ChoiceTrade Seeks to Enter Security Token Market
This month, ChoiceTrade Holdings announced the start of an equity crowdfunding campaign to fund the development of a “micro-investing” app. The news follows a recent trend of traditional financial institutions entering the security token market.
News of the crowdfunding campaign first emerged via a press release from ChoiceTrade. In the release, the firm outlines some of the goals behind its new strategy. For one, the company seeks to become active in the security token trading sector, including the secondary market trading of private equity securities. This decision shouldn’t strike anyone as a huge surprise. Blockchain technology continues to provide a better option for trading platforms moving forward.
The ChoiceTrade app will be the launchpad for a number of new services and features. The new app will streamline the entire investment process. Additionally, it removes some of the most common roadblocks encountered by securities investors.
For example, the new app lowers the minimum investment requirements down to just $10 USD. Lower entry costs equal more opportunities for global investors. Now, anyone can trade on the platform.
Additionally, the company plans to utilize funds for the expansion of their backend. ChoiceTrade wants to facilitate crypto security token transactions and secondary market trading for private equity securities via the new platform. Both of these features symbolize a strong push to become a major player in the tokenized securities sector.
The ChoiceTrade platform is a subsidiary of ChoiceTrade Holdings. ChoiceTrade Holdings is best known as a Fintech company focused on the implementation of new technologies for the digitalization of the economy. Currently, the company offers investors access to stocks, options, and EFTs. Importantly, all of these financial instruments are eligible for tokenization moving forward.
The firm is an SEC-registered online broker-dealer. As such, the company enjoys a number of benefits compared to unregulated firms. The company made headlines for the use of a number of self-built proprietary systems. Notably, the existing retail brokerage protocol known as Robotrading is hugely popular.
Currently, ChoiceTrade has an impressive customer base that expands from the United States to encompass over 100 countries worldwide. The platform is known for its scalability, high-profit margins, and competitive pricing.
ChoiceTrade is based out of Brunswick, New Jersey. The firm received numerous awards since its inception. Notably, Barron's Magazine awarded the company four stars six years in a row in the category of “Best Online Brokers.”
Additionally, the company is known for its low-cost commissions. The company has done away with base fees and instituted a $50 per month cap on all trading commissions. These reduced fees combined with a better UX, make ChoiceTrade a leader in the industry.
Make the Right Choice
ChoiceTrade definitely has the network to make a splash in the security token sector. You can expect to see more from this innovative firm as its app development reaches new milestones in the coming weeks. For now, interested investors can participate in the crowdfunding campaign via the Wunderfund platform.