Investment Advisor Morgan Creek Tokenizes Tech Firm's Paper Shares

[MoneyICO]

Morgan Creek Blockchain Capital is tokenizing a private company's equity, turning its existing shares into new security tokens. The blockchain wing of Morgan Creek Capital Management, an investment advisor, announced Wednesday that it is working with Anexio Technology Services to convert all of its physical shares into an ERC-20 token. The ERC-20 standard allows for the creation of tokens on the ethereum network. The company plans to raise $40 million by selling the tokens to accredited investors.