Russian NSD to Launch Security Token DLT Platform

A division of the Moscow Stock Exchange chose Switzerland as the jurisdiction for launching the site due to number of reasons
23 May 2019   251

In June, the Russian National Settlement Depository (NSD) will launch the D3 blockchain platform for storing and using digital assets. It is reported by CoinDesk.

A subsidiary of the Moscow Stock Exchange chose Switzerland as the jurisdiction for launching the site, focusing on a favorable regulatory environment and the potential for the development of a cryptocurrency market.

In terms of laws, [Switzerland] allows the tokenization of at least some kind of securities. That’s the first thing. And it’s favorable for such things because there is market demand.

Artem Duvanov

Head of Innovation/Director at NSD

Platform D3 will provide secure, decentralized storage of several types of digital assets:

  • security tokens representing unregistered shares in a small medical company;
  • cryptocurrency Sora, developed by the Japanese technology provider Soramitu;
  • Bitcoin and Ethereum;
  • ERC-20 standard tokens.

At the same time, Bitcoin and Ethereum will be stored on the D3 platform as depositary bills. With this approach, the cryptocurrency is frozen in the main blockchain using smart contracts with a multi-signature, and the D3 network releases the corresponding tokens.

All operations at D3 will be carried out using the Hyperledger Iroha framework, created by Soramitsu in partnership with the Hyperledger consortium.

According to Duvanov, the next step will be addition of realiable stablecoin to launch over-the-counter transactions without risks for the counterparty. Among others, the possibility of using the Gemini Dollar is being considered.

CFTC to Approve LedgerX's Deliverable BTC Futures

At the same time, another platforms such as Bakkt, ErisX and Seed CX still awaiting regulatory approval
26 June 2019   65

Cryptocurrency derivatives provider LedgerX LLC has received a license from the Authorized Derivatives Market (DCM) from the US Commodity Futures Trading Commission (CFTC), which will allow it to launch the country's first bitcoin futures.

Deliveries for deliverable futures are made in the underlying asset, not in fiat funds. Thus, LedgerX outstripped the Bakkt, ErisX and Seed CX platforms, which are still awaiting regulatory approval.

At the same time, LedgerX intends to launch the Omni platform for trading options, swaps, and bitcoin futures for retail investors, since at the moment it does not see enough interest from institutional market participants.

However, it should be added that some experts have already expressed fears that the nature of the license received will not allow LedgerX to provide margin tools to customers, and Bakkt should have such functionality.

Recall about the intentions to obtain the appropriate permission and overtake competitors LedgerX said in April.