A blockchain firm founded in 2012 is making its shares available for trading on a blockchain-based alternative trading platform for capital markets.
XY Labs, the blockchain company behind the XYO protocol, has announced that its Class A common stock has started trading on tZERO ATS, an alternative trading systems subsidiary of stockbroker tZERO Group.
According to the blockchain oracle data provider, this will be the first time that shareholders will be able to access XY Labs shares on a regulated trading venue. XY Labs CEO Ari Trouw commented that it offers a number of benefits for shareholders, including low trading fees and continued liquidity.
tZERO ATS is a broker registered with the United States Securities and Exchange Commission (SEC) and a member of the country’s Financial Industry Regulatory Authority and Securities Investor Protection Corporation. The firm uses smart contracts on the Ethereum blockchain and offers digitally enhanced securities.
tZERO CEO David Goen said that his team looks forward to continuing their collaboration with XY Labs as they expand their product offerings. ,[…]We strive to expand digital securities trading on our platform by increasing the assets offered and the number of investors using the platform,” said Goon.
related: NY Stock Exchange owner ICE buys stake in tZero security token platform
XY Labs achieved a worldwide network of more than 4 million nodes in June on its XYO protocol. In an Ask-Me-Anything (AMA) session with Cointelegraph Markets Pro, Trouw said that the project uses blockchain to memorialize answers and provide transparency through linking supporting data using immutable hashes.
Meanwhile, the crypto wallet Exodus went public on the SEC-registered trading platform Securitize Markets on March 17th, after raising $75 million. The Wallet Project’s Class A common stock, trading under the ticker EXOD, runs on the Algorand blockchain via a common stock token.
