ConsenSys – blockchain heavyweight established by Ether co-founder Joseph Lubin – has reportedly finalized its acquisition of the US-based broker-dealer, Heritage Financial Systems.

Heritage – a US SEC-licensed broker-dealer – has been purchased by the broker-dealer arm of ConsenSys, ConsenSys Digital Securities, as disclosed by ConsenSys Codefi on February 4th. 

With the Heritage acquisition, ConsenSys is looking to streamline its advisory and broker-dealer, which ultimately helps boost the implementation process of blockchain, for generating token bonds offerings in the municipal market.

“The acquisition will bolster ConsenSys in-house broker dealer capabilities by adding municipal finance in addition to some other lines to our existing line of private placement business at Consensys Digital Securities.” Emma Channing, a ConsenSys Digital Securities spokesperson who will support the brokerage task via Heritage, claimed. 

Particularly, ConsenSys aims to utilize blockchain features for rolling out its smart contract-enabled automatic bond, along with help users manage who owns the debts. 

In the future, ConsenSys plans to build its tokenized mini-muni bonds by Codefi platform, in an attempt to enable issuers to conduct transactions with smaller denominations.