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Online investment platform BnkToTheFuture has acquired Altcoin.io, a decentralized exchange and peer-to-peer solution, to build a compliant securities token exchange.
As per a press release, the investment firm plans to transform the technical advancements of Altcoin.io into a fully-fledged security token exchange, as it aims to “capture this growing market.” The proposed exchange will be non-custodial, meaning that it will allow investors to maintain custody of their own tokens.
“Altcoin.io has an impressive list of technological advancements under their belt, but what set them apart was their commitment to working in tandem with this dynamic regulatory landscape,” Simon Dixon, BnkToTheFuture CEO, noted.
Founded in 2017, Altcoin.io focused on speed, scalability, and usability. It is known for completing the first Bitcoin-to-Ethereum atomic swap in the world and is working on second-layer solutions like Plasma.
According to Altcoin.io CEO Andrew Gazdecki, upgrades for the capital markets have long been overdue; however, the DEX is excited to see how BnkToTheFuture will realize its commitment.
BnkToTheFuture, which has facilitated investments for big crypto names like Coinbase, Bitfinex, Circle, and Ripple Labs, plans to launch the non-custodial marketplace that will allow clients to buy and sell security tokens integrated with BnkToTheFuture Token (BFT) next year.
As previously reported, BnktoTheFuture has also recently participated in the late seed round of Bitrefill, which raised $2 million. The funding, led by Coin Ninja, will allow the Stockholm-based startup to expand the reach of its cryptocurrency gift card platform to other markets outside the U.S. and Europe.
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