SharesPost and Lightyear.io Partners with Stellar Decentralized Exchange
SharesPost, on 31st July, announced that it now partnered up with Lightyear.io, a technology company which is contributing to the Stellar Decentralized Exchange. As a result of this partnership, Stellar Exchange is now added to SharePost’s initiative, the Global Liquidity and Settlement System [GLASS], as an exchange location. Tokens listed on the Stellar Decentralized Exchange can be traded efficiently in the trade markets globally because of this partnership.
The Founder, and CEO of SharesPost, Greg Brogger said:
“Lightyear and Stellar will be key partners for SharesPost as we gear up for the launch of GLASS. With their support and expertise, we will add high-quality assets to the GLASS network and be one step closer to a global system for trading security tokens and tokenized assets.”
The main objective of GLASS functions is to allow cryptocurrency exchanges to settle accommodating trades in any jurisdiction. The primary objective of the network is to connect the registered entities with the exchanges [e.g., broker-dealer, Alternative Trading System, etc.] which will enable to settle secondary transactions in the form of cryptocurrencies.
If a member exchange matches to that of a buyer in a foreign jurisdiction in a digital securities trade, the trade will present the exchange for settlement to GLASS. GLASS would then direct the exchange to the management in that jurisdiction to find out if it complies with the local laws and rules. The companies aim to target a larger client base and affiliated digital assets with this partnership. This will ensure the growth of assets like upcoming security products and private growth equity assets.
Director of Partnerships at Lightyear.io, Boris Reznikov said:
“We believe security tokens will play a key role in shaping what the global financial markets will look like in the next couple of years. We’re excited to be partnering with SharesPost on GLASS to play a key role in the development of this new paradigm.
The company that has taken the initiative for the partnership, SharesPost is a company that gives “liquidity” to companies that value to billion dollars. The company also provides information for research purposes and information feed.
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