Belarus Launches Currency.com, The World’s First Tokenized Securities Trading Platform
On Tuesday, January 15, Belarus launched the world’s first tokenized securities trading platform - Currency.com - allowing investors to trade and invest in real-world financial instruments using digital tokens.
The new trading platform will issue over 10,000 tokenized securities backing financial instruments like equities, gold, and other traditional assets. This means that the shares of public listed companies can be traded in form of tokenized securities with same economic costs and benefits.
Users can purchased the tokenized securities on Currency.com against cryptocurrencies like Bitcoin and Ethereum. The trading platform will leverage the technology of its sister concern - Capital.com - that is regulated by the FCA and CySEC.
Ivan Gowan, CEO of Currency.com, said, "We are excited to be launching this revolutionary blockchain venture and providing crypto investors with a concrete option to diversify their portfolio by investing in traditional asset classes, without the pressure of exchanging cryptocurrencies into fiat money to do so. Currency.com is committed to providing users with superior security and fraud protection, and preventing any potential risks by leveraging the full traceability of blockchain transactions and adhering to the strictest regulatory standards set by Belarus' Decree No. 8 'On the Development of a Digital Economy."
The Decree No. 8 legalizes businesses operating in the crypto sphere across different horizons including operations related to mining, trading, selling of digital tokens through ICOs, and transfer of digital assets. Furthermore, the Decree also mandates businesses to implement strict Anti-Money Laundering (AML) and Know Your Customer (KYC) laws providing the customers security to the levels of General Data Protection Regulations (GDPR).
The tokenized securities platform has developed its robust in-house compliance mechanism while ensuring that client deposits are protected by advanced security measures. The platform will onboard new users gradually as its services scale further. Currency.com also plans to introduce a referral program wherein the traders will receive invitations codes and share it further with friends.
The company will soon start beta testing the iOS and Android applications in February 2019.
"Currency.com will disrupt and revolutionize financial technology on a large scale," said Viktor Prokopenya, Founder and CEO of VP Capital. "Access to global financial markets has historically been available through one primary medium – the stock exchange – but Currency.com leverages groundbreaking cryptocurrency technology to create opportunity for investors who might not have access to traditional stock markets otherwise.”