DX Platform Opens Security Tokens Market
Estonian DX.Exchange launched security token trading and added STO listings, Cointelegraph reports.
Security tokens can now be purchased on the platform for fiat money as well as for the most liquid cryptocurrencies, including bitcoin, ether, Tether (USDT), and Ripple (XRP). However, traders will have to go through an additional level of verification under the KYC procedure, which is required by the EU legislation on financial instruments.
It is noted that the Estonia-based exchange will soon be reorganized into a new company called DXtech Exchange.
The first STO, which will be launched on the exchange to demonstrate the new service, will be the private offering of the IGWT token. Traders will be able to buy 18 million IGWTs during a limited time, after which the company promises to return them 10% of its profit from the token sale.
Supported by a major US stock exchange Nasdaq, the Estonian platform started operations in January 2019. Initially, it offered several trading pairs with fiat and digital currencies. According to earlier reports, the new exchange also sells tokenized shares of the largest global corporations, such as Apple and Amazon, which are listed on Nasdaq.
Besides, DX.Exchange began to offer tokenized ETFs in March.
There is also the DXCASH token in the listing of the exchange, which is traded for $1.9. Its logo resembles the symbol of DX.Exchange. This is presumably the platform’s internal cryptocurrency, but there is no information about the token on the website. The coin is not listed on CoinMarketCap either.
As previously reported, a regulated cryptocurrency ecosystem will appear in Europe.