Bithumb enters the US market via a security token platform
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Answer Bithumb enters the US market via a security token platform
Today, South Korean platform Bithumb and US fintech company seriesOne have set up a joint venture to create a dedicated security token platform compliant with US regulations.
Bithumb will provide the investment, technical support, and operation of the platform. Additionally, this will help set up a single chain entity and a subsidiary in South Korea to “expand technical development and marketing.”
The US fintech company (seriesOne) has operated a crowdfunding portal for businesses and entrepreneurs since 2013. In March 2018, the company created its new funding portal, which focuses on matching companies and investors and raising capital through equity and initial coin offerings (ICOs). ).
It is currently in the midst of fundraising prior to the IPO, for example planning to list on the Nasdaq Stock Exchange in 2019.Read:Find out the possible reasons behind Bitcoin’s drop to its lowest level in 3 months!
US SeriesOne’s current platform provides “Security Token Offerings” that operate under SEC exemptions. With the partnership, the companies say they are “well-positioned to enforce on a global exchange that operates in compliance under US securities laws.”
A Bithumb official told Korea’s Yonhap News Agency that SeriesOne has sought the partnership. Pak Yong-hyo, CEO of Bithumb, said of the US fintech company:
“We are not only impressed by the mix of innovations in investment banking, compliance, and the technology of the seriesOne team, but also note their deep understanding of SEC regulations and how they apply to investment methods.”Read:Trading volumes on the decentralized trading platform (DEX) set new records
It is noteworthy that the Korean “Bithumb” platform witnessed an increase in trading volumes 24 hours a day. The platform’s profits for the first half of 2018 were recorded at $175 million.
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