Today, March 14th, DX.Exchange launches its own security token that will be exchangeable on its platform.
The Estonian-based trading platform has announced this initiative at the Hong Kong Token 2049 conference, accompanied by the listing on the platform of third-party security tokens, which will be exchangeable for digital currencies such as BTC, ETH, XRP and Tether or fiat currencies.
However, the listed security tokens will not be accessible to all operators but, due to their characteristics as capital goods, they will be reserved only for institutional investors who are appropriately accredited on the platform.
This is because the security token is an expression of real rights over the capital of the exchange itself and must, therefore, be reserved for informed investors.
Alongside the listing of security tokens as a service, the platform also launches its own proprietary security token. This will be called IGWT, an acronym for the famous phrase printed on American banknotes, “In God We Trust”.
The sale of 18 million tokens, sold through a private sale, will increase the company’s financial resources. These tokens will receive a remuneration consisting of 10% of the profits of the exchange.
Even if DX.Exchange is a Peer to Peer platform, with the prospect of becoming decentralised as stated in its whitepaper, the exchange of the security tokens will involve a third counterparty to safeguard the actors, namely MPS Marketplace Securities, which will take care of the constant maintenance of liquidity.
DX.Exchange, although relatively new, uses the matching system of the Nasdaq stock exchange, which sponsors the initiative together with Bloomberg.