Security token marketplace FreedomX approved in Canada for pilot testing
Published by
CryptoNinjas.net
10/24/2019
TokenGX, a Canadian security token issuance platform and its affiliate TokenFunder, Canada’s first security token exempt market dealer, announced that TokenGX has received approval from the Ontario Securities Commission (OSC) for pilot testing a secondary trading marketplace of digital securities.
The Ontario Securities Commission approved TokenGX to launch and operate FreedomX, a secondary trading marketplace for security tokens issued by issuers on the TokenFunder platform.
FreedomX will be powered by TokenFunder’s blockchain technology. All participating investors will be able to buy and sell private market securities directly between themselves.
Alan Wunsche
“We are excited to receive the support of the OSC and specifically the OSC LaunchPad. The OSC LaunchPad team clearly understands the transformative potential of blockchain technologies in capital markets. Their willingness to grant exemptive relief in the private markets demonstrates a commitment to supporting innovation while putting investors first. This is an extremely important day for Canadian competitiveness in a global financial market. With digital shares recorded on a public blockchain, we will not only dramatically reduce the cost of capital for Issuers compared to traditional platforms, but also provide liquidity through the secondary trading marketplace, which also includes critical ongoing management disclosures and investor relations services for our Issuers. These ongoing services will be good for both investors and issuers on the TokenFunder platform.” – TokenGX Co-Founder Alan Wunsche
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