Top 4 Security Tokens News – Weekly Digest (6 – 12 May)

Bitfinex announced launch of Security Token Exchange

Bitfinex issued a paper where the company announced its own IEO (Initial Exchange Offering) of LEO Tokens. But not only that was notable, but their promise to launch new exchange for security tokens:

This venture will introduce an exchange platform combining the existing securities market with the distributed ledger technology ecosystem, under the regulations emerging from some of the world’s most important financial hubs. Through the digitization of securities, the exchange will be designed to bring liquidity and transferability to assets. It will allow wider investor audiences to partake in previously inaccessible opportunities and brings wholly new assets to market. This exchange will only be available to customers permitted under applicable regulations and will not be available to U.S. customers. Source

Smartlands Releases Fully-Compliant Stellar (XLM) Wallet For On-Chain Security Token Trading

One of the platforms that have been established for crowdfunding investments through the issuance of security tokens, the Smartlands has just gone ahead to announce their new deployment of a Stellar Wallet, one that has been designed for security tokens for the on-chain trading. Source

MERJ Gets Green Light To Open Security Token Exchange In Seychelles

MERJ is currently the only licensed securities exchange in Seychelles. Going live in August 2013, the MERJ exchange now has some 24 listed securities on its three equities board. In total, the assets share a market capitalization of $259M. However, MERJ is set for another expansion. The exchange will soon be offering security tokens, one of the few platforms in the entire world to legally do so. Source

SocGen Introduces Crypto to a $2 Trillion Market

A bond market as old as capitalism itself has emerged as the latest proving ground for cryptocurrencies.

A unit of Societe Generale SA sold 100 million euros ($112 million) of covered bonds – debt backed by mortgages – in the form of digital tokens with the French bank as the only buyer. The idea of last month’s pilot issue conceived by what the bank called an internal startup was to test how the technology behind virtual currencies can be used to cut costs and speed settlement for the securities.

While traditional finance firms have been reluctant to embrace the futuristic currency, evangelists expect the use of security tokens, virtual representations of assets like real estate and stocks, to boom. They could grow into a $24 trillion asset class in the next decade, according to Finoa, a digital-asset firm in Berlin. Source

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