Cryptocurrency exchanges are gaining new access to tokenized securities in Europe through a regulatory compliance solution from Austrian trading platform Assetera. The MiFID regulated firm aims to partner with crypto exchanges to provide white label access to xStocks, tokenized securities based on US listed stocks from Backed Finance.
Kraken and Bybit began offering xStocks in June, though Kraken’s service excludes the US, Canada, UK, EU, and Australia. Assetera’s API solution promises to solve regulatory barriers by providing “instant regulatory compliance across 30 European countries.”
“The demand from exchanges is unprecedented,” said Thomas Labenbacher, CEO and Founder of Assetera. “We’re speaking with the top exchanges because they all recognize that tokenized securities represent the future of their business, but regulatory barriers have made it nearly impossible within a competitive timeframe.”
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