Bithumb To Be Involved In Security Token Exchange Launch In The U.S

South Korea’s largest cryptocurrency exchange Bithumb is reportedly planning to set up a security token exchange in the U.S. together with a U.S fintech firm.

Sources revealed that Bithumb recently struck a deal with U.S-based fintech company called SeriesOne. The deal will allow the South Korean crypto exchange to offer technical support that will be vital in the security token exchange launch. Bithumb will also benefit from the launch by leveraging the investment opportunities that will be provided as part of the agreement.

Security tokens are rapidly taking over the markets and

Security tokens are becoming more popular because they are the digital and blockchain-based form of securities. This means that they have similar characteristics to regular stocks such as dividends. They also offer significant advantages over stocks such as the ease of investment and accessibility. Many believe that securities tokens are the future of financial markets.

“SeriesOne actively sought to strike a deal with Bithumb after assessing it as the most suitable partner,” a Bithumb official revealed.

The Bithumb official also revealed that the company is working towards growing into a global financial company. Asset tokenization is expected to take off globally and the South Korean exchange plans to ride on that trend. Sources also revealed that SeriesOne plans to roll out the planned security token exchange in the U.S within the first half of 2019. They also revealed that Bithumb will run the exchange.

SeriesOne is not so popular compared to some of the major fintech companies in the U.S. It was founded in 2013 and mainly focuses on security token offerings, blockchain, and crowdfunding but its strongholds are media content and real estate businesses.

SeriesOne has also been eying Bithum’s home market

SeriesOne has also been expanding its business in Asia and it recently set up a subsidiary in South Korea where it plans to issue security tokens. So it looks like the two companies are eyeing each other’s market. Meanwhile, Bithumb’s exposure in the U.S will not only allow it to gain more recognition and grow as an international brand, but it will also open up more financial opportunities.