- Swarm launches seven new tokenized public stocks
- Swarm users grew nearly a fifth since launching tokenized RWAs
15th June 2023: Compliant blockchain platform Swarm today announces seven companies its community selected are live for trading.
Swarm held a community vote for holders of its payment token, SMT, to determine which securities should be added to its decentralized trading platform. The shortlisted companies came from public nominations made on Twitter using the #ShareTheShare campaign.
Seven real-world assets were selected through this process, including Blackrock, Coinbase, Coupang, Intel, Microsoft, Microstrategy and NVIDIA. The assets can be traded alongside Apple, Tesla and two US Treasury Bond ETFs on Swarm’s compliant decentralized finance (DeFi) platform.
Philipp Pieper, Co-founder of Swarm said: “Swarm is a hybrid between the wild west of crypto and traditional centralized exchanges. Whilst we need to satisfy compliance concerns, we are a DeFi community at heart and it is imperative our users’ voices help drive product innovation. This is the first step to ensure our platform is continually responding to investors’ desires both on the retail and institutional side.”
Swarm launched tokenized stocks and bond ETFs on February 24th 2023, including Apple, Tesla, iShares US treasury bond 0-1 year ETF and iShares US treasury bond 1-3 year ETF. Between February 24th and May 23rd, three months after launching, Swarm’s user base grew by nearly one fifth (17.6 per cent).
The number of holders of the tokenized forms of securities has steadily increased. On a month-by-month basis, Swarm experienced a 16% rise in token holders in the second month, from March 24th to April 23rd compared to month one 24 February to 23 March, and a further 4% in the third month, from April 24th to May 23rd.
Timo Lehes, Co-founder of Swarm said: “Tokenization is drastically improving the way we trade. Not only are we expanding the asset universe available on chain, but institutions and asset owners alike are coming to us with their tokenization and trading needs.The significant growth of users and demand seen in the first quarter is a testament to this and highlights investor demand for a more diverse set of assets available on chain.”
The fully asset-backed tokens are available on the Polygon blockchain for both retail and institutional investors, with no minimum investment. Trading is available 24/7 and compliant on Swarm’s permissioned DeFi platform.
Tokens are self-custodied and held in the owner’s crypto asset wallets. Tokens can be redeemed for the value of the underlying asset at any time and monthly disclosures of assets in reserve will be made publicly available.
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Notes to editors
- The community vote was conducted on Snapshot. Anyone with one SMT in their crypto wallet was eligible to vote. Voting was done on an approval system, where users could vote to approve as many or as few companies as they wanted to.
- SwarmX GmbH, the issue of the stocks and bonds tokens, is a wholly-owned subsidiary of Swam Markets GmbH. All published prospectus and notifications for the certificate tokens can be found here (search SwarmX).
- Reserve disclosures published here.
About Swarm
Swarm is a blockchain platform that brings novel digitization and trading solutions to the world of traditional finance. It is the first organization in the world to offer digitized treasury bills and Apple stock via a compliant and decentralized platform. Day to day, we work with real-world-asset owners to tokenize collateral and build trading infrastructure in a compliant way.
Swarm is a hybrid, embracing the advantages of blockchain-trading – flexibility, speed and efficiency – and pairing it with the trust and asset-range typically enjoyed by traditional exchanges. Swarm aims to integrate TradFi with DeFi so that everything becomes “Fi”. For more information, visit the website.
