Former UBS Banker Launches Digital Securities Platform Tokenyz

A new startup launched by a veteran of global bank UBS is entering the increasingly crowded field of platforms for issuing digital securities on a blockchain.

Claude Waelchli left the Swiss bank, where he was head of portfolio advisory for global ultra-high net worth and institutional clients in July.

During his 12 years at the bank, Waelchli explored the blockchain space and learned about digital assets in the process.

"I think it's no secret that the banks do experiment with new technology a little bit," Waelchli said.

Like its incumbent rival Securitize, Waelchli's venture is named for a verb, albeit a deliberately misspelled one: Tokenyz.

Over the last six months, the team developed the infrastructure needed to tokenize existing assets on the ethereum blockchain and a user experience for both accredited individual investors and institutional investors.

Now, the team is building out standards for digital securities, specifically the ERC-1400 token.

Tokenyz has 17 employees in total, including former chief technology officer and founder of Coinsecure Benson Samuel and former Capgemini consultant Harsh Patel.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.