CDRX Welcomes Lex Sokolin to Advisory Board
CDRX has secured to its Advisory Board a distinguished crypto community figure who is also a top contributor to the Wall Street Journal, CNBC, and Reuters.
CDRX is a project with the potential to change the way we trade and issue securities. Backed by a global hedge fund, the venture is also supported by financial industry veterans from Goldman Sachs, JP Morgan, Merrill Lynch, HSBC, and UBS. Now the company has enlisted the support of Lex Sokolin, one of the most prominent crypto community members, a frequent speaker at industry events, and a founder of numerous startups.
"We are at the very beginning of discovering how crypto assets will impact the investment management value chain and help clients. The CDRX solution could digitise billions in outstanding securities and create a modern infrastructure for access and exchange. Simply, this should help many more people achieve their financial goals with the right instruments in the right package", Lex said.
Founder, advisor, and a LinkedIn Top Voice, Sokolin will bring his knowledge and expertise to advance the project development.
Commenting on the announcement, CDRX chief executive David Ward said:
"We are thrilled to welcome Lex to CDRX and will undoubtedly benefit from his industry knowledge, contacts, and complementary experience. This represents further endorsement of CDRX's approach as a bridge between traditional financial and crypto markets".
CDRX is an innovative fintech company which aims to act as a bridge between traditional financial markets and the crypto space, by developing an exchange and a tokenization solution.
The company is building an ecosystem for tokenizing existing and native bonds and equities issuance, being able to bring the entire global securities market on to the blockchain. The system revolves around a new product called Crypto Depository Receipts (CDRs), which blend the best of the proven financial model of American Depository Receipts (ADRs) and state-of-the-art blockchain technologies.
CDRs are issued by a custodian trust on a smart contract and backed by underlying securities, thus entitling their holders to the same rights and privileges associated with traditionally purchased securities. They also reduce transaction and administrative costs due to the automation provided by smart contract technology. Each CDR represents a single share and allows for fractional ownership, which opens up the global securities market to a further one billion retail investors.
The CDRX exchange, on the other hand, will not only allow traditional crypto token trading but will also support securitized tokens as regulatory approvals are obtained.
Visit https://www.cdrx.io for more information or contact the team to learn about the project or to convert existing securities into CDRs.