Lykke Blockchain Exchange and Nxchange To Establish A Tokenized Securities Trading Platform
Lykke Teams Up With Nxchange To Establish A Tokenized Securities Exchange Platform
On October 5, Lykke announced through their Twitter account that they were partnering Nxchange to launch a tokenized securities exchange. Lykke is a Swiss exchange platform whereas Nxchange is a regulated securities exchange based in the Netherlands. The tweet concluded by revealing that all assets and securities can now be tokenized.
The role of Lykke in this partnership will be the provision of capital, blockchain platform and financial engineering expertise. On the other hand, Nxchange will take care of compliance by ensuring that all transactions are conducted in accordance with the law. The resultant platform will ease the process of tokenizing securities. As a result, businesses will have access to a larger investor market while investors will have access to an array of financial assets. Moreover, there will be a Lykke Nxchange wallet to allow users to easily manage their assets from anywhere across the world.
As compared to conventional modes of exchange, blockchain-driven transactions are faster, cheaper, more reliable and safer. The collaboration between Lykke and Nxchange is expected to provide tools to investors that enable them to have full control over their investments.
As mentioned earlier, this partnership will support the tokenization of all types of assets and securities. This includes equities, bonds, and loans and so on. Furthermore, all these investments will be traded on a blockchain ecosystem that is compliant and regulated. Thanks to the implementation of smart contracts, users will have access to dividends and the right to vote.
Recently, Nxchange partnered with ABN Amro clearing bank to develop a blockchain-based bank account that supports the instant settlement of transactions in fiat money.
Regarding the partnership between Lykke and Nxchange, Richard Olsen, the founder of Lykke, said that,
“The agreement is a significant step in the attainment of the companies' vision of establishing equity in the global finance sector. He reiterated on the importance of regulation and compliance on the crypto sector, especially now that the adoption of cryptocurrencies is growing.”
Lastly, Marleen Evertsz, the CEO and founder of Nxchange, said that,
“Capital market transactions need to be transformed by the deployment of blockchain technology. This is because blockchain-driven trades are efficient, available throughout, transparent, legally compliant and secure.”
Marleen concluded by lauding Lykke and saying that he was looking forward to building a next-gen stock exchange platform.