A blockchain firm founded in 2012 is making its shares tradable on a blockchain-based alternative trading platform for capital markets.
The blockchain oracle provider said that this will be the first time that its shares will be available on a regulated trading platform.
XY Labs, the blockchain company behind the XYO protocol, has announced that its Class A Common stock has begun trading on tZERO ATS, the alternative trading system subsidiary of the stock broker tZERO Group.
According to the blockchain oracle data provider, this is the first time that shareholders can access XY Labs shares on a regulated trading platform. Arie Trouw, the CEO of XY Labs, said that this offers several benefits for shareholders, including low trading fees and continuous liquidity.
tZERO ATS is a broker registered with the United States Securities and Exchanges Commission (SEC) and a member of the country’s Financial Industry Regulatory Authority and Securities Investor Protection Corporation. The firm uses smart contracts on the Ethereum blockchain and suggests digitally enhanced securities.
David Goone, the CEO of tZERO, said that their team looks forward to continuing their collaboration with XY Labs as they inflate their product aids. “[…]We strive to expand the digital securities trading on our platform by growing assets offered and the number of investors utilizing the platform,” Goone claimed.
In June, XY Labs reached a network of over 4 million nodes worldwide on its XYO protocol. In an ask-me-anything (AMA) session with Cointelegraph Markets Pro, Trouw said that the project uses blockchain to recall responses and provide transparency by linking supporting data using immutable hashes.
On Mar. 17,in the meantime, crypto wallet Exodus went public on the SEC-registered trading platform Securitize Markets, after raising $75 million. The wallet project’s Class A common stock, trading under the ticker symbol EXOD, will operate on the Algorand blockchain through common stock tokens.
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