On June 17, Paul Grewal, chief legal officer of a trading platform, revealed that it is actively applying for a no-objection letter or waiver license from the SEC to launch a traditional blockchain-based stock trading service. Tokenized shares will be able to achieve T+0 settlement, 24/7 trading, and beyond, but US investors are still prohibited from participating at this time. The move will directly challenge traditional brokerages such as Robinhood and Charles Schwab, whose rival platform has launched xStocks in Europe, Asia and Africa, with more than 50 tokenized stocks and ETFs.
A certain platform is continuing to expand its non-cryptocurrency asset landscape following the launch of the American Express co-branded credit card and the USDC payment collaboration with Shopify/Stripe last week. In 2021, when attempting an IPO, it tried to issue tokenized COIN stocks but was rejected by the SEC. The platform was sued by the SEC in 2023 for not being registered, and the lawsuit was withdrawn earlier this year, but it still has not obtained a broker-dealer license.
If the application of a trading platform is approved, it will break down the liquidity barriers between the traditional equity market and the crypto market, and may accelerate the SEC's formulation of the "Security Token Classification Guidelines".
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PerpetualLonger
· 19h ago
Full Position go long才能赚大钱 意志坚定increase the positioning
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ForkMonger
· 23h ago
playing 4d chess while sec plays checkers tbh
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MoneyBurnerSociety
· 23h ago
There is a new way to play people for suckers again. Steady losses without gains is what I do.
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GasFeeThunder
· 23h ago
The gas is too high, and the settlement cost is eating into the profits. Let's wait a bit longer.
Reply0
LiquidityWizard
· 23h ago
theoretically speaking, 99.7% chance SEC kills this before launch... *sips coffee*
Reply0
BrokenDAO
· 23h ago
The classic regulatory game trap: first encircle the area, then distribute the cards.
A trading platform applied to launch a blockchain stock trading service to challenge traditional brokers
On June 17, Paul Grewal, chief legal officer of a trading platform, revealed that it is actively applying for a no-objection letter or waiver license from the SEC to launch a traditional blockchain-based stock trading service. Tokenized shares will be able to achieve T+0 settlement, 24/7 trading, and beyond, but US investors are still prohibited from participating at this time. The move will directly challenge traditional brokerages such as Robinhood and Charles Schwab, whose rival platform has launched xStocks in Europe, Asia and Africa, with more than 50 tokenized stocks and ETFs.
A certain platform is continuing to expand its non-cryptocurrency asset landscape following the launch of the American Express co-branded credit card and the USDC payment collaboration with Shopify/Stripe last week. In 2021, when attempting an IPO, it tried to issue tokenized COIN stocks but was rejected by the SEC. The platform was sued by the SEC in 2023 for not being registered, and the lawsuit was withdrawn earlier this year, but it still has not obtained a broker-dealer license.
If the application of a trading platform is approved, it will break down the liquidity barriers between the traditional equity market and the crypto market, and may accelerate the SEC's formulation of the "Security Token Classification Guidelines".