POULSBO, Wash.–(BUSINESS WIRE)–Alphaledger has recorded municipal bond origination on blockchain infrastructure in the US, using parallel record keeping. This milestone is the first step towards a full chain life for municipal bonds, without the need for PDFs, faxes and intermediaries required today. While Alphaledger is focused on origination, this first step sets in motion future smart contract capabilities, including on-chain clearing and escrow.
Alphaledger has:
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Registered municipal security origins on the blockchain; as parallel record keeping;
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Registered a municipal loan sale on the secondary market using blockchain technology; and
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Registered municipal loans on blockchain upon origination.
Alphaledger has registered three newly issued municipal bonds on blockchain infrastructure:
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Village of Fredonia, NY
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Village of Frankfort, Herkimer County, NY
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Southold Union Free School District, Suffolk County, NY
Bond market veteran and Alphaledger co-founder Tammie Arnold noted that these New York municipalities should be home to this important public finance milestone: “The municipal bond market was launched in New York state in 19th century in the quest to fund the Erie Canal, and we are honored to be the technology company bringing public finance into the 21st century.St Century. With this technology, investors can connect directly to finance projects from tens of thousands to tens of millions.”
With Alphaledger, permissioned blockchain infrastructure can now support critical US public infrastructure. Alphaledger co-founder Manish Dutta noted: “Schools, water, electricity, roads – these are infrastructure essential to America’s growth that have been difficult for investors to directly access in the traditional financial system. Alphaledger is built to provide greater transparency, traceability and accessibility for cities and municipalities that issue bonds and to support investors who want to access the returns they offer, Dutta said. “This is the moment to make America’s future investable and accessible to all, and this technology makes it possible not in the distant future, but right now, today.”
About Alphaledger:
Alphaledger was formed in 2019 to provide a direct, transparent municipal loan and bond marketplace that streamlines debt financing and increases direct engagement with investors.
Alphaledger was founded by three veterans of the bond market, Manish Dutta, Tammie Arnold and Chris Wade; provides decades of combined experience in the fixed income market, spanning technology, product development and asset management.
Disclosures
The information provided here is not directed at any investor or category of investors and is provided only as general information about our products and services and otherwise to provide general training. It is not intended as an offer or solicitation to buy or sell any financial instrument or as an official confirmation of a transaction. Further, no information contained herein shall be construed as a proposal to engage in or refrain from any investment-related action, as neither Alphaledger nor any of its affiliates undertakes to provide investment advice, act as an advisor or provide advice in a fiduciary capacity with respect to to the materials presented here. If you are an investor, please contact your financial advisor or other fiduciary unrelated to Alphaledger regarding whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances.
Securities transactions will be conducted through IRIS Trading, Inc, “IRIS”, a broker-dealer, registered with the SEC, FINRA, MSRB and SIPC, and wholly owned by Alphaledger Technologies, Inc. “Alphaledger”. Check the background of IRIS on FINRA’s BrokerCheck. IRIS maintains parallel records using Alphaledger’s blockchain technology. IRIS does not currently offer digital asset products.
Alphaledger is a technology company that focuses on delivering technology to subsidiaries and potential customers. It is not suitable for solicitation of securities activities, as it can only be done by prospectus and via a registered broker-dealer such as IRIS.
Transfer agent services in the United States are provided by Alphaledger TA, LLC. Alphaledger TA, LLC is registered with the SEC as a registered transfer agent.
