New platform enables regulatory approved trading of any asset class any time
Jun 19, 2018, 02:12 ET
NEW 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 issuance 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."
Delaware Board of Trade Holdings, Inc. (DBOT) operates a FINRA regulated, fully electronic auto-execution ATS (Alternative Trading System). DBOT brings the best practices of exchanges the small cap equity marketplace; promoting capital growth, investor confidence, liquidity, security, and transparency. DBOT is a marketplace that serves issuers, investors, investment banks, market makers, and brokers. DBOT offers three marketplaces: PRIME for SEC qualified securities not listed on the exchange, INTERNATIONAL for global companies seeking access to US markets, and VENTURE for REG A+ companies and IPOs.
About Fundamental Interactions
Rising to challenges and opportunities posed by regulation, technology, and market structure shifts – Fundamental Interactions develops leading enterprise market center technology platforms. The systems are widely deployed by securities exchanges, ATS, and inter-dealer brokers across a variety of asset classes and geographic regions.
Established by a group of experienced financial services professionals, technologists and entrepreneurs, Y2X specializes in regulated token issuances and innovative capital raising mechanisms. The company's name was derived from Moore's Law, Y=2x, and signifies its dedication to the law of accelerating returns. Headquartered in New York City, the mission of Y2X is to be the leading technology driven platform that identifies, finances, and incubates the next generation of transformative ideas and businesses globally. Learn more about Y2X at: www.y2x.io