Currency.com is the next big exchange that wants to enable the trade with security tokens. According to the exchange’s whitepaper, its users will be able to trade up 1000 different securities on the exchange. Currency.com claims to launch the “first global tokenised [sic] securities platform”. Or at least “the first European regulated tokenised [sic] security exchange”.
Technically Not The First ST Exchange
However, both of the statements are technically not true. The first exchange ever to enable security token trades was Openfinance.io. Some other exchanges followed, most of which are unregulated. Still, Currency.com cannot claim to be the first tokenized security exchange. Even in Europe, the Gibraltar Stock Exchange launched in April already. What is surprising about this statement is that Currency.com knows about this state of affairs and still makes this bold claim.
How Currency.Com Upholds Its Claims
The exchange upholds these claims by stating that the already existing exchanges do not encompass the variety of security tokens that Currency.com already does. However, there is currently no common definition for the different types of security tokens and it is hard to prove or disprove Currency.com’s claim in an instance. Another questionable finding while reading the whitepaper is the fact that Currency.com claims to be regulated and dedicated to decentralization as well. Another major point that is open to interpretation.
If Currency.com can live up to its claims remains to be seen.