Companies have entered into a joint venture to launch a Security Token Exchange in the US
NEW YORK, Nov. 1, 2018 /PRNewswire/ -- seriesOne, a blockchain based FinTech leader created by industry veterans with expertise across technology, investment banking, venture capital, and financial compliance, today announced its agreement to form a joint venture with Bithumb, one of the top crypto exchanges in the world.
Under the terms of the agreement, Bithumb and seriesOne will form a joint venture intended to create a new exchange in the United States that will offer a compliant marketplace to trade Security Tokens, subject to receipt of SEC, FINRA and other applicable regulatory approvals. In addition, Bithumb is investing in a seriesOne entity in South Korea to scale technical development and marketing.
South Korea based Bithumb service enjoys outstanding global recognition as a cryptocurrency exchange. seriesOne is a FinTech leader that operates a platform in the US for initial security token offerings under SEC exemptions such as Reg CF and Regulation D. Together the companies believe they are well positioned to execute on a global token exchange that operates in compliance under US securities laws.
As previously announced, seriesOne has appointed Kaine Kim as Managing Director of seriesOne South Korea and Head of Asian Operations and subsequently incorporated seriesOne South Korea. Mr. Kim was a former Deputy Director of South Korea's Financial Services Commission ("FSC") and joined the seriesOne leadership team in early 2018.
Back Young Heo, CEO of Bithumb, remarked, "We are very excited about joining with seriesOne. We are not only impressed by the mix of talent between investment banking, compliance, and technology of the seriesOne team but also with their deep understanding of US securities regulations and how they apply to token offerings."
"We are thrilled to collaborate with a global leader in the blockchain and crypto space," said Michael Mildenberger, CEO of seriesOne. "I believe that our companies will be able to create a unique product to not only tokenize major assets, but that could also create liquidity through a compliant token exchange."
Bithumb is a global comprehensive financial platform company with leading innovation based on cryptocurrency, blockchain, and FinTech. Bithumb enjoys overwhelming recognition amongst the cryptocurrency exchanges along with high customer loyalty. Growing continuously with the increasing interest in cryptocurrencies, blockchain, and FinTech, Bithumb's daily maximum transaction amount has exceeded KRW 6.5 trillion, and the monthly maximum has exceeded KRW 113 trillion. Through competitiveness based on abundant liquidity, safe transactions, and transparent operations, Bithumb has the most members among Korean exchanges.
seriesOne is a leading blockchain based FinTech company formed by industry veterans with decades of expertise across technology, investment banking, venture capital, and financial compliance. The firm provides strategic counsel, regulatory compliance, fundraising infrastructure and access to a proprietary network of investors worldwide. All seriesOne services are conducted via US Securities and Exchange Commission ("SEC") exemptions such as Regulation D, Regulation Crowdfunding, and Regulation A+, enabling companies to register, market, and escrow fundraising initiatives. Learn more at seriesOne.