Tokenized Uber Shares to be Traded at Hg Exchange

Hg Exchange is supposed to be a full-flaged solution for issuers of tokens, traders and brokers
25 January 2019   358

The Zilliqa and MaiCoin teams intend to launch a centralized Hg Exchange exchange for trading tokenized traditional assets in the Singapore jurisdiction. According to the developers, this will be the first partner-driven trading platform in Southeast Asia.

Note that the Hg Exchange is supposed to be a full-flaged solution for issuers of tokens, buyers / sellers and broker-dealers, providing access to securities and security tokens.

It is envisaged that Hg Exchange will provide access to high-growth startups and also decacorns [companies valued above $10 billion] such as Uber, Airbnb, Space X, Grab and Didi Chuxing, which are currently not within reach of the average investor.

Project Representatives

The tokenization of securities will take place on the Zilliqa blockchain; the launch of main network is scheduled for January 31. Zilliqa ICO ended almost a year ago.

The exchange has already signed a letter of intent with Phillip Securities, PrimePartners, RHT Capital and Fundnel.

At the same time, all partners of the site must be licensed by the Monetary Authority of Singapore (MAS), and the trading platform itself will join the sandbox department.

Gladius to Register Token as Security & Refund Investors

Startup self-reported in SEC on unregisted securities offering and cooperate with Commission, so it won't be fined
21 February 2019   104

Cryptocurrency startup Gladius Network LLC has informed the US Securities and Exchange Commission (SEC) about the sale of unregistered securities. On February 20, the SEC filed relevant charges.

During the ICO, the Gladius project raised $ 12.7 million in cryptocurrency equivalent for the development of a network for leasing computing facilities to protect against cyber attacks. The SEC stressed that the startup did not register their tokens as securities, as required by federal law, and did not agree to exclude them from the rules in the legal manner.

Moreover, tokensale was held after the publication of the SEC report on the situation with The DAO, in which the regulator stated that ICO can offer securities.

The press release says that Gladius contacted the SEC in the summer of 2018 and expressed interest in cooperating with the investigation. Thus, the agency refused to levy a fine, because the startup voluntarily agreed to return the funds to investors who require it and register the token in accordance with the provisions of the Securities Act of 1934.