08 September 2021

Carey Olsen and Cavendish support Radix on Olympia mainnet launch

Carey Olsen and Cavendish Fiduciary have supported Radix, the layer 1 decentralised finance protocol for digital assets, on the launch of its public network mainnet Olympia.

Radix affirms Olympia is a generational improvement in the history of decentralised ledger computing and represents the next, deliberate step on the planned roadmap to a frictionless financial future.

Alongside Olympia, Radix has also launched Instapass, a service which allows for the world's first single sign-on compliance solution for any decentralised application (dApp). With Instapass, a user will be able to provide the necessary information to meet regulatory requirements one time only and then share those credentials to any dApp as necessary.

The Carey Olsen team advising Radix on the launch of both Olympia and Instapass was led by Chris Griffin, partner and heads of the firm's digital assets, fintech and blockchain team in Jersey. He was assisted by associates Holly Brown and Daniel Burridge.

Chris said: "Having previously advised Radix on the launch of its inaugural utility token, we are delighted to support the company on its latest protocol development which, once again, underlines its position at the forefront of the crypto and digital assets space."

Cavendish Fiduciary has been involved since inception of the various elements of the Radix Protocol, through to the development of its innovatory compliance solution, Instapass.

James Cunningham-Davis of Cavendish Fiduciary commented: "The whole team at Cavendish are delighted to be involved with such a progressive business as Radix. I am personally delighted to be appointed to the various Radix Boards and with the expert assistance of my fellow Cavendish director, Lindsay Bracegirdle covering all matters compliance and governance. We continue to be pleased by the pragmatic and collaborative approach shown by the Jersey Financial Services Commission, which reinforces Jersey's commitment to fintech, digital assets and wider blockchain enterprise. This will further ensure that Jersey maintains its preeminent position for clients and advisors alike when selecting a jurisdiction to set up their business."

Andy Jarrett CEO Radix Tokens Jersey added: "Olympia is the start of the core Radix ecosystem, which will remain in place as Radix continues to grow with future releases. This initial release of the public network delivered the native RADIX (XRD) token and the foundational technology stack on which the future of both Radix and decentralised finance (DeFi) will be built. The Olympia launch is a hugely important milestone for Radix as it marks the start of a roadmap of releases that will culminate in the unprecedented DeFi readiness and limitless linear scalability in the Xi'an release.

"The depth of sector expertise and pragmatic approach from both Carey Olsen and Cavendish Fiduciary have played a significant part in the decision to establish a number of our operating businesses in Jersey."

For further information on Radix and Olympia mainnet, please visit www.radixdlt.com.

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