Bittrex, one of the most important exchanges in the ecosystem, announced an association with an alternative trading system (ATS) regulated to finally launch the negotiation of cryptographic values, according to a statement issued on August 23.
According to the document, the exchange stated that it is working with Rialto Trading, a company dedicated to the distribution of negotiation tools for fixed income markets, with the objective of acquiring regulatory approval to support blockchain-based securities.
In this sense, if they obtain regulatory permission, Rialto intends to issue an "integral" offer of securities, which would include in the same package advisory services for issue, placement, negotiation and custody. For the project, the company will use its ATS and the tools that are provided by Rialto to support existing offers with Bittrex blockchain instruments.
The launch adds that the ATS will support the trade of US dollars. for digital values.
Bill Shihara, CEO of Bittrex, stated :
"A unique combination of advanced technology and financial expertise is needed to build and launch an efficient, reliable and secure platform to negotiate digital securities."
In addition, the general manager of Rialto Trading said that the association will give the possibility of access to a more extensive market for customers of your company.
"By working together, we will be able to expand our current customer offerings so that they not only include digital assets, but we also provide them with access to a reliable and globally advanced trading platform."
Following this same line, Shihara went on to say that "the new company is well positioned to move forward in adopting Blockchain by offering a comprehensive solution at the right time."
The measure adopted by the exchange with headquarters in the United States causes the company to reach a similar position in terms of marketing to that of Coinbase, which announced in June that it was working to become a stockbroker regulated by the federal government and the relevant institutions.
At that time, Coinbase also revealed in a blog post that they were carrying out the procedures to obtain a broker license, an alternative trading system and a registered investment advisor license.
If granted such licenses, Coinbase plans to seek approval from the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority to offer blockchain-based values such as cryptocurrencies.
As part of the plan, Coinbase is moving to acquire several regulated companies such as Keystone Capital Corp., Venovate Marketplace and Digital Wealth LLC, to facilitate the licensing process.
Source: CoinDesk