Lykke’s mission more important now than ever
Zug, Switzerland. – Nov 11, 2020. The Swiss start-up Lykke is getting closer to the approval for its license by the FINMA, the Swiss Financial Market Supervisory Authority. This license opens the possibility to operate as a securities trader and an organized trading facility at a time when a radical redesign of the financial system is drastically needed.
It is becoming increasingly obvious that the existing financial systems and structures are no longer suitable to reflect the needs of modern society, politics and economies. Individuals, businesses and governments are all struggling with the inefficiencies of the current infrastructure, especially in times of crisis where quick actions are needed. Fortunately, Lykke has the answer to this problem. Lykke is a Swiss-start up whose vision is to use new blockchain-based technology to digitally tokenize assets of any kind. This will make any asset tradable and instantly accessible to anyone with a smartphone or computer. With Lykke, soon the everyday consumer will soon be able to buy any fraction of any share in a few clicks from anywhere; ⅓ of Nestlé? 1/10 of Apple? Whatever you want.
The company’s Founder and CEO, Richard Olsen, is a pioneer in high-frequency trading (HFT). He co-founded the globally renowned OANDA, the first fully automated FX trading platform offering second-by-second interest rate payments. Olsen says “At Lykke we feel that the entire financial system needed to be changed. So far the system has only increased inequalities, preserved inefficiencies and fostered differences across societies. That’s why we are going to offer a new digital solution for a digital world. Tokenisation will be the arteries of this new system, allowing every organ of society to access the vital resources that nourish the system” explained Olsen.
Crucially this will all be within the existing regulatory framework which guarantees the safety of the system, but also the buy-in from governments and regulators. Recently Lykke announced significant steps in its application process for the regulatory approval of its license, and an opportunity for interested investors to take part in their project (LINK). The revolution that Olsen has seen as inevitable for all of his 25 years of experience in the financial world maybe sooner than you think.
Lykke is a Swiss-based global fintech firm that utilizes blockchain and emerging technologies to provide solutions for consumers, investors, and corporations. By leveraging the power of a broader ecosystem, Lykke’s platforms eliminate barriers to market entry, solve inefficiencies within current economic systems, and democratize access to digital asset marketplaces. Learn more about Lykke’s work by visiting the website and following Lykke on Twitter and LinkedIn.
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