The future of financial markets appears to be on the path of modernization thanks to Robert Leshner’s revolutionary concept of Superstate. Leshner, CEO of decentralized lender Compound, is spearheading the crusade for a blockchain based bond fund, an integral part of his ambitious plan. The fund will invest in “ultra-short duration government securities” that include U.S. Treasury bonds, government agency securities, and other government-backed instruments.
Robert Leshner Secures SEC Approval for Fund Operations
For the past few months, Robert Leshner has been hard at work – submitting filings to the U.S. Securities and Exchange Commission, which has granted permission for the fund to operate. Robert Leshner intends to enable the peer-to-peer transfer of the fund’s shares among shareholders on a blockchain using Secondary Blockchain Records.
Leshner refers to securities as “offline” assets that can be transferred on a blockchain, specifically Ethereum. Franklin Templeton supports the fund on the Ethereum blockchain using layer 2 blockchain Polygon, enabling its functionality.
Automating Data Tracking and Reducing Manual Labor
Roughly put, Ethereum-based blockchains are able to process transactions faster with fewer errors and greater security. All of this data is tracked automatically, reducing the manual labor needed when checking the records. Moreover, the primary exchange platform is Benji Investments, via their ERC-1155 token.
The fund already has over $3.75 million in securities. Franklin Templeton believes that blockchain-integrated systems are providing operational efficiencies and, simultaneously, strengthening their investor experience.
Tokenization of Israeli Shekel: Paving the Way for More Nations to Follow
Israeli Ministry of Finance and Tel Aviv Stock Exchange explore blockchain for government bonds issuance and settlement with successful PoC. This featured the tokenization of an Israeli Shekel and, possibly, more nations to follow suit.
Nevertheless, it is clear that Robert Leshner’s vision is quickly becoming a reality. We are witnessing the ambitious roadmap of upgrading financial markets and migrating offline assets onto blockchains. A milestone has indeed been achieved as Leshner moves one step closer to revolutionizing the future of financial markets. Soon, hundreds of trillions of offline assets will bridge the gap between traditional finance and blockchain technology.
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