City law firm acting for Byzen Digital as it ramps up in advance of initial coin offering
UK commercial law firm, Al Bawardi Critchlow, today announced that its founder and senior partner, Dr Julian Critchlow, has been appointed as a non-executive director by blockchain and cryptocurrency technology company, Byzen Digital Inc. Dr Critchlow joins the Byzen Digital board in preparation for the firm’s initial coin offering, scheduled for 2018. Al Bawardi Critchlow also advised Byzen Digital in connection with its November 2017 flotation on the US OTC markets.
“Byzen Digital’s objective is to offer a range of cryptocurrency solutions that will demystify the blockchain and inspire mass-market participation,” said Gary Potter, CEO, Byzen Digital Inc. “Blockchain regulation varies considerably between jurisdictions, and is in a constant state of flux as legislators continue to wake up to the legitimacy and widespread potential of cryptocurrencies. Dr Critchlow’s knowledge and experience in both financial regulation and commercial law will be immensely important as we navigate this emerging market and gear up to launch our range of services in 2018.”
In addition to advising Byzen Digital on its recent flotation, Al Bawardi Critchlow is providing the cryptocurrency company with legal advice on the financial regulations and corporate legislation governing its operations, as well as on matters concerning commercial transactions and the intellectual property of its blockchain. The Al Bawardi Critchlow team is able to work in conjunction with its New York-located partner firm, Costigan Critchlow, to advise on New York Stock Exchange flotations, reverse takeovers and wider corporate matters that impact cryptocurrency firms operating in both the UK and US markets.
“Byzen Digital is a company with enormous potential. Not only is it developing an innovative, highly secure suite of solutions that will make it easier for everyday people and a wide range of different organisations to deal in cryptocurrencies, but it is one of very few firms in the industry that has taken the decision to float,” said Dr Critchlow. “I’m delighted to be joining a team that combines deep technical expertise with bold business ambition, augmented by the added credibility which comes from being a US Securities and Exchange Commission regulated company.”
As well as working with blockchain innovators such as Byzen Digital, Al Bawardi Critchlow is seeing increased interest from other businesses eager to invest in and process cryptocurrencies. This includes foreign exchange traders, banking clients, wealth management advisers and companies outside of the financial services sector, for example, in construction.
“Many businesses are attracted to blockchain because its secure and decentralised. Others are drawn to the fact that cryptocurrency transactions are magnitudes faster and cheaper than traditional payment methods,” continued Dr Critchlow. “We’re helping organisations from a diverse range of industries explore how they can incorporate cryptocurrencies into their day-to-day business operations and benefit from their many advantages.”