Today, SharesPost, a leading provider of late-state private company liquidity solutions and private capital markets research, announced it has obtained regulatory approval for its Alternative Trading System (ATS) to list and allow secondary trading of tokenized securities asset class.
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The regulatory approval will allow token issuers and investors the opportunity to invest in Initial Coin Offerings (ICOs) and trade digital securities through the SharesPost private marketplace, all in compliance with the SEC. The ATS approval will also allow SharesPost to be one of the first companies to operate in this capacity, allowing SharesPost to bring its expertise and experience to the tokenized securities market.
The SEC approval paves way for SharesPost to launch its recently announced security token exchange platform in H2 2018
May 14, 2018 - San Francisco, CA - SharesPost, a leading provider of late-stage private company liquidity solutions and private capital markets research, today announced that it has secured regulatory approval for its Alternative Trading System (ATS) to list and facilitate secondary trading of the emerging tokenized securities asset class. This will allow security token issuers and investors to invest in ICOs and trade in digital securities in compliance with U.S. securities laws through the SharesPost private marketplace.
CEO of SharesPost Digital Securities John Wu said, “This is a landmark moment for SharesPost. We saw a need from our investors to expand their portfolios by having the opportunity to participate in Initial Coin Offerings and trade tokenized securities. The ATS approval allows SharesPost to be one of the first companies to operate in this capacity. We are excited to have the green light from the SEC to grow this new arm of our service.
SharesPost has been a pioneer in the private capital markets for nearly a decade, offering new opportunities to investors and businesses who are unable to leverage traditional IPO and equities markets. Now, with the launch of the SharesPost Digital Securities Group the company is adapting its existing ATS and proven transaction capabilities in unregistered securities to the quickly emerging security token market. The platform will also provide investors with the digital custody capability of SharesPost's Private Brokerage Account, as well as investment research and transaction data on leading token issuers.
“The progression of secondary markets for equities from an entrenched financial product to innovative platforms is happening faster than investors and regulators have anticipated,” said SharesPost CEO Greg Brogger. “SharesPost Financial, our broker-dealer, is one of the first broker-dealers the SEC has cleared for approval in this emerging space. This is a significant milestone for SharesPost as we expand into a tokenized world, bringing our industry expertise to the burgeoning security token market.”
The U.S. Securities and Exchange Commission official approval of SharesPost’s Alternative System Trading License (ATS) for security tokens is dated to April 16, 2018, and is effective unless noted otherwise. For more information on SharesPost visit https://sharespost.com.