Moving on Up
In the last month, Polymath has seen its native token picked up by multiple exchanges. As a result, the token will gain huge amounts of exposure. This bodes well for the future of the asset, as tokens related to the digital securities sector gain in popularity.
While Polymath, as a company, functions to facilitate growth within the digital securities sector, their native token, POLY, function as a utility. Companies utilizing services on the Polymath platform, make use of POLY tokens as a form of fuel/transaction payment.
It is this POLY token that cryptocurrency exchanges actively trade.
Exchanges saying, Welcome!
Both Bithumb and Poloniex have opened their doors to the token. It is important to note – Polymath did not pay for these listings.
In a point of contention over 2018, certain exchanges will list questionable projects if paid an exorbitant listing fee. These particular listing were not achieved in this manner. Polymath, and the strength of the digital securities sector as a whole, led to the project being picked up.
To date, Polymath finds themselves listed on 21 various exchanges. While reported trading volumes can often be manipulated, roughly 60% of Polymath traded occurs on the following exchanges:
While each listing led to a temporary boost in price, these gains could not be sustained. Despite this, Polymath has been on a slow burn, finding itself rising the ranks over the past few months. Today, Polymath finds itself firmly entrenched within the top 100 projects (on CoinMarketCap).
Polymath is based out of California, and was founded in 2017. Since inception, Polymath has gone on to be one of the companies most synonymous with digital securities.
Above all, Polymath works to provide the services needed for companies to launch their own security tokens. The company remains flexible in their offerings, through the use of multiple variants of the ERC-1140 token standard – each variant being tailored towards a specific sector.
Bithumb is based out of South Korea, and was founded in 2014. In the time since inception, Bithumb has become a mainstay within the world of blockchain. To date, it remains one of the most popular exchanges within a leading world market.
Poloniex is based out of Delaware, and was founded in 2014. This American cryptocurrency exchange is one of the most respected exchanges throughout the world.
The company made waves in early 2018 when conglomerate, ‘Circle’, purchased the exchange for a sum of $400 million USD. In the time since acquisition, Poloniex has expanded services, while honing issues that users lambasted during the boom of 2017.
While their ranking by volume has seen them drop to the 56th largest exchange – at time of writing – Poloniex remains one of the most well known in the industry.
SIX Acquires Stake in daura – SDX Exchange
A Strategic Advantage – SDX Exchange
Boerse Stuttgart Subsidiaries to Benefit from Investment by SBI Holdings
It is fair to say that SBI Holdings has decided to go all-in on blockchain based endeavours as of late. This has been made evident through various high profile investments. The most recent of which include Ripple, Securitize, and now Boerse Stuttgart – the latter of which we will discuss here today.
In an effort to usher in higher levels of adoption surrounding digital securities, SBI Holdings has invested in multiple branches of the Boerse Stuttgart group.
- Boerse Suttgart Digital Exchange
- Boerse Stuttgart Digital Ventures
Plans Moving Forward
In their announcement, it is clear that the rationality behind this new partnership is geared around global expansion. With SBI Holdings operating within Japan, and the various branches of the Boerse Group operation throughout Europe, the pair should find the partnership mutually beneficial.
Beyond simple expansion, the pair of companies closed out their announcement by elaborating on their plans. They stated,
“The SBI Group and the Boerse Stuttgart Group are partners in the digital asset business in Asia, including Japan, as well as in Europe. We will work together to build a global digital asset finance ecosystem utilizing blockchain.”
Upon announcing these investments, representatives from each, SBI Holdings and Boerse Stuttgart, took the time to comment. The following is what each had to say on the matter.
Yoshitaka Kitao, CEO of SBI Holdings, states,
“Due to the decentralized nature of digital assets, it is our top priority to find globally suitable partners to build our digital asset ecosystem. The SBI Group, with its trading platform for digital assets and other relevant companies, will make full use of the cooperation with the Börse Stuttgart Group to respond to the global customer interest in digital assets.”
Alexander Höptner, Chairman of the Management Board of Boerse Stuttgart GmbH, states,
“Asia and Europe are currently the fastest growing markets for digital assets. With the SBI Group, we have found an ideal partner to realize our vision of an efficient, global ecosystem along the value chain of digital assets. In addition to the exchange of knowledge and technology, the collaboration also covers the issuance, listing and trading of digital assets across borders, as well as brokerage services and building the first global bridge for custody.”
The Boerse Stuttgart Group consists of various branches such as Boerse Stuttgart Digital Exchange, and Boerse Stuttgart Digital Ventures. These two branches, in particular, have a focus on blockchain based endeavours, including the eventual creation of a secondary marketplace for digital securities.
An acting subsidiary of SBI Group, SBI Holdings, was launched in 1999. The company maintains headquarters within Tokyo, Japan, where they seek out, and establish, strategic partnerships with high potential companies.
CEO, Yoshitaka Kitao, currently oversees company operations.
In Other News
In recent months, each of the companies discussed here today have found themselves in our news feed. Whether launching a digital exchange, or making strategic investments, both companies have been quite active. The following articles are just a couple discussing recent moves by both.
DX.Exchange Goes Bankrupt – CX Technologies Ltd
Additionally, a host of suppliers have taken suit against the company. These suits run the gambit from unpaid bills to the alleged fraud. The well-known cybersecurity firm, White Hat Ltd is one of the company’s claiming losses due to DX.Exchange actions. Another lawsuit lists Bee2See Dotan B.S. Solutions. This is the firm that handled DX.Exchange targeted marketing. Even the company supplying the servers never got paid – Malam Team.
Writing on the Wall – DX.Exchange
Employees and suppliers knew to take action earlier in the month after the firm closed its doors unexpectedly. At the time, DX.Exchange owner Pinhas Patarkazishvili cited the rising costs and dwindled profits the exchange had left. He told employees that he was searching for a merger or acquisition and if that he was unsuccessful, the company would permanently cease operations.
Security Tokens on the DX.Exchange
Will Employees and Affiliates Get Paid?
- Canadian Securities Administrators (CSA) Address Crypto-Assets within Regulatory Framework
- SEC Provides Warning on ‘Initial Exchange Offerings (IEOs)’
- New Shore Invest Starts a New Ship Finance Platform
- iSTOX Builds Upon Recent Successes with a Further $5M in Funding
- US Global Securities to Act as ‘Lead Financial Advisor’ for $50M Raise by Custodial Platform, Koine.