Blackmoon Financial Group launched its investment platform this week, bringing blockchain-based funds into the traditional asset management world. The startup, founded in 2014, built a system that all
Blackmoon Financial Group launched its investment platform this week, bringing blockchain-based funds into the traditional asset management world. The startup, founded in 2014, built a system that allows asset managers to create and operate tokenized funds in compliance with regulations.
Investors register with the platform and pass know-your-customer verification. Once approved, they can access and purchase asset tokens. Each token gives investors access to a fund's performance while keeping transactions on the blockchain, whether the underlying strategy involves stocks, crypto, or both.
The platform's debut offering tracks the S&P 500. Established in 1957, the index comprises 500 large US corporations listed on the New York Stock Exchange and NASDAQ. Token holders gain exposure to major US equities.
Sergey Vasin, Blackmoon's chief operating officer, said the company will list two more tokens tracking US hedge funds in the coming months. An emerging market ETF token will follow.
Seven months of development preceded this launch, beginning after Blackmoon raised $30 million in a token sale last September that lasted twenty hours. Oleg Seydak, founder and CEO, said the company secured partnerships with banks and brokerage firms during that period.
"The platform has been under ongoing development these past 7 months," Seydak said. "During this time, we have dedicated our effort and signed several strong partners, including banks and brokerage firms, to ensure that our service provides the necessary tools for asset managers that are willing to take the industry to the next level."
Seydak said the blockchain industry had transformed since the September token sale.
"Since our initial token sale, the blockchain industry has developed at high speed, and we have made sure that the underlying benefits of our value proposition have been up to par, especially our continuous goal to ensure we provide a fully compliant solution for the asset management industry," he said.
