Notably, it is the first ever Ethereum blockchain based security ranked by Morningstart.
On March 8, Forbes had reported that the $40 million market value of Fatburger’s securities, estimated by Morningstar, included securities disbursed through Ethereum blockchain.
Morningstar usually provides rating on a conventional paper debt security. According to the rating firm, use of blockchain technology based platform improves transparency, while allowing quicker data access.
Morningstar’s credit rating division is already working on a blockchain platform for the $117 trillion worth debt securities sector since October 2019.
The renowned international financial services company, as per company’s data website Owler, has annual revenue of $1.20 billion and employs 5,416 people.
Fatburger, on the contrary, has annual revenue of roughly $8.80 million and employs about 503 people.
Think tanks believe that the transparency and data integrity capability offered by blockchain networks as a good match for handling regulated securities.
In the final week of January, the Chairman of the Security and Exchange Board of India Ajay Tyagi stated that blockchain is one of the path breaking technologies that can likely make a difference in the securities market.
Despite that, conventional markets are by and large cynical about some electronic securities platforms.
Notably, the Boston Security Token Exchange continues to hold on for acceptance by the US SEC (Securities and Exchange Commission).