Walkers advises on establishment of Jersey token issuer helping power the move to net zero

Fuse customers earn tokens as a reward, incentivising them to carry out certain actions, such as installing solar panels or running their washing machine at night when there is less demand for electricity. The tokens can then be redeemed by customers to obtain a discount on their electricity bill or purchase other products and services available in the Fuse ecosystem.
 
The team at Fuse Energy (which includes ex-Revolut, Meta and Tesla engineering alumni) have termed this "Project Zero" and are excited about the prospect of building a decentralised renewable energy network.
 
The Walkers team, led by Dilmun Leach, partner of Walkers (CI) LP, advised on all Jersey fintech and regulatory aspects through to obtaining JFSC approval to issue the tokens, as well as providing corporate advice in connection with funding rounds including entry into "SAFT agreements". The other members of the Walkers team assisting on this were Sarah Townsend (senior counsel) and Luke Steele (senior associate).
 
Dilmun said: “We are delighted to have worked with Fuse Energy on this innovative project. Securing Jersey regulatory approval to issue the tokens means that Fuse Energy, its investors and customers will be supported by the regulatory certainty which the framework set out in the JFSC's token offering guidance note offers. It has been fascinating to learn more about Fuse Energy's plans, as one of Jersey's first utility token issuers, with this being the latest in a series of exciting projects which the Walkers' Jersey Fintech team has been working on."
 
Alan Chang, Fuse co-founder and CEO commented: "We selected Jersey as it is a well-regarded jurisdiction in terms of its corporate law and digital assets framework, with high quality service providers who can help support this project. Walkers have expertly helped us to navigate our way through the regulatory approval process. We are looking forward to getting to work on achieving our goals."
 
Walkers in Jersey has a leading cross-practice debt capital markets, fintech, regulatory, corporate and investment funds team who are at the cutting edge of innovative financial services products including all kinds of virtual tokens, exchange traded products (ETPs) and exchange traded notes (ETNs), collateralised loan obligations (CLOs), note issuers, securitisation vehicles and "tokenisation" issuers and platforms. Our Jersey team works seamlessly with colleagues in the Cayman Islands, Ireland, Bermuda, London, Guernsey and our other four offices, making us well-placed to advise clients on novel projects such as this.
 
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