Binance, the world’s leading cryptocurrency exchange by trading volume, has announced the launch of a new platform called “Binance Polymath.” The new platform is designed to help issuers of security tokens comply with regulations and launch their own token sales.
Binance Polymath will offer a suite of tools and services to help issuers create compliant security tokens and launch their token sales on the Binance Chain, the decentralized exchange launched by Binance earlier this year. The platform will also provide a marketplace for security token trading and a registry of compliant security tokens.
In announcing the launch of Binance Polymath, Binance CEO Changpeng Zhao said that the new platform is part of the company’s efforts to “build an ecosystem for compliant security token trading.”
NOTE: No, Polymath is not a Binance cryptocurrency exchange. Polymath is a blockchain platform that enables users to create and manage security tokens. Binance is an online cryptocurrency exchange which provides a platform for people to buy and sell digital currencies.
“Security tokens are the next wave of opportunity in the blockchain space, and we are excited to be launching a platform that will help issuers launch compliant security token offerings,” Zhao said.
The launch of Binance Polymath comes as the market for security tokens is heating up. Security tokens are digital assets that are subject to government regulation, and they have been touted as a way to bring the benefits of blockchain technology to traditional financial assets like stocks and bonds.
So far, most security token offerings (STOs) have been launched by startUPS and small businesses, but there is increasing interest from larger companies and institutions. For example, last month it was reported that Goldman Sachs is considering launching a Bitcoin trading desk, and one of the bank’s partners is reportedly working on a security token platform.
As the market for security tokens grows, it is expected that more exchanges will launch platforms dedicated to trading these assets. Binance is one of the first major exchanges to do so, and its experience in launching successful token sales makes it well-positioned to capitalize on this opportunity.
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