BnkToTheFuture and Altcoin.io to Break New Grounds in the Security Token Exchange Market
The cryptocurrency and blockchain industry has seen quite a few collaborations, partnerships and outright mergers in recent times.
More firms are constantly looking for ways to either optimise their processes or make new additions to their core business, giving them the opportunity to expand and also offer new services. In the same spirit of mergers and partnerships, a new collaborative effort between Altcoin.io and BnkToTheFuture has just been announced.
According to the announcement made by Altcoin.io – a decentralized exchange (DEX) with peer-to-peer solutions – BnkToTheFuture, a popular investment firm, has procured the former’s technology that seeks to create a platform predicated on compliance which will allow investors to easily trade security tokens and still let them hold their own funds.
Andrew Gazdecki the CEO of Altcoin.io, expressed enthusiasm at the new development, speaking optimistically about BnkToTheFuture’s goal. He said:
“We couldn’t be more excited for BnkToTheFuture to pick up where we’re leaving off given their experience within the digital asset industry as well as their vision of tokenizing the world’s capital markets.”
BnkToTheFuture plans to take advantage of the growth in the security tokens markets using technological advancements and expertise from Altcoin.io.
However, the regulation surrounding security tokens are somewhat tight and are often a source of controversy as many people disagree on many things. Regardless of all this, BnkToTheFuture’s Simon Dixon and Andrew Gazdecki both agree that it’s an interesting sector to expand on.
Speaking on this, Dixon said:
“Altcoin.io has an impressive list of technological achievements under their belt, but what set them apart was their commitment to working in tandem with this dynamic regulatory landscape. As the very first securities business operating within the crypto sector, we’re excited to expand upon our vision for the future of digital assets by acquiring Altcoin.io’s non-custodial trading technology.”
About the Companies
Altcoin.io saw a need for creating a decentralized exchange and began to work on this in 2017. The firm entered the market optimising and bringing new innovations in terms of customer privacy safety and transaction speed, making them popular within a short while.
Since its creation altcoin.io has successfully improved scalability by creating layer-2 solutions and applying Plasma and state channels. The Firm has also been known to build its team by recruiting some of the best brains for their platform.
BnkToTheFuture has also done a lot in terms of investment and has helped some of the biggest names in the crypto industry pulling in significant investments. Some of these names include Kraken, Ripple Labs, Shapeshift, Bitstamp, BitFinex, Circle and Coinbase.
Speaking on the need for improvement in the capital market, BnkToTheFuture’s Gazdecki said:
“Capital markets are long overdue for an upgrade. Much of it still relies on paper and outdated tech, so they’re slow and inefficient. Blockchain technology now presents an opportunity to fractionalize traditionally illiquid assets to democratize the market and remove barriers to entry.”
He went further to discuss additions made to their services saying:
“We’ve launched the BF Wallet, a security token wallet on iOS and Android, that allows investors to store their security tokens on their mobile device. We’ve been doing primary offerings in FinTech for nearly a decade. By acquiring Altcoin,io’s technology we’re ready to launch a non-custodial marketplace in 2020 where people can buy and sell security tokens integrated with the BnkToTheFuture Token (BFT).”
The market for security tokens is still relatively immature but Dixon and BnkToTheFuture are optimistic that it could be one of the biggest things in the near future.
As far back as 2010, Dixon predicted a disorder in the financial market and BnkToTheFuture has succeeded in raising investments worth $750 million for more than a few of these fintechs since then.