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Coinbase was approved by SEC to list security tokens

Jul 19, 2018

One of the top U.S. cryptocurrency exchange, Coinbase Inc., has been granted the regulatory’s approval to acquire securities of several firms – it is a great progress in legitimizing crypto investments and provisions of related services to public in a trustworthy way.

Last month, the exchange announced that it intends to purchase three companies: (I) Keystone Capital Corp., (II) Venovate Marketplace and (III) Digital Wealth LLC – as means of becoming a regulated platform for offering trading services in security tokens, as well as to tokenize traditional financial assets. Coinbase COO Assiff Hiriji commented:

“Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title.”

According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have officially authorized Coinbase to move forward with the purchase of Keystone Capital after over a month of anticipation.

With the SEC supervision Coinbase will be able to list blockchain-based securities, a term which will likely include all initial coin offerings.

Coinbase Inc. is planning to establish one of the most trusted portals in the area of cryptocurrency investments.

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