Sweetbridge Inc., an American company at the forefront of the blockchain economy acquires B.heard.
B.heard acquisition by Sweetbridge Inc is first token-for-cash equity M&A transaction in the UK
Sweetbridge technology releases unrealised value trapped within business supply chains
Tokenisation is expected to become a vibrant new asset class in the years to come
The Sweetbridge technology continuously assures that information and commitments can be trusted between parties. This technology releases unrealised value trapped within business supply chains. It enables the tokenization of assets and rights, provides for new forms of asset-based finance, lowers supply chain costs, ensures regulatory compliance and enables the real-time audit of financial information.
Scott Nelson, CEO of Sweetbridge, said: “Supply chain management involves the production, movement and storage of almost everything we interact with each day, which involves extensive cooperation between many organisations in order to get a product or service built and delivered to your door.”
Nelson founded the fintech company Trax Technologies in 1993 and sold it in 2015 after establishing the company as an international supply chain management leader.
“We believe that 2019 and 2020 will see Sweetbridge establish technology partnerships with any number of leading auditors and financial institutions,” notes Nelson, “as we move to the next generation of KYC and AML reporting. Moreover, our technology should disrupt the entire food production industry in the UK over that period.”
Download the full press release here.