It has just been announced that educational platform Nugget’s News will be partnering with token issuer Koncrete to create the first platform for STOs in Australia.
Australia has been awfully quiet in the security token industry. Although the country has been the site of multiple experiments relating to blockchain, including by the World Bank, and notable fintech experts, the country still lacks a native STO sector. This, however, will soon be changing.
Nugget’s News has partnered with Melbourne-based Konkrete to launch a regulated, end-to-end security tokenization platform and exchange. The goal is to make this new exchange the go-to destination for Australians looking to launch their own STOs in a fully-compliant manner.
Nugget’s News and Koncrete are both trying to create a solution that will cover the many stages of token issuings. These security token issuings may be based on real estate, company equity, investment funds, and many other assets.
Clients working with the new STO exchange can expect a whole host of perks which includes assistance with the tokenization process itself, legal compliance concerns, and much more.
“Nugget’s News has long been helping Australian blockchain-based startups reach their potential. As the industry and its regulations continue evolving, it is great to be able to join forces with a team as diligent and experienced as Konkrete to know we are launching securities in a fully compliant fashion,” Alex Saunders the CEO and Founder of Nugget’s News said in a statement.
The news looks promising for a sector of the cryptocurrency world which is just starting to concretely take root in Australia.