Ontario Securities Commission Allows Security Token Startup Test

 
 
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TALLINN, Estonia - Nov. 15, 2019 - PRLog -- The OSC (Ontario Securities Commission) has permitted security token startup TokenGX to conduct testing of secondary trading market exchanging of digital securities, which lead them to become the first to receive an genuine endorsement from the OSC.

TokenGX is the TokenFunder's partner company. TokenFunder is a startup that helps other companies in raising funds by means of token trades. The said trading will help TokenFunder to administrate liquidity for venture capitalists. TokenGX and TokenFunder operate on the etherium blockchain making initial token offerings and secondary market trading dealings perceptible for everyone.

Last October 2017, the OSC permitted TokenFunder's Initial Token Offering and offered startup assistance from a dealer registration requirement paving the way for the offering of its FNDR tokens. Also, in April 2019 TokenGX turns out to be a free market dealer that operated its' primary distribution platform in different places such as; Alberta, British Columbia, Ontario, and Quebec and now it is trying to acquire endorsement in other jurisdictions to operate the secondary market.

FNDR tokens can be exchanged on the secondary platform, as can token distributed by not more than ten Ontario-based issuers that have just issued tokens with TokenGX. These issuers' financial records must be consistently audited by TokenGX as part of the test.

TokenGX established a platform for secondary trading called FreedomX. It would be exclusive for Ontario's sellers and purchasers that have been listed as venture capitalists that underwent the TokenGX's KYC (Know Your Client) procedures. The platform is offered to qualified and retail investors however, trades for retail investors should not go beyond 2,500 US dollars. Participants on the platform are able to generate new orders and exchange is implemented by smart contracts subsequently after the traders created the trade over an order book interface.

Venture capitalist' payment for the exchange is in settlement balance tokens in lieu of fiat currency. TokenGX purchases and deals with the tokens at a fixed price of one Canadian Dollar. The settlement balance tokens cannot be shared outside of TokenGX's system and can be assimilated through the transfer of funds to the client's trust account held by a Canadian regulator.

For more information, please visit us at https://fiatxs.com/

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Tags:Crypto
Industry:Business
Location:Tallinn - Tallinn - Estonia
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