Currency.com has announced the public launch of what it calls the world’s first tokenized securities exchange, following a beta test in which more than 150,000 people traded tokenized securities with cryptocurrency.
According to a press release, the public launch makes 1,000 tokenized securities available to both private and institutional investors around the world. The exchange works by tracking the underlying price of equities, commodities and indices. For example, users could buy a token that tracks with the performance of Apple on the Nasdaq, reflecting the same economic costs and benefits of a share of the company, according to a release from Currency.com.
Currency.com has expanded trading for tokenized securities listed on the Hong Kong Stock Exchange — for example Tencent, China Mobile and HSBC.
The launch includes a new mobile app, which gives crypto traders a series of tools that the company says have been available previously only to traditional investors, including 50% margin closeouts and selling at a loss.
“The arrival of tokenized securities will completely change how investors can use their cryptocurrencies,” Currency.com CEO Ian Gowansaid in the release. “Linking crypto to the price of stocks and shares provides a tangible way for holders of bitcoin and Ethereum to access traditional financial markets.”
He said the company’s beta launch proved that there is an appetite for this kind of exchange and that the full launch marks a “significant shift” in the direction of crypto as its becomes more regulated.
More than $26 million a month has been traded on the platform, the company said. Currency.com said it leverages the technology of Capital.com, its sister platform, which is regulated by the FCA and CySec.
The company is backed by VP Capital and Lamabel Ventures. CEO Gowan spent 15 years leading technology at IG, a trading platform that grew from $250 million to $3 billion.