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SharesPost’s GLASS (Global Liquidity and Settlement System)

August 2, 2018

 

 

 

GLASS (Global Liquidity and Settlement System) is a new platform from SharesPost that will give cryptocurrency exchanges the ability to settle compliant trades in any jurisdiction, increase liquidity and benefit from the existing network. SharesPost facilitates growth in late-stage, private companies and their leadership by providing liquidity and publishing private market data, research and valuation tools. More than 150,000 investors are registered with SharesPost, including more than 50,000 institutions and accredited investors.

 

Streamlining Regulatory Compliance

 

The network will take care of regulatory compliance, allowing exchanges function internationally. Each jurisdiction/country will feature one or more licensed entities (e.g., broker-dealer, Alternative Trading System, etc.) on the network to settle trades in that jurisdiction.

 

Increasing Liquidity

 

To increase transaction volume, token trading platforms will submit buy and sell orders for some or all of their tokens to the network. The network will connect buyers and sellers from different exchanges, pooling the collective liquidity of participating exchanges.

 

Other Platform Features

 

A marketplace for security and utility token issuers will be integrated into the existing SharesPost data research and investment tools. It will provide access to ICOs and secondary trading. The system will connect directly to SharesPost’s brokerage accounts, which are licensed to manage fiat, cryptocurrency, and securities, whether traditional or digital

 

SharesPost

 

After launching in 2009 SharesPost ahs pioneered online trading of shares of private growth companies. The platform has matched thousands of buyers and sellers totaling over $4 billion share transactions of 200 leading private companies, notably Facebook, Tesla, Twitter, LinkedIn and Alibaba. The company is perfectly established to build out the new GLASS network for business success, but more importantly, regulatory compliance.

 

The SharesPost’s U.S. trading platform has offices in New York and San Francisco, and is licensed by the U.S. Securities Exchange Commission as an Alternative Trading System (ATS), and by the Financial Industry Regulatory Authority (FINRA) as a clearing broker-dealer. A business development subsidiary is licensed and operating in Hong Kong, with similar subsidiaries in Singapore and Dubai working with regulators to gain licensing. Licensed broker-dealer subsidiaries in London and Berlin are planned as well.

 

Newest Member - OKCoin

 

OKCoin launched service to U.S. citizens earlier this month, after they opened an office in San Francisco on June 1, 2018.

 

 

 

By: BGN Editorial Staff

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