TMCnet News
Delaware Board of Trade, Fundamental Interactions and Y2X create Velocity Ledger, a Platform for Asset Digitization and Trading on the BlockchainNEW YORK, June 19, 2018 /PRNewswire/ -- Delaware Board of Trade (DBOT), Fundamental Interactions, and Y2X announced today the formation of an end-to-end service to digitize and trade multiple asset classes including securities tokens, debt instruments, real estate, art, and intellectual property rights. Known as Velocity Ledger, the system utilizes leading-edge blockchain-based technology already approved for trading by the SEC and FINRA. Initial products at launch include U.S. securities tokens and real estate. Todd Morley, Y2X Co-Founder, said, "We are creating the Operating System of the new digital marketplace. We are excited to provide regulated marketplaces for assets that until today have been illiquid and untradable. This will bring the benefits of blockchain technology and cryptocurrency to all investors in an efficient, effective way, with enormous benefits for capital formation as well as for asset management." Digital currencies are emerging as a new global asset class, and Y2X is at the center of utilizing its capabilities both to raise capital for new enterprises and to enable individuals to invest in high-growth companies more efficiently and effectively. Fundamental Interactions has established blockchain technologies, including smart contracting features embedded in securities tokens, which will be at the center of this service offering. Through a well established network of broker-dealers, market makers, market data providers, and deep relationships with the traditional banking system and cryptocurrency network, the alliance will provide end-to-end processes, including creation of tokens eligible for isuance and trading on multiple marketplaces. In addition to the DBOT equities venue, which is already in operation as an SEC-regulated ATS, the parties have agreed to establish and fund Velocity Ledger, a marketplace for real estate, fixed income, OTC cryptocurrency, and other asset classes. Y2X has a pipeline of companies preparing to launch securities token offerings, which will be listed and traded on the system. Shawn Sloves, CEO of Fundamental Interactions, added, "Fundamental Interactions' tested technology is already in use at multiple cryptocurrency and traditional exchanges. Our new standards for tokenization and blockchain-based settlements will ensure these innovative new products can be traded and settled globally." "DBOT was established to create markets for innovative new products like unlisted securities," commented DBOT Chairman John Wallace. "With our connectivity to over 200 broker-dealers, as well as market makers and data providers, we are confident we can bring liquidity to this rapidly-growing space in a well-regulated marketplace."
About DBOT: About Fundamental Interactions: About Y2X :
View original content with multimedia:http://www.prnewswire.com/news-releases/delaware-board-of-trade-fundamental-interactions-and-y2x-create-velocity-ledger-a-platform-for-asset-digitization-and-trading-on-the-blockchain-300668823.html SOURCE Y2X |