Currency.com, has recently launched a fully-functional regulated trading platform for tokenised securities, which allows investors to trade, invest in, and benefit from exposure to, real-world financial instruments by directly using cryptocurrencies.
The company also announced that it has received a Series A $8 million investment from Larnabel Ventures and VP Capital.
Ivan Gowan, CEO of Currency.com, said:
“We are excited to be launching this revolutionary blockchain venture and providing crypto investors with a concrete option to diversify their portfolio by investing in traditional asset classes, without the pressure of exchanging cryptocurrencies into fiat money to do so. Currency.com is committed to providing users with superior security and fraud protection, and preventing any potential risks by leveraging the full traceability of blockchain transactions and adhering to the strictest regulatory standards set by Belarus’ Decree No. 8 ‘On the Development of a Digital Economy.’”
“Currency.com will disrupt and revolutionize financial technology on a large scale,” said Viktor Prokopenya, Founder and CEO of VP Capital. “Access to global financial markets has historically been available through one primary medium – the stock exchange – but Currency.com leverages groundbreaking cryptocurrency technology to create opportunity for investors who might not have access to traditional stock markets otherwise. All this was made possible by the progressive Decree No. 8 ‘On the Development of a Digital Economy’ that was passed in Belarus. Belarus has become one of the most forward-looking countries when it comes to blockchain technologies and the first country in the world to create a dedicated legislative framework tailored to cryptocurrencies and their industry.”
Currency.com is accessible to all types of investors and will issue over 2,000 tokenized securities (starting with 200+), which will track the underlying market price of common financial instruments, such as global equities, indices and commodities. For instance, users will be able to buy a token that mirrors the performance of an Apple share on the Nasdaq – APPLE.CX – at the same economic costs and benefits of an Apple share. Users will be able to buy these tokens on Currency.com directly using Bitcoin (BTC) or Ethereum (ETH), and will have the ability to trade them on margin.
To offer these capabilities, Currency.com leverages the technology of Capital.com, its sister platform regulated by the FCA and CySEC, to offer users access to a tokenized version of a contract for exchange of a specific equity, commodity or index.
Currency.com is the first blockchain business to be licensed by the High Technology Park (HTP) in Belarus following the adoption of the Decree No. 8 ‘On the Development of a Digital Economy’. Decree No. 8 legalizes businesses based on the blockchain, providing a legal status for tokens and smart contracts and legalizing operations related to mining, keeping, buying, selling, distributing, or exchanging cryptocurrencies, such as exchange services, digital tokens, initial coin offerings and mining operations.
Currency.com is fully compliant with Decree No. 8 and implements best-in-class Anti-Money Laundering (AML) and Know Your Customer (KYC) laws and strict data and customer protection rules to the same level as the General Data Protection Regulations (GDPR). It has also developed robust in-house compliance mechanisms that ensure that all client deposits are protected by advanced security measures. This includes verification of all blockchain transactions by blockchain intelligence services such as Coinfirm, Elliptic and Chainanalysis.
The tokenized securities trading platform will be supplemented by a free platform for trading and exchanging cryptocurrencies using fiat money, storing holdings in a secure place and making cross-crypto exchanges; as well as Moonfolio, a free all-in-one cryptocurrency portfolio tracking app which allows users to build a diversified cryptocurrency portfolio from scratch.
Currency.com will be authorising new users on the platform gradually to ensure optimal functionality as the service scales. Users can apply to the wait list on the Currency.com online platform. or register with an invitation code which is provided by the company. The Currency.com iOS and Android apps will be available for beta testing [from February 2019].