OK Coin Announces Partnership With SharesPost

OKCoin has made major strides in the last year. Starting out as a small startup with an Initial Coin Offering, the platform for both fiat and digital token trading has quickly become a name brand in the trading world. It is marked by its intense efficiency and reliability, as well as its ability to effectively scale. The company boasts an impressive 130 employees, and is based out of Beijing, China. The coin has generated especially significant interest within China, where exchanges are few and far between and regulation is fraught with problems for the newer coins.

But in a latest move to gain access to better technology and even more eager customers, the company has recently announced a key partnership with SharesPost, a custody network prized for its liquidity solutions and research contributions within the private economic sector. The partnership is said to be primarily technical in nature, with both companies planning to work together to run nodes for their exchange on a settlement system pioneered by SharesPost known as GLASS.

The GLASS Nodes (Global Liquidity And Settlement System), are fully compliant with all regulations on the United States investment market. The exchange will take part in the launch of the new security token investors market said to start sometime this year, remaining as a major industry from there on out.

The start of a new collaboration began as SharePost shook virtual hands with OKCoin exchange to solidify the start of a new partnership. The two tech companies specialize in different areas within the financial sector. OKCoin is a traditional exchange for cryptocurrencies, but until now, has been unable to be fully compliant with United States Trade Regulations. SharePost is the missing link the evolution of OKCoin – being a security company focused on liquid solutions, research and development – they will give OKCoin access to their GLASS Exchange Nodes.

GLASS is short for the Global Liquidity and Settlement System. The complicated technology allows for several liquidity solutions for companies using the system. GLASS is compliant with current global expectations and laws surrounding blockchain technologies and crypto trading. The system helps to manage assets, both tokenized and equity, as well as new security-related holdings across multiple platforms.

GLASS will be paired with another SharesPost innovation, known as the Alternative Trading System, or ATS, in order to expedite and expand current capabilities. In totality, the dual-function system is poised to provide liquidity, efficiency, and compliance solutions to OKCoin as the exchange continues to grow and gain exposure and interest.

SharePost isn’t bashful about their excitement on the new partnership. They’ve been somewhat ecstatic about it, with anticipation on the launch of GLASS. Since OKCoin is one of the largest worldwide cryptocurrency exchanges, it puts SharePost in a new position as a global tech security leader. The creation of a new decentralized network built to run the global security token trading industry is a major project to take on. Both SharePost and OKCoin are confident in the partnership, believing it will lead to a smooth launch of GLASS, making it one of the most affordable, efficient exchanges for security tokens in the world.

The two companies are well-suited to support each other, making use of each party’s user-base to expand their reach, and streamline the launch of the platform. The exchange will manage OTC pools, trading protocols, verification and act as custodian for several security tokens and related assets. The first digital exchange nodes on the platform will be the OKCoin and United States-Based ATS.

The official announcement from OKCoin claims that the company will see an increase to liquidity, transactional volume, settlement speed, as well as transaction compliance, in addition to unnamed additional benefits. The company is especially interested in the partnership with SharesPost because of the latter’s positive reputation as a provider of securities solutions and technologies.

Following the initial launch of this esteemed partnership, the plan is to establish a “decentralized liquidity and settlement network” to facilitate the millions of transactions which occur on the Chinese exchange every day. Additionally, other platforms are going to be allowed to join the platform, providing settlements in the form of cryptocurrency exchanges.

The key takeaway from this part of the process is that, eventually, OKCoin plans to offer their own compliance services to other companies operating on the GLASS set of systems. This means that the company is slowly expanding into a new area of business—not just exchange of currency—though this new partnership with SharesPost.

Services provided by the partnership will be offered to different coins as GLASS develops further, with future security tokens gaining the ability to be listed on the platform.

Moving forward, both OKCoin and SharesPost are excited about this new partnership. For OKCoin, this is an opportunity to establish what they call a “self-governing” community consisting of settlement providers and platforms for the trade of cryptocurrencies. As the partnership develops, the cryptocurrency community will watch with immense interest to see how exactly the two leading securities companies shape an evolving industry with their work.

The official launch of the platform is scheduled for some time in the second half of the year, 2018. SharePost is a full registered broker and dealer with FINRA, OKCoin is globally recognized cryptocurrency exchange leader, who mainly traded crypto to fiat.

What are your thoughts on the emerging security token trade industry? Leave your personal thoughts in the comment section below on the new launch of the platform and industry.

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