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DX.Exchange, An Estonian platform launched last January opened its market to the secondary trading of security tokens.
Announced today, this grant now allows companies to list their security tokens previously issued on other platforms. Institutional investors in Europe can buy tokens in exchange for fiat, bitcoin, ether, tether and XRP.
However, to start with, only one of these tokens will be listed in DX.Exchange – its native IGWT token.
Finally, platform co-founder Daniel Skowronski told CoinDesk that the company would deploy its own technology for badet tokenization, but for now, it will facilitate the trading of existing security tokens.
Regarding the native token, 18 million IGWT will be offered as part of a closed security token (STO) offer for a limited time. Thereafter, 10% of the profits of the company will be regularly distributed to the token holders, DX.Exchange promised.
Currently, the platform operates in a closed regime for some 8,000 pre-registered users, Skowronski told CoinDesk, with the main launch scheduled for April. Users can currently exchange 10 encrypted currencies, including bitcoin, ether, litecoin, cash bitcoin, OmiseGo, XRP and others.
They can also buy and redeem ERC-20 tokens backed by real-world stocks, such as the shares of Tesla, Google, Facebook, Amazon and 30 others. The shares are purchased and held by the brokerage firm 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 badets, be they securities, works of art or real estate, will be symbolized. This symbolization has many advantages, but the most important is the ability to help create wealth for people around the world, regardless of their economic and social situation. "
Due to regulatory hurdles, the company is not offering its service to US users and is not planning to do so in the coming months, Skowronski told CoinDesk.
Exchange of images via Shutterstock
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