For the first time, a fiat-to-crypto exchange will support the trading of security tokens. DX.Exchange, based in Europe, has taken the title of being the world’s first exchange to allow accredited,non-U.S. investors to trade security tokens.
Recently, we reported on Perlin partnering with DX.Exchange to bring tokenized stocks to the masses. The story made the rounds because of the novel idea: tokenizing common stocks of Apple and Tesla to bring them to a greater market.
Now, the EU-regulated exchange is expanding their horizons to security tokens. Boasting one of the first live trading interfaces for security tokens in the world, the news sent ripples throughout the crypto space. Security tokens are coming.
Security Tokens Now Tradeable
Most trading of security tokens today is done OTC. What this means is that many traders don’t have many direct options for trading.
DX.Exchange’s CEO and co-founder Daniel Skowronski commented on the news saying:
“The market has been talking about security tokens for over a year, but unfortunately, there hasn’t been much progress…We believe all financial assets will be tokenized in time”
The exchange is completely compliant under European regulations with help of MPS MarketPlace Securities, which is the middleman. Currently, only pre-registered users can use the exchange and KYC measures are required.
This news comes at a time when European countries are changing their regulatory frameworks to incorporate security tokens and crypto-assets more generally. While this is good news, it’s still only the beginning.
What do you think about DX.Exchange? Do you plan on trading on it? Let us know your thoughts in the comments.
Image courtesy of DX.Exchange.