South Korean bitcoin exchange Bithumb in partnership with the us FINTECH company seriesOne will launch a platform for trading security tokens in the US. About it reports news Agency Yonhap.
In addition to the rights to purchase goods and services, security tokens often allow their holders to receive dividends, as well as ordinary securities.
The new exchange is expected to be launched in the first half of 2019. Under the agreement, Bithumb will provide investments and necessary technical support.
"SeriesOne actively sought an agreement with Bithumb, recognizing us as the most suitable partner. Bithumb will make further efforts to turn into a global financial company, waiting for the development of asset tokenization using the blockchain," the representative of Bithumb said.
SeriesOne was founded in 2013 and has permission from the U.S. exchange and securities Commission (SEC) to conduct crowdfunding campaigns.
As CoinDesk clarifies with reference to the received press release, the launch of the platform will be possible only after obtaining the appropriate approval from the SEC and the financial institutions regulatory Agency (FINRA).
"I believe that our companies will be able to create a unique product not only in the field of tokenization of large assets, but also create liquidity through a regulated exchange for trading tokens," said Michael Mildenberger, CEO of seriesOne.
As part of the agreement between the two companies, Bithumb also invests in the South Korean division of seriesOne.
We will remind, in October the exchange Bithumb launched decentralized marketplace. The developer of the Protocol was the company One Root Network.