Bithumb Exchange To Launch Security Tokens Platform In The US
Bithumb, the major Korean crypto exchange, started cooperation with a fintech company with a goal to launch a platform for trading security tokens. The launch of the new exchange is scheduled for 2019, Yonhap News reports, citing industry insiders.
The Bithumb’s partner is an American crowdfunding platform SeriesOne, which holds securities offerings along with cryptocurrency ICOs. The company also has a license from the US Securities and Exchange Commission (SEC), and has recently opened a branch in South Korea to issue its own security tokens.
SeriesOne aims to register a new exchange for trading security tokens in the US during the first half of the next year. Bithumb will provide technological support for the project and will also become the main investor and operator of the trading platform.
It is noted that SeriesOne was looking for cooperation with Bithumb, considering this Korean exchange the most suitable partner for the deal. In turn, Bithumb will try to establish itself as a global financial company since the world is already on the verge of global asset tokenization, the exchange representative told.
Security tokens, unlike other types of digital coins, work as securities and are used for investment. From these assets, the investor can receive dividends and interest, as they grow in value.
Recently, Bithumb has sold more than a third of its shares to the Singapore blockchain association, which operates in the field of medicine and plastic surgery. The deal cost $350 million, and experts estimated the whole Bithumb exchange at $880 million.