UK based blockchain startup raises $3.9 million via a platform owned by the London Stock Exchange (LSE), fintech news Finextra reported on April 15. 

The Startup well-known as Twenty Thirty or 20|30 has reportedly secured 3 million British Pounds (GBP) by selling tokenized shares on LSE-owned equity trading platform Turquoise.

20|30 main purpose is to tokenize equity and other securities with the help of blockchain technology. In July 2018, it was one of the 29 firms which were accepted by the Financial Conduct Authority (FCA) to start testing within its four cohort of the regulatory sandbox. Later on, with the FCA's approval, 20|30 became authorized to issue equity tokens on the Ethereum (ETH) blockchain, with the firm announcing that the LSE's Turquoise will initially pilot the sales of the tokenized shares.

As per earlier reports, LSEG and FCA earlier said that they are working closely with 20|30 and distributed ledger technology startup Nirvana toward exhibiting for the first time that equity in the U.K company can be tokenized and issued using entirely flexible custody, clearing, and settlement system. With the recent announcement, the first step towards the plan has been successfully completed.

The project has been started to explore “tools to help companies raise capital in a more efficient and streamlined way,” said the LSEG.

As soon as the primary insurance of an equity token based on ethereum has been completed, “the next step will be to offer secondary transfers. Then we can work our way up the ‘capital stack’ to reinvent private equity and, public markets,” Tomer Sofinzon, co-founder of 20|30, said the Financial Times.

Earlier in July 2018, Dr. Avtar Sehra, who is the CEO and product architect at Nivaura said, “Someone can use our technology to do all the legal documentation, tokenize these assets and execute them. LSEG has then been forward-thinking enough to help get these orders out to the existing market.”