DX.Exchange launches Security token trading
DX.Exchange, an Estonian based digital asset exchange built on Nasdaq technology, which launched in January of 2019, unveiled that they are now open to trade security tokens, allowing millions across the world access to the trade market. What this means is that companies can now list their security tokens on the exchange and institutional investors can purchase these tokens using fiat currencies, Bitcoin, ether, tether, and XRP.
CEO and Co-Founder Daniel Skowronski states, “Converting real world items to a digital format it where the world is going. The announcement of the security token offering was carried out at Token2049 conference in HongKong. The DX group will restructure into a new entity DXexchange.
In the future the company will roll out its own token. However, to start with, only one such token will be listed on DX.Exchange – its native IGWT token. As for the native token, 18 million IGWT will be offered in a closed security token offering (STO) for a limited time, and afterward, 10 percent of the company’s profits will be regularly distributed to the token holders, DX.Exchange pledged.
Currently, the platform is functioning in a closed regime for some 8,000 pre-registered users. The main launch will be in April. Today the pre-registered users can currently trade 10 cryptocurrencies including bitcoin, ether, litecoin, bitcoin cash, OmiseGo, XRP and others.
They can also purchase and trade ERC-20 tokens backed by real-world securities, such as stocks of Tesla, Google, Facebook, Amazon and 30 more. The stocks are purchased and held by the brokerage MPS Marketplace Securities Ltd. registered in Cyprus.
“Our vision is to bridge the gap between the old world and the new digital world,” Skowronski said in a press release. “We believe that all assets whether its securities, art or real-estate will be tokenized. This tokenization has many benefits but the strongest is the ability to help create wealth for people all over the world no matter their social economic situation.”