Crypto startups Zilliqa has partnered with MainCoin to create Hg Exchange, a new centralized member-driven security token exchange. The exchange will offer blockchain-based trading for tokenized versions of traditional assets.
Hg Exchange announced in a press release on Thursday that it would provide “access to high-growth startups and also decacorns [companies valued above $10 billion] such as Uber, Airbnb, Space X, Grab and Didi Chuxing.”
The exchange reportedly requires any financial intermediaries to be licensed under Singapore’s central bank,The Monetary Authority of Singapore (MAS). Hg Exchange has also applied to participate in MAS’ FinTech Regulatory Sandbox.
Hg Exchange claims to be the first “member-driven” exchange in Southeast Asia. It has already signed a memorandum of intent with four companies: Phillip Securities, PrimePartners, RHT Capital, and Fundnel.
Recently, trading of tokenized assets has become popular than ever. Earlier this month, TheCryptoSight reported on the launch of two platform for trading tokenized assets including Belarus-based Currency.com and Estonia-based DX.Exchange.