VNX Exchange, NEM Partner to Develop Security Token Standards on NEM Blockchain

 In Altcoins, Exchanges, Governments and Regulations

VNX Exchange, a security token-oriented trading platform operator, partnered with blockchain platform NEM to develop standards for security tokens.

Luxembourg-based VNX Exchange, a trading platform focused on tokenized venture capital assets, announced on Monday that it would work with blockchain platform creator NEM, which is also the entity behind XEM coin. According to the agreement, VNX and NEM will generate protocols and standards for security tokens on the NEM blockchain. The protocols will be valid through the entire life cycle of security tokens.

VNX wants to help regular investors avoid financial barriers. It also intends to make venture capital as an asset class appropriate for a much larger group of investors, which would also incorporate those who previously couldn’t invest in VC.

On the other side, NEM is an established blockchain platform that was coded from scratch with scaling and high-speed transactions in mind. It provides permissioned and private blockchain solutions aimed at enterprises. NEM also offers an open and public blockchain that applies a unique consensus approach, which ensures the network’s expansion without affecting its stability and throughput.

VNX founder and CEO Alexander Tkachenko commented:

“Our partnership with NEM and the opportunities it introduces for the security token ecosystem worldwide are extremely encouraging. We believe that tokenized assets are the future of capital markets, and that blockchain offers tremendous opportunities to improve how financial markets, especially private ones, operate.”

Kristof Van de Reck, Interim President of NEM.io Foundation, stated:

“I’m happy to see projects like VNX that are bridging the gap between the mainstream financial industry and the crypto-economy.”

“This partnership gives us the ability to learn more about regulatory compliance specific to our technology, and ensures NEM remains at the tip of the spear with regards to security token offering. We also look forward to growing NEM’s ecosystem by leveraging VNX’s platform,” he added.

VNX and NEM are currently working to create a liquidity program to incentivize venture capital funds that are betting on startups within the NEM ecosystem. Thus, VC funds will have the opportunity to take part in initial security token offerings (STOs) through the VNX platform. Also, XEM will become one of the supported cryptocurrencies on the VNX platform.

Related Article:  Bitfinex Raises New Questions with Banking Solution

XEM, the 17th largest cryptocurrency according to Coinmarketcap data, is trading at $0.107, up 1.5% for the day as at 09:16 UTC.

Source link: Click here. Disclaimer:  This is a third-party article. The information on the Verified topics are provided on a strictly "as is," "where is" and "where available" basis. Verified topics expressly disclaim any implied warranties. Note Verified topics do not give any financial advice, for more information see our Acceptance of terms.

HOMEPAGE

Start typing and press Enter to search