Oil tycoon Frank Timis has been revealed as the biggest shareholder in Argo Blockchain, a crypto mining firm that listed on the London Stock Exchange (LSE) last summer.
According to a Daily Mail report on Saturday, Timis’ involvement with the firm was revealed after he moved behind the scenes to oust two board members at the firm in order to force a change in direction for the struggling firm.
Blockchain startup 20|30 has raised £3 million ($3.93 million) in a sale of tokenized shares on a platform operated by the London Stock Exchange Group (LSEG).
While a trial effort looking at using tokenized equity to modernize the financial markets, the share offering involved real cash and was issued on the LSEG’s Turquoise equity trading platform.
20|30 sets out to tokenize equity and other securities using distributed ledger technology. The firm was notably part of the fourth cohort of the UK Financial Conduct Authority’s (FCA) regulatory sandbox, announced last July.
Fiat currencies are hampering blockchain innovation – at least according to David Harris, head of commercial innovation at the London Stock Exchange Group (LSEG).
In a keynote address at the third annual London Blockchain Summit today, Harris told a crowd of about 150 global bankers, insurers and technology providers that he looks forward to a day when central banks will issue their own cryptocurrency.
While not a new aspiratoin, the reason Harris gives for wanting to move to a cryptocurrency equivalent notably stems from LSEG's role on the Borsa Italiana project, which looks to issue some types of securities on a blockchain.