Arc(hway) To New Digital Securities Beginnings
7 Jul 2020 — Less than 24 hours ago, history has been made, well at least in the U.S.. Arca offered the first U.S. Securities and Exchange Commission registered fund under the Investment Company Act of 1940, issuing its shares as digital securities called #Arcoin.
According to release, each ArCoin is a share of the Arca U.S. Treasury Fund, a registered fund with a portfolio of primarily U.S. Treasury securities.
Shareholders can directly transfer ArCoin using blockchain technology, broadening the use cases for a registered investment product.
“It is truly exciting to be pioneering new digital investment products through our Arca Labs division that marry best practices used in traditional finance with the many potential benefits of digital and blockchain technology.” – Rayne S. CEO of Arca.
“We are establishing Arca Labs at the forefront of this industry to innovate digital investment products that provide regulatory oversight and transparency, along with daily valuation,” – Jerald David, President of Arca
While the approval from the SEC for Arca has opened doors to new innovative blockchain-based financial products, hopefully this marks the beginning for other global crypto-skeptical regulators to follow suit.