Securitize will buy out DTM broker for trading stock tokens

Securitize, specializing in the release of tokens-promotions, will redeem the DTM broker, to become an alternative system for secondary trading digital assets.

Securitize management has already signed a contract of sale with Distributed Technology Markets (DTM), registered in the US Securities and Exchange Commission (SEC). Besides, DTM received the approval of the agency to regulate the activities of financial institutions (FINRA). 

Within the framework of the contract, Securitize will also be transferred to the DTM Velocity Markets branch. He provides payment services, and also performs the converting of currencies and money transfers, Having a license to carry out this activity in several states.

Acquisition conditions are not disclosed. Securitize management expects the permission of the regulatory authorities to conduct a transaction. CARLOS DOMINGO Director General (Carlos Domingo) reported, that it intends to create a platform for secondary trade in non -emission securities, Therefore, the acquisition of DTM will be the most optimal way for the implementation of this idea.

Domingo explained, that is not interested in creating his own site. He managed to chat with the owners more 40 companies, working with tokenized securities, And it turned out, that many projects were forced to “curl up” due to the lack of clear regulation of the cryptocurrency industry in the country.

Besides, In April, the platform for the trading of Openfinance incidents warned, What can delustrate all tokens and suspend trade, If the issuers of tokens do not cover part of the expenses. Therefore, Domingo considers, that the chances of creating your own site for secondary trading digital securities and its trouble -free existence are small.

Recall, that earlier the startup Securitize has launched the Instant Access service, with which retail investors can trade tokens-joints on the Ethereum network.

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