FGNX shareholders have the option to exchange their stock for Ethereum-based ERC-20 tokens.
FG Nexus Inc. started issuing SEC-registered common and preferred shares directly on the Ethereum blockchain.
Through its Securitize partnership, shareholders can now swap out traditional stock for on-chain versions that offer instant settlement and programmable dividend distribution.
Ideally, under ERC-20-like smart contracts, shareholders can exchange stock for Ethereum-based tokens.
These feature the same legal rights and CUSIPs as regular shares, thus allowing for immediate on-chain settlement and programmability of dividends, compliance, and voting-all fully compliant with the SEC.
The company has also been divesting back-end businesses, including reinsurance, via crypto-first efforts like the tokenization of assets, merchant banking, and smart contract settlements.
CEO Cerminara and Maja Vujinovic, the head of Digital Assets, still see Ethereum as the foundation for the next generation of financial settlement. Their tokenization efforts reflect the idea that public blockchains will form the backbone of future capital markets.
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