South Korean crypto exchange Bithumb has teamed up with crowdfunding platform seriesOne to launch a compliant security token exchange in the U.S.
The joint venture was revealed in a press release from seriesOne shared with CoinDesk on Thursday, which adds that the exchange launch is still subject to regulatory approvals from the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
SeriesOne already offers an SEC-regulated platform that supports projects launching initial token offerings, as well as traditional equities and debt offerings.
"I believe that our companies will be able to create a unique product to not only tokenize major assets, but that could also create liquidity through a compliant token exchange," said seriesOne CEO Michael Mildenberger.
Bithumb is also investing in a seriesOne entity in South Korea in order to scale technical development and marketing, the release indicates.
Back Young Heo, CEO at Bithumb, said:
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.