ConsenSys Acquires FINRA Registered Broker Dealer for Tokenized Municipal Bonds Offerings

ConsenSys has purchased and will be integrating Heritage Financial Systems, a securities broker-dealer, into its offerings.

The goal with this partnership is for ConsenSys to offer blockchain-based municipal bonds offerings, ideally making them more accessible to all.

“Tokenized, digital municipal bonds can help restore the muni market to its original community-driven spirit by making the securities more accessible to everyday citizen investors and more cost-effective for communities of all sizes,” says Joseph Lubin, the founder of ConsenSys and a co-creator of the popular Ethereum blockchain network.

Municipal bonds are meant to be a safe investment for citizens to put money into their communities. However, the cost of entry is becoming much higher, according to a press release from the group. Lubin’s group hopes that a tokenized investment process will counter this.

Also, it’s worth noting that Heritage Financial Systems is a FINRA registered broker-dealer, which will help the group along with this development quite a bit.

This news comes shortly after it was revealed that Consensys will be dropping nearly 14% of its workforce, according to Reuters. It had cut around 13% of its workforce back near the end of 2018 as well.

Interestingly, ConsenSys focuses on building applications on the Ethereum blockchain, of which Lubin helped build.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.

      Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend.