Dan Romero
@dwr.eth
I wonder what the CFOs of private companies think about tokenized shares. And what courts will think if the shareholder agreements have transfer restrictions. Are the shares actually derivatives?
10 replies
2 recasts
45 reactions
Jacob
@jrf
interesting q i think if the share is backed 1:1 and represents ownership in the company, then it's just trading in a new marketplace, and not a derivative however, i think 99% of the exciting things you can do with that share once it's onchain are 100% derivatives
0 reply
0 recast
2 reactions
Pichi
@pichi
I’d be freaking out.
0 reply
0 recast
1 reaction
eirrann | he/him
@eirrann.eth
I strongly doubt that many of them are ready
0 reply
0 recast
0 reaction
Elpizo Choi
@elpizo
I imagine at the start the blockchain is just used as a settlement layer. Transfer restrictions are prob still respected by agent brokering deals. That’s mostly how we pitched at it at Harbor back in 2019. Otherwise you’d have to get tokenizaton-friendly clauses at issuance stage (very hard), or issue tokens as ownership of entities owning the actual shares (complex & gray).
0 reply
0 recast
0 reaction
Mepras Cook
@yadnuso
Courts will have a tough job interpreting these agreements. And I think CFOs are also worried about investor relations.
0 reply
0 recast
0 reaction
Peter
@silencedogood.eth
“Tokenized shares” is the wrong framing. It’s just regular shares on a more efficient and accessible settlement layer
0 reply
0 recast
0 reaction
rphgrc.base.eth ↑🔵😺
@rphgrc.eth
I believe that Robinhood has struck deals with a first batch of with private companies whose governance has allowlisted all the kyc'ed clients of Robinhood.
1 reply
0 recast
0 reaction
Lukas
@pita
I think you're just trading a derivative of whatever RH has allocated and then quote the price. Some progressive banks in Europe already offer such exposure to retail+ though it's not onchain
0 reply
0 recast
0 reaction
Sunny Ebinum
@sunnyebinum
Is there a way to tell if the shares have restrictions onchain? Answer is no. Tokenized shares are still in their early stages, they will evolve with time...
0 reply
0 recast
0 reaction
SuperBuu.eth
@superbuu.eth
Probably in panic mode
0 reply
0 recast
0 reaction
