Innovating in the U.S. Regulated Municipal Market
POULSBO, Wash.–(BUSINESS WIRE)–Alphaledger has recorded municipal bond originations on blockchain infrastructure in the United States, utilizing parallel recordkeeping. This milestone is the first step towards a fully on-chain life for municipal bonds, without needing the PDFs, faxes, and intermediaries required today. While Alphaledger is focused on origination, this first step sets in motion future smart contract capabilities, including on-chain clearing and custody.
- Recorded municipal security originations on blockchain; as parallel recordkeeping;
- Recorded a secondary market municipal loan sale using blockchain technology; and
- Recorded municipal loans on blockchain at origination.
Alphaledger has recorded three new issue municipal bonds onto blockchain infrastructure:
- The Village of Fredonia, NY
- Village of Frankfort, Herkimer County, NY
- Southold Union Free School District, Suffolk County, NY
Bond market veteran and Alphaledger co-founder Tammie Arnold noted that these New York municipalities should be home to this important, public finance milestone: “The municipal bond market launched in New York state in the 19th Century in the drive to fund the Erie Canal, and we are honored to be the technology firm taking public finance into the 21st Century. With this technology investors can connect directly to fund projects from tens of thousands to tens of millions.”
With Alphaledger, permissioned blockchain infrastructure can now support critical U.S. public infrastructure. Alphaledger co-founder Manish Dutta noted: “Schools, water, power, roads – this is infrastructure vital to America’s growth which has been hard for investors to access directly in the traditional financial system. Alphaledger is built to provide greater transparency, traceability, and accessibility for towns and municipalities issuing bonds and to support investors seeking to access the returns they offer,” said Dutta. “This is the moment to make America’s future investable and accessible to all, and this technology makes that possible not in the distant future but right now, today.”
Alphaledger was formed in 2019 to provide a direct, transparent municipal loan and bond marketplace that streamlines debt financing and increases direct engagement with investors.
Alphaledger was founded by three bond market veterans, Manish Dutta, Tammie Arnold, and Chris Wade; bringing decades of combined experience in the fixed-income market, spanning technology, product development and wealth management.
The information provided herein is not directed at any investor or category of investors and is provided solely as general information about our products and services and to otherwise provide general education. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Furthermore, no information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as none of Alphaledger nor any of its affiliates is undertaking to provide investment advice, act as an adviser, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an investor, contact your financial advisor or other fiduciary unrelated to Alphaledger about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances.
Securities transactions will be conducted through IRIS Trading, Inc, “IRIS” a broker dealer, registered with SEC, FINRA, the MSRB and SIPC, and wholly owned by Alphaledger Technologies, Inc. “Alphaledger”. Check the background of IRIS on FINRA’s BrokerCheck. IRIS maintains parallel records using Alphaledger’s blockchain technology. IRIS does not currently offer digital asset products.
Alphaledger is a technology company focused on providing technology to its subsidiaries and prospective clients. It does not lend itself to the solicitation of securities activities, as it can only be done by prospectus and via a registered broker dealer such as IRIS.
Transfer agent services in the U.S. are provided by Alphaledger TA, LLC. Alphaledger TA, LLC is registered with the SEC as a Registered Transfer Agent.