Under the memorandum, BANKEX will facilitate the introduction of blockchain technology to all government agencies in Uzbekistan with the intentions of minimising the potential for human error and precluding corruption.

“The present memorandum is directed at establishing a legal framework on which the parties can base the mutual cooperation necessary to ensure the quality as well as the qualified undertaking of tasks assigned to the parties,” says the memorandum.

The parties also agreed “to study the prospects for the introduction of innovative technologies, including blockchain technology” as well as to “exchange all necessary information and work experience, including through mutual internships and consultations,” according to the press statement.

The two parties are also planning to hold joint educational events, such as workshops, seminars, roundtable discussions and conferences on the principles of digital economy development, as well as the advantages of utilising the blockchain.

BANKEX is a New York-based and closely-held global fintech company providing a blockchain-based securitisation framework. BANKEX group companies legally operate within Class 3 and Class 4 licenses for Virtual Financial Assets on Malta, and therefore in the European Union.

The post BANKEX eyes introducing blockchain solutions in Uzbekistan first appeared on The Malta Business Weekly.

BANKEX operates a so-called Proof-of-Asset Protocol aiming to bring Banking-as-a-Service (BaaS) and blockchain together and facilitate the digitisation, tokenisation and exchange of traditional assets, ushering in a new era for finance and banking tagged as Securitization 2.0. Davidson & Co offers a range of auditing, tax, valuation and private entity services, helping a variety of public and private clients across many industries.

“As Davidson & Co starts its review engagement, we become the forerunners of things to come — blockchain and crypto assets gaining a brick-and-mortar market dimension,” says Igor Khmel, founder and CEO of BANKEX. “Specifically, this review is one of several activities that were unilaterally undertaken by BANKEX designed to help our latest investors put a non-crypto value in our assets. We would like for our investors to envision the outcome of adding tokenised assets to valuations of companies that will use BANKEX Security Token Offering (STO) framework to raise money via STOs or list their tokenised assets on traditional exchanges, subject to appropriate regulatory approval,” he adds.

BANKEX’s core business is in helping tokenise and securitise previously illiquid assets to prepare them for entering traditional stock exchanges for trade. BANKEX hopes the review will help in estimating how much global financial markets could add in volume if tokenised assets are included in companies’ valuations, the press statement notes.

“As an early adopter of decentralised technology that offers real-time transaction visibility, BANKEX feels that its responsibility as a category creator is to offer similar transparency to its stakeholders,” says Mr Khmel. “We also hope that our efforts to increase BANKEX’s transparency will lay the groundwork for BANKEX’s emerging vendor cloud for facilitating our clients’ STOs, as we start ramping up this service for our clients,” he adds.

BANKEX is a New York-based and closely-held global FinTech company providing blockchain-based securitisation framework. BANKEX group companies legally operate within Class 3 and Class 4 licenses for Virtual Financial Assets on Malta, and therefore in the European Union.

The post BANKEX asks for review before securities private placement first appeared on The Malta Business Weekly.