Crypto startups Ziliqa and MaiCoin have come together to build a centralized security token exchange in Singapore. The exchange will deploy distributed ledger technology in trading traditional asset classes. Hg exchange envisions to build its reputation as a “one-stop solution” for token issuers, buyers, sellers and market makers. Moreover, it will provide participants access to security tokens and privately held shares.
Hg exchange claims to be the first “member-driven exchange” in southeast Asia. It seeks to merge the traditional finance industry with the still evolving crypto space. This implies that any participants in the platform will undergo licensed financial intermediaries in association with the exchange.
Furthermore, Hg exchange said it hopes to provide investors access to both new ventures and established, closely held tech giants:
“It is envisaged that Hg Exchange will provide access to high-growth startups and also decacorns [companies valued above $10 billion] such as Uber, Airbnb, Space X, Grab and Didi Chuxing, which are currently not within reach of the average investor.”
Hg exchange also added that Zilliqa aims to launch its own blockchain mainnet on Jan. 31. This move will facilitate the tokenization process of private company shares on its network. However, it is likely to face stern competition from, DX.Exchange. The exchange lists ethereum tokens which are are backed 1-for-1 by publicly traded stock held by a third party.
Hg exchange further adds that it will allow founders, employees and other shareholders to monetize their shares.
Combining private equity and other traditional asset classes with blockchain technology can “liquefy previously illiquid assets,”
Alex Liu, MaiCoin’s CEO, said in a statement.
Hg Exchange Signs Memorandum with Crypto Giants
The exchange has signed a memorandum of intent with its first four members:
- Phillip Securities
- RHT Capital
Fundnel co-founder and CEO Kelvin said :
“The digital-first strategy adopted by Hg Exchange is envisioned to seamlessly connect private enterprises with the right investors, and also democratize the capital market by providing investors with a chance to participate alongside their institutional counterparts,”
Zilliqa and MaiCoin
Zilliqa claims to solve scaling issues with sharding. This process breaks the main blockchain up into separate, smaller units to more efficiently process transactions.
“Rather than blockchain for blockchain’s sake, it’s important to look at how blockchain technology can solve existing challenges holding industries back,”
Zilliqa co-founder and CEO Xinshu Dong said in a statement.
“Within the private investment industry, blockchain can provide greater standardization, fractionalization, and enables trading on a regulated venue at lower costs.”
“Our aim is to continue to focus on real-world use cases to accelerate the mainstream adoption of blockchain, and move the industry towards meaningful growth.”
Whereas, MaiCoin is a digital asset exchange platform. It offers both trading and payment services across Taiwan and abroad. On the user side, MaiCoin will be providing multi-factor authentication and transaction signing technologies to ensure security