ConsenSys acquires SEC-registered brokerage Heritage to issue tokenized bonds

ConsenSys, a large blockchain company founded by Ethereum co-founder Joseph Lubin, has acquired Heritage Financial Systems, a broker-dealer registered with the Securities and Exchange Commission (SEC). With the acquisition of Heritage, ConsenSys intends to strengthen its consulting and brokerage trading capabilities, which will help the company implement blockchain technology to issue tokenized bond products in the municipal market. Consensys is planning to apply blockchain technology to deploy automatic bond payments through smart contracts and allow issuers to track the owners of debt. In addition, Consensys hopes to develop tokenized mini-municipal bonds through its Codefi platform to provide issuers with the opportunity to sell small denomination securities.