Bithumb aims at the US market
Bithumb aims at the US market
Crypto

Bithumb aims at the US market

By Fabio Lugano - 2 Nov 2018

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Korean exchange Bithumb has reached an agreement with Fintech USA SeriesOne to launch an exchange dedicated to security tokens, i.e. those representing shares or other property rights.

The news, spread by the daily Yonhap News, includes the acquisition of SeriesOne‘s skills and experience in asset tokenization and crowdfunding to help Bithumb become a global financialisation company.

The expectation of both companies is that asset tokenization will become a global business in the coming years, so it is a mutual interest to be prepared for change.

With security tokens, there is a direct link between ordinary finance and cryptocurrencies, due to the fact that securities which are normally traded on stock exchanges or commodity exchanges can be transformed into digital tokens and exchanged on trading platforms, thanks to smart contracts that regulate the procedure and performance.

According to the sources, the development of this exchange should take place in the first half of 2019. While SeriesOne should bring specific know-how, Bithumb would provide the administrative structures and, above all, the financial resources.

Bithumb is also planning to launch a decentralised global exchange in collaboration with One Root Network (RNT).

In this case, a particular protocol (R1) is used, which has the function of separating the process of combining orders with their execution, so as to make the whole process more secure.

Bithumb isn’t the only one interested in security tokens, other large exchanges, such as OKEx and also the Indiegogo crowdfunding website are planning to offer a platform for ICOs.

Fabio Lugano
Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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