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NewsBTC 2022-02-25 08:22:38

The Rise of Security Token Exchanges

Many countries are looking to dematerialize their financial markets, switching from physical to digital securities tracking using blockchain technology. For issuers, digital securities make global issuance cheaper and more efficient, while streaming business operations with smart contracts. On the investor’s side, digital securities grant access to a larger pool of investment opportunities while reducing settlement fees and times The Race to Become a Security Token Exchange Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), revealed digital currency exchange Bakkt in 2019 – “Bakkt” being a play on words for “backed”, or “asset-backed securities”. Bakkt’s focus is warming Wall Street to the idea of virtual currency trading and acting as a scalable crypto on-ramp. However, its development is still ongoing and is slated for completion in 2023. In Australia, the Australian Securities Exchange (ASX) teamed up with leaders in the cryptocurrency space to move its current exchange platform onto distributed ledger technology. Today, it offers distributed ledger technology as a service to clients, who enjoy the benefits of better data accessibility and smart contract-assisted optimized workflows. Asia and Canada, too, see traditional exchanges exploring the digital asset space. The Hong Kong Exchange and Clearing Limited (HKEX) recently launched Synapse, distributed ledger technology-assisted service that ...

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