Tokenized Securities Exchange Currency.com Launches to the Public
Belarus-based exchange Currency.com has left beta mode to offer trading and investment in 1,000 tokenized securities.
Belarus-based tokenized securities exchange Currency.com has announced it is launching to the public today after a spell in beta mode since January.
Currency.com has also launched an app for both iOS and Android allowing users to access the exchange on the go. Other features added for the launch include 50 percent margin close outs and selling at loss.
Ivan Gowan, CEO of Currency.com, said:
The exchange says it has 1,000 tokenized securities on offer to investors worldwide (with the exclusion of those in the U.S. and on the Financial Action Task Force's blacklist of high-risk nations). Its U.K. Financial Conduct Authority and Cyprus Securities and Exchange Commission-regulated sister firm Capital.com provides the underlying technology of the platform.
The exchange explained in the announcement that its tokenized products track the underlying market price of "common financial instruments, such as global equities, indices and commodities."
"For example, users can buy a token that mirrors the performance of an Apple share on the Nasdaq ... at the same economic costs and benefits of an Apple share," it explained.
According to a piece in TechCrunch, Currency.com has also today launched a tokenized Belarus government bond, with plans to add more government and corporate bonds going forward.
The firm has previously said it's a fully compliant blockchain businesses under Belarusian law and follows anti-money laundering and know-your-customer rules, as well as the EU's General Data Protection Regulations.
Interface image via Currency.com
As per the announcement, Currency.com is already trading over $20 million monthly, with 5,000 users having successfully registered for the beta announced on Jan. 15.
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The platform may be the first to launch for trading in tokenized securities with cryptos as payment, but Gibraltar Stock Exchange announced that it would list tokenized stocks in early April. The Singapore Exchange said last summer that it was also planning a similar platform, while the Swiss SIX exchange has its in development already.
Currency photo by Keegan Houser on Unsplash