Delaware Board of Trade (DBOT), Fundamental Interactions, and Y2X Launch Asset Digitalisation and trading Platform, Velocity Ledger
NEW YORK, June 21, 2018 — Delaware Board of Trade (DBOT), Fundamental Interactions, and Y2X have teamed up to launch Velocity Ledger, an innovative end-to-end service to digitize and trade multiple asset classes including securities tokens, debt instruments, real estate, art, and intellectual property rights. The trio announced that the product would take on U.S. securities tokens and real estate at launch.
What The founders Think About It
For Y2X, Velocity Ledger is yet another opportunity to utilise its capabilities both to raise capital for new enterprises and to enable individuals to invest in high-growth companies more efficiently and effectively.
According to Todd Morley, Y2X Co-Founder, it will create the Operating System of the new digital marketplace to provide regulated marketplaces for assets that until today have been illiquid and untradable. He said it is expected that this product will bring the benefits of blockchain technology and cryptocurrency to all investors in an efficient, effective way, with enormous benefits for capital formation as well as for asset management.
On their part, Fundamental Interactions says it has established blockchain technologies, including smart contracting features embedded in securities tokens, which will be at the center of this service offering.
Shawn Sloves, CEO of Fundamental Interactions, said the alliance will provide end-to-end processes, including creation of tokens eligible for issuance and trading on multiple marketplaces through a well established network of broker-dealers, market makers, market data providers, and deep relationships with the traditional banking system and cryptocurrency network.
DBOT Chairman John Wallace added that the parties have agreed to establish and fund Velocity Ledger, a marketplace for real estate, fixed income, OTC cryptocurrency, and other asset classes in addition to the DBOT equities venue, which is already in operation as an SEC-regulated ATS.
He noted that the product was established to create markets for innovative new products like unlisted securities. As a brand they are willing to leverage their connectivity to over 200 broker-dealers, as well as market makers and data providers to bring liquidity to the rapidly-growing space in a well-regulated marketplace.