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Finnish consortium to apply blockchain tech to share trading in non-listed companies

22nd of November 2018

Asiakastieto, Nordea, OP, Privanet and Tieto to digitalize trading of non-listed company shares

This first-of-its kind initiative leverages distributed ledger technology to open up significant opportunities for companies, company personnel, investors, public authorities and financial service providers.

Several leading Finnish companies have collaborated to develop a new blockchain-based platform that digitalizes the share ledger, issuance and trading of non-listed company shares. The platform provides a reliable, simple and entirely digital way for non-listed company share trading by digitalizing the tokenized share register, shareholder register, issuance of new shares and secondary market trading of shares.

New growth opportunities for companies and more transparent information to public authorities

A significant share of Finnish household and enterprise financial assets are in non-listed company shares. However, for the most part, trading on this asset class has not yet been digitalized and relies on manual processes. As a consequence, non-listed company shares lack liquidity and the validity of shareholder information is challenging to verify for investors, financial service providers and public authorities.

The newly-developed platform will change this situation.As private sector companies and public authorities are part of the same process, verifiable information can flow seamlessly between all stakeholders, making non-listed company share trading fully digital, liquid and easy. In addition to reducing administrative burden, this new digital platform improves accessibility and visibility to this asset class for all parties and enables the creation of new financial products and aftermarket services.

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