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John Mattera’s Vision for a Global Private Exchange to Transform the Industry



Is Crowdfunding for Startups a Good Idea?

The traditional investment landscape is facing a paradigm shift as global private exchange platforms rise to prominence. Addressing long-standing challenges of liquidity and capital infusion for private companies, John Mattera unveils how a global private exchange could be a game-changer. Leveraging cutting-edge technology and modern regulatory frameworks, these platforms promise to unlock substantial value for both businesses and investors.

1. The Need for a Global Private Exchange

In the current global landscape, private companies across diverse industries and regions require more efficient and flexible capital-raising and liquidity avenues. Traditional Initial Public Offerings (IPOs) may not always be practical or appealing due to regulatory scrutiny and financial reporting obligations. A global private exchange, as envisioned by John Mattera, bridges this gap, offering advantages such as:

  • Enhanced capital access: A global private exchange can attract a broader base of accredited investors, providing crucial funds for growth and innovation.
  • Improved liquidity: By enabling buy and sell capabilities, the private exchange facilitates secondary market transactions, allowing shareholders to monetize investments outside of IPOs or acquisitions.
  • Customized market-making: Tailored market-making solutions can maintain a well-functioning market, ensuring fair price discovery and efficient transactions.

2. Key Components of a Global Private Exchange

John Mattera explains that creating a successful global private exchange involves several critical components:

A. Regulatory Framework

Navigating international regulations is integral to building a global private exchange. Collaboration with regulatory bodies ensures compliance while advocating for progressive legislation tailored to private companies’ unique needs.

B. Technological Infrastructure

A robust technological foundation is essential for a global private exchange’s success. It must offer seamless user experiences, secure transactions, and cutting-edge features:

  • Blockchain-based settlements: Distributed ledger technology ensures faster, more secure, and cost-efficient settlements.
  • Digital securities: Tokenizing private securities enhances liquidity and trading efficiency.
  • Advanced trading tools: Features like algorithmic trading empower participants for precise execution.

C. Market-Making Mechanisms

Market-making is pivotal for a functional private exchange. Tailored solutions for private companies, including:

  • Customized liquidity provision: Collaborating with market-makers establishes tailored liquidity pools.
  • Price stabilization mechanisms: Circuit breakers and similar measures protect investors from extreme volatility.
  • Investor education: Offering resources educates investors, fostering a knowledgeable user base.

3. Attracting a Diverse Ecosystem of Participants

A thriving global private exchange hinges on diverse participation:

  • Private companies: The exchange must attract high-quality firms across industries and regions.
  • Accredited investors: A broad spectrum of investors, from institutions to high-net-worth individuals, ensures demand for private securities.
  • Service providers: Partnerships with industry players enhance the exchange’s comprehensive services.

4. Promoting Transparency and Trust

Transparency and trust are fundamental for a global private exchange’s success, as outlined by John Mattera:

  • Rigorous due diligence: Stringent standards ensure listed companies meet financial, operational, and governance criteria, instilling market confidence and protecting investors.
  • Enhanced reporting and disclosure: Encouraging voluntary financial and non-financial disclosures promotes transparency and informed decision-making.
  • Robust cybersecurity measures: Cutting-edge security safeguards user data, building participant trust.


Establishing a global private exchange with buy and sell capabilities and innovative market-making mechanisms can transform private company investment. Through inclusivity, efficiency, and transparency, a global private exchange can generate substantial value for both companies and investors. Addressing regulatory, technological, and market-making challenges while fostering diverse participation paves the way for a vibrant ecosystem. Ultimately, a functional global private exchange can catalyze innovation and economic growth, benefiting participants worldwide.

Published First on GritDaily. Read Here.

Featured Image Credit: Photo by Anna Nekrashevich; Pexels; Thank you!


Fintech Kennek raises $12.5M seed round to digitize lending



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London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

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Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs



Deanna Ritchie

As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations



Deanna Ritchie

As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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