Currency.com, a startup based in Belarus, has recently unveiled a trading platform for tokenized securities.
The company made public on Tuesday that the trading platform would let investors to invest and trade directly utilizing digital currencies such as bitcoin and ethereum, without making a conversion to fiat first.
Initially, the platform will host more than 150 tokenized securities, monitoring the underlying financial instruments’ market price such as equities and commodities. It said that more than 10,000 similar offerings may be available in the future.
According to Currency.com, the service allows investors to purchase a token that mirrors the performance of, for example, an Apple share on the Nasdaq exchange at the “same economic costs and benefits of 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 offer users access to a tokenized version of a contract for exchange of a specific equity, commodity or index,” the company said.
Currency.com pointed out that the exchange is “fully compliant” with the Republic of Belarus’ Presidential Decree No. 8 on Development of Digital Economy, a decree that legalizes blockchain businesses that comply with know-your-customer (KYC) and anti-money laundering (AML) rules, along with the General Data Protection Regulations (GDPR).
The iOS and Android beta versions of the mobile trading app of the platform will be available in February.
Currency.com is not the first platform to offer trading of tokenized securities. DX.Exchange, a crypto startup based in Estonia, launched a similar trading platform earlier this month. The platform lets customers buy crypto tokens that represent shares listed on Nasdaq, using select digital currencies or even fiat.