Market structure veteran Richard Johnson has left Greenwich, a global data and analytics provider, to start his own crypto firm, Texture Capital.
“I started thinking about this a while ago,” Johnson told The Block. “I was sitting at my desk at Greenwich and writing about how tokenization and STOs are going to be revolutionary to market structure, but I was not doing anything about it.”
To execute on his entrepreneurial ambition, Johnson resigned in September and founded Texture Capital. His new venture is a broker-dealer firm that uses blockchain technology and smart contracts to streamline the insurance and trading of digital securities.
The security business is driven by institutional money, Johnson told the block, and he plans to use his almost two decades of experience with institutional clients to differentiate his new startup. The next step, he said, is to get regulatory approval as a broker-dealer to trade security tokens.
Security Token Offering (STO) enterprises now operate in a fast-changing and unpredictable environment. FinTech company Templum this month lost its CEO Vincent Molinari and CTO Annemarie Tierney. Compliance platform Harbor has been gunning to tokenize venture capital funds but there has been no information on where the initiative stands. Johnson expects his startup to benefit from this backdrop.
Johnson makes clear that he is not competing against established technology platforms such as Securitize and intends to stick with the broker-dealer model.
“We think the broker-dealer model is best because we think issuers will need help structure the deal and with other broker-dealer services,” he said. “We are going to go after the existing market with a new product that gives better transparency to issuers and investors.”
FinTech professional Richard Johnson leaves Greenwich to start his own crypto firm written by Yilun Cheng @ https://www.theblockcrypto.com/linked/47618/fintech-professional-richard-johnson-leaves-greenwich-to-start-his-own-crypto-firm?utm_source=rss&utm_medium=rss November 19, 2019 Yilun Cheng