New Exchange Launched
It was recently announced that a new exchange, which supports the trading of digital securities, is launching within Belarus.
The launch of the exchange was met with a flurry of excitement, as thousands of traders submitted applications within hours of it opening.
Viktor Prokopenya spoke with Reuters on the launch, stating, “This is the first platform in the world where crypto investors will be able to diversify their investments into real assets.”
The exchange is said to support the buying and selling of various assets. These range from precious metals, to foreign exchange, cryptocurrencies, and of course digital securities.
While the exchange is said to support 150 tokens upon launch, this is only a jumping off point. The exchange expects to host thousands of various assets as it grows in time.
This broad offering of services is expected to help both investors and token issuers, as global funding becomes much easier.
Continuing his conversation with Reuters, Prokopenya commented, “We believe that this project will allow Belarusian companies to attract additional funding both domestically and externally…Because at the moment the stock market of Belarus is far from the state in which it should be.”
Who’s behind it?
There are two entities behind the creation of the exchange. Both are venture capital firms, which saw a need in the country, and are looking to capitalize on it.
This company labels itself as a ‘global investment vehicle focused on the technology sector’. The team is led by founder, Viktor Prokopenya, who created VP Capital in 2012.
Founded by the Gutseriev family in 2016, they function as a venture capital fund for the IT sector.
This exchange has many similarities to another which was recently launched – DX.Exchange. Based out of Estonia, DX.Exchange provides third party tokenization of publically listed companies such as Tesla and Apple.
While DX.Exchange had a rocky start following their launch, due to potential security lapses in their code, they have since remedied the situation. Check below to see a few of our articles detailing their first week of operation.
Unfortunately, since overcoming the rocky events of its launch, DX.Exchange has since been scrutinized by media outlets. Only time will tell as to whether this scrutiny holds credence.
An Emerging Trend
While these are the only two exchanges thus far to offer this unique take on digital securities, will a trend be formed?
Interestingly, each of these companies has commented on regulations, indicating that everything is on the level within their respective jurisdictions.
VP Capital founder, Viktor Prokopenya, stated in an interview with Reuters, “The standards that have been developed in Belarus are correct, they correspond to accepted international practices.”
With a population of under 10 million, Belarus, is a small country located within Europe. Belarus is a land-locked nation, surrounded by Poland, Lithuania, Latvia, Russia, and the Ukraine.
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