UBS Veteran Launches Cryptocurrency Startup Tokenyz

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by Christopher Hamman · 3 min read
UBS Veteran Launches Cryptocurrency Startup Tokenyz
Photo: tokenyz / Twitter

It has become known that ex-UBS employee Claude Waelchli has launched his cryptocurrency tokenization startup called Tokenyz.

With the current expansion of and new entrants into the crypto space, ex-UBS employee Claude Waelchli has decided of a lifetime: to pitch his tent (and his life as well) with cryptocurrencies. After leading the Global team for the management of portfolios for ultra-high net worth individuals and institutions, Waelchi has decided to settle for nothing less than the best as he studied digital assets and to launch his own startup Tokenyz.

The new cryptocurrency startup’s name is a play on the English word meaning the transformation of physical assets into digital ones. Waelchi decided to leave UBS in July this year and create a startup that caters to digital asset creation.

With other competitors that are emerging within the same niche (Securitize, SharesPost and OpenFinance among others), Tokenyz aims to make money in two ways: firstly from a commission for referrals and a consultation fee gained through arranging transactions. Waelchi said:

“I think it’s no secret that the banks do experiment with new technology a little bit.” 

 “There’s nothing really substantial that banks are doing at this point in time,” continued he.

While banks are still considering what they intend to do with cryptocurrencies and their underlying technologies, companies like Tokenyz are filling the gap by providing many solutions to solve problems for clients and customers. Its structures and technology allow for accredited users and institutional clients to use the platform for the creation of tokens within an ecosystem.

Already, the solutions that the team at Tokenyz have developed are structured to run on the Ethereum blockchain and the tokens developed function on the ERC 1400 token as well. Waelchi desires a common standard for tokenization and indicated this as well. 

“What we are currently looking into is creating a global alliance of the top experts in the space to provide an open forum for dialogue where you can have conversations and eventually work towards a common standard,” explained he.

While common standards aren’t new, what’s new about this arrangement is that a former banker with the required experience in investment banking has now decided to create a solution that can work for the cryptocurrency token space.

The advantages of tokenization aren’t new to secondary markets. The transaction times fall to minimal levels, settlement times are reduced, transparency when it comes to transaction execution increase and greater liquidity of such ecosystems now ensue as the influx of capital based on purchases of digital assets creates value across the board. 

Although, tokenization is a relatively new industry on a global scale, it presents vast opportunities for startups such as Tokenyz to cut their teeth in and to also create a new paradigm for global finance as blockchain technology is an open-ended model where transparency ensures the trust in the systems unlike the current centralized systems currently dominating the financial space. 

The human resource strength of Tokenyz currently stands at 17 which includes heavyweights such as the former Chief Technology Officer of Coinsecure Benson Samuel and Harsh Patel who is the former consultant to Capgemini.

As for the prospects of Tokenyz being a firm to reckon with, as long as all hands are on deck to ensure its eventual success, the firm will make its own mark in the crypto space. 

Altcoin News, Blockchain News, Cryptocurrency news, News
Christopher Hamman

Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

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