UK-headquartered Nivaura, a regulated Fintech firm supported by the London Stock Exchange Group, has hired HSBC executive Chris Jones, the company confirmed.
Nivaura helps clients review and process capital market legal documents. Jones will be advising on product features and he will also be responsible for promoting the use of Nivaura’s blockchain-based platform.
Earlier this year, Nivaura raised a $20 million strategic funding round led by the London Stock Exchange Group. Other companies participating in the investment round included Allen & Overy, Linklaters, Orrick, Santander InnoVentures, Aegon Asset Management, Middlegame Ventures and the Digital Currency Group.
As previously reported, Nivaura has formed a partnership with Fineqia (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) to create a fully automated tokenized bond issuance and administration service. Fineqia is an investor in Nivaura.
Blockchain-based Fintech 20|30 tested equity tokens using Nivaura’s integration with the London Stock Exchange Group’s Turquoise platform.
Prior to joining Nivaura, Jones was working at HSBC’s London offices for the past 15 years. He also served as the global head of local currency syndicate for eight years and global head of MTNs and structured notes for seven years.
Before joining HSBC, Jones worked in similar roles at Deutsche Bank.
Jones believes that Nivaura has made substantial progress by “collaborating with the market incumbents” and hopes his “experience and relationships will help enhance those efforts.”
Jones remarked:
“There is a significant opportunity to help the capital markets become more digital.”
Nivaura CEO Avtar Sehra stated:
“Chris has a deep understanding of capital markets execution, and in recent years has also been involved in a number of proprietary and third-party capital markets technology initiatives.”
Nivaura’s main offering, Aurora, leverages blockchain technology to assist financial institutions, issuers and law firms in managing legal documents related to various issues. Aurora is also used to distribute data to agents, custodians, and securities depositories.
The system can be developed on any blockchain, however, the most recent transaction for Banco Santander was conducted on the Ethereum network.
Established in 2016, Nivaura’s management said it took part in five different regulatory sandboxes from the UK’s financial regulator, the Financial Conduct Authority (FCA), and gained the relevant legal approvals.