GLASS will drive OKEx's global expansion with compliant access to the US market
Hong Kong, — August 22, 2018 — OKEx is accelerating its global expansion by joining GLASS, the Global Liquidity And Settlement System developed by SharesPost. When GLASS becomes operational, OKEx will have both compliant access to investors in the U.S. and other crypto trading markets and the ability to pool liquidity with other GLASS exchanges on a trading pair by trading pair basis.
"We are excited to see GLASS gaining broad acceptance in the crypto exchange community," said Jason Lau, OKEx's VP of Business Development. "There is a growing demand for a decentralized liquidity and settlement solution in the market. Combining SharesPost's regulatory infrastructure and OKEx's deep pool of digital asset liquidity, GLASS will offer exchanges the most efficient, lowest cost way to settle compliant security tokens trades."
GLASS will be fully compliant with the regulations of all the jurisdictions in which its member exchanges operate. By connecting trading platforms with a global network of licensed entities (e.g., ATS, broker dealer, etc.), the system ensures that security token transactions will adhere to local securities laws. As the network develops, member exchanges will be able to expand their user bases and supported asset types, including private growth equity assets, tokenized assets, and other emerging security products. OKEx will also be able to settle trades for other GLASS member exchanges in countries where it has the appropriate licenses.
"By joining GLASS, the world’s leading crypto exchanges are signaling their commitment to compliant trading of blockchain securities and their belief that GLASS will soon make that a reality," said Greg Brogger, Founder and CEO of SharesPost. "We are also excited that GLASS will help generate liquidity for thinly traded tokens. In the aggregate, exchanges on the GLASS network already represent the world’s single largest pool of token liquidity. We are pleased that all participants will benefit from the networks economies of scale and network effects."
For more information on OKEx, please visit OKEx.com.
For more information on SharesPost, visit SharesPost.com.
SharesPost CEO Greg Brogger and OKEx VP of Business Development Jason Lau are available for interview
SharesPost’s mission is to create liquidity for the private growth asset class. In 2009, SharesPost launched the first online secondary market for private technology company shares. Since then, SharesPost has connected thousands of buyers and sellers in more than $4 billion worth of transactions in the shares of more than 200 leading technology companies.
The SharesPost platform now also enables clients to access a variety of private market investment and liquidity solutions including (i) research and data on leading private technology companies, (ii) the SharesPost Private Growth Index, (iii) the SharesPost100 Fund, a registered closed-end interval fund providing all investors with easy access to the asset class, and (iv) SharesPost Lending, which enables private company shareholders to borrow against their shares. In 2017, SharesPost managed its first Initial Coin Offering and in 2018 announced plans to integrate trading of digital securities into the SharesPost platform.
SharesPost is a FINRA-registered broker-dealer, SEC registered Alternative Trading System and Registered Investment Advisor. For more information, visit SharesPost.com.
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OKEx is a leading digital asset exchange providing global users with a robust digital asset-only trading platform. Currently, the exchange offers over 400 token & futures trading pairs enabling users to optimize their strategy. The OKEx platform provides a safe, reliable, and stable environment for digital asset trading, serving millions of customers from over 100 countries.
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GLASS is a decentralized liquidity and settlement network for crypto trading platforms and exchanges. Participating exchanges will deepen their liquidity, drive incremental transaction volume and settle compliant token transactions in all jurisdictions irrespective of whether or not the tokens are securities. The GLASS network will be anchored initially by the SharesPost Marketplace, an already established U.S. Alternative Trading System for digital and other unregistered securities.
For more information, please visit glassnet.io.