A Belarus-based startup has launched a secure and tokenized trading platform; through this commercial platform, the investors can purchase from conventional markets using Bitcoin and Ethereum.
Belarus has created a cryptography-friendly environment for Blockchain and cryptocurrency companies in the country. In December 2017, the government of Belarus recognized Bitcoin as a legal currency, Initial Coin Offerings (ICOs), and smart contracts. The government of Belarus also enacted a law to prohibit taxation from cryptocurrency mining, cryptocurrency trades, and Initial Coin Offerings until 2023.
Blockchain technology company Currency.com said that it will release its commercial platform for tokenized securities. This Belarus-based platform intends to allow investors to engage in trades and investments using common financial tools such as shares, goods, and indices, directly and needless to exchange cryptocurrencies to fiat money.
According to this official press release, the mentioned trading platform will begin with 150 tokenized securities, including any securities such as well-known shares, to silver, oil, and natural gas; but, eventually, it will release more than 10000 tokenized securities.
Users will be able to purchase tokens that reflect the function of some conventional capitals; such as Apple stock which is listed in NASDAQ stock market. Their currencies will have the same value as that of Apple stock, and they can be purchased using Bitcoin and Ethereum cryptocurrencies.
Blockchain-based company Currency.com is the first Blockchain-based business that has received the license of Belarus High Technology Park, in short HTP, under the title of “Developing a Digital Economy” on November 8.
In addition to the fact that the mentioned commercial platform is consistent with local regulation, it enforces the explicit requirements of KYC and AML supported by Blockchain smart services like Elliptic, Chainanalysis, and Coinfirm. In fact, to control transactions, a Blockchain tracing software will be implemented.
Furthermore, Blockchain company Currency.com is set to utilize its FCA and CySEC regulated platforms in order to provide access to the tokenized copy in exchange for an index, goods or stock.
Are Tokenized Assets Changed into a Trend?
On January 3 this year, Bitcoinist news website reported that an Estonian platform named DX Exchange, allowed users to trade well-known stocks using Ethereum Blockchain tokens through smart contracts.
Meanwhile, in 2018, Unofficial Central Bank and Monetary Authority of Singapore (MAS), formed a team with well-known companies such as Deloitte, Anquan, and NASDAQ to develop solutions for simultaneous trade and agreement in the field of tokenized cryptocurrencies and secure capitals.
NASDAQ stock exchange was founded in 1971 by the National Association of Securities Dealers, and its headquarter is in New York. NASDAQ stock exchange is open for six and a half working hours and starts working at 9:30 A.M. U.S. local time (5 P.M. in Tehran time zone) until 4 P.M. U.S. local time (00:30 A.M. in Tehran time zone). It has the highest number of stock trades in the world with 3321 participants and is considered the largest electronic trades market in the U.S.
It seems that tokenizing conventional capitals, such as shares, is turning into a developing trend; since the number of platforms owning this potential is increasing every day.