6).
The tokenisation process, executed in collaboration with Archax Custody and DLA Piper, converted the equities already held at Archax Nominees under a Token Issuance Agreement. The minted tokens adhere to the HTS Fungible (ERC-20) standard and are securely custodied in an Archax Nominees wallet on Hedera.
These tokens signify the beneficial interest of the equities and illustrate Montis' capability to create tangible and intangible real-world asset tokens that can be transferred cross-chain.
Martin Watkins, CEO at Montis, commended the achievement saying,
"The UK Law Commission final report on Digital Assets and Luxembourg Whitepaper – A compliance framework for tokenisation published last week validate the potential and necessity of our endeavours. The successful minting of these tokens is just the beginning of our digital journey."
The Montis platform provides a secure, institutional-grade environment for clients to create, manage, mint, transfer, and burn tokens on leading blockchain networks and hashgraphs. Current supported standards include ASA, ERC-20, ERC721, HTS Fungible and HTS Non-Fungible on Avalanche, Ethereum, Hedera, Moonbeam (Polkadot), and Polygon.
Martin Bartlam, Partner at DLA Piper responsible for its FCA Sandbox (Cohort 6) Project, added,
"We are delighted that Montis has completed the minting of MTX tokens enabling shareholders to complete the exchange of their existing shareholdings for digital securities tokens held on multiple blockchain platforms. This completes the FCA Sandbox project DLA Piper commenced in 2020 to test the ability of regulatory compliance tech to adapt for digital securities issuances."
This development underscores Montis Group’s commitment to pushing the boundaries of digital transformation, providing robust and innovative solutions in the dynamic world of digital securities tokens.