Quantuma advises two French blockchain businesses (Project Expanse and Project Link) in the Financial Technology sector on their sales to investor consortiums
The businesses were incorporated in 2015 to build blockchain platforms including software development, particularly for the financial services sector. The software was initially deployed in France via two subsidiaries.
Project Link is a back-end settlement platform that performs notary, central maintenance and settlement services for trading platforms. The underlying blockchain technology lowers operational risk by processing over 30,000 transactions per second, instantly and securely. Link focuses on the French commercial paper (CP or NEU CP) and supports a market that enables transparency, instant trading and efficient delivery versus payment.
Project Expanse is an award-winning, regulated, record-keeping platform that facilitates a direct relationship between asset managers, institutional investors and corporates. It facilitates the subscription and redemption of fund units directly, removing the requirement for a transfer agent. Expanse securely stores the units, performs compliance checks and provides asset servicing.
Quantuma advised on the sale of Link to a consortium led by a French telecom giant and a major global Investment Bank as well as on the sale of Expanse to a large global Asset Management firm.
The sale was particularly complex given the new technologies involved, the multi-jurisdictional nature of the transaction and the complications caused by the assignment of debt.
Quantuma’s corporate finance and insolvency teams worked collaboratively to find a solution that worked for all stakeholders involved.