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The blockchain startup based in Belarus Currency.com has launched a trading platform for tokenized securities.
On Tuesday, the company announced that the platform would allow investors to trade and invest directly in financial instruments using the bitcoin or ethereum cryptocurrencies, without first converting them into fiat.
The platform will initially host over 150 tokenised securities, monitoring the underlying market price of financial instruments such as stocks and commodities, while over 10,000 similar offers may be available in the future.
Currency.com explained that the service allows investors to buy a token that reflects the performance of, for example, an Apple share on the Nasdaq stock exchange, to "the same costs and economic benefits as an Apple share".
"To offer these capabilities, Currency.com leverages the technology of Capital.com, its sister platform regulated by the FCA [U.K. Financial Conduct Authority] and CySEC [Cyprus Securities and Exchange Commission], to give users access to a tokenised version of a contract for the exchange of a specific equity, commodity or index, "said the company.
Currency.com said it is "fully compliant" with "Decree n. 8 on the development of the digital economy"Of the President of the Republic of Belarus, which legalizes the blockchain activities, adding following the anti-money laundering rules (AML) and know-your-customer (KYC), in addition to the General Data Protection Regulations (GDPR).
The platform's mobile trading apps, both iOS and Android, should be available in beta from February.
This is not the first platform to allow the trading of tokenized securities. At the beginning of this month, the startup encrypted in Estonia DX.Exchange has launched a trading platform that allows customers to purchase encrypted tokens that represent shares of several technology companies listed on the Nasdaq. DX.Exchange customers will be able to use the selected cryptocurrencies and legal currencies to purchase tokens.
Image of the trading screen via Shutterstock
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