Circle’s SeedInvest Takes Step Toward Tokenizing Stocks With Trading License

Nikhilesh De | April 26, 2019

Circle’s SeedInvest Takes Step Toward Tokenizing Stocks With Trading License
Equity fundraising platform SeedInvest, which was recently acquired by cryptocurrency startup Circle, can now operate as an alternative trading system (ATS), the companies announced Friday. SeedInvest and Circle said in a blog post that the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization that oversees broker-dealers and securities exchanges in the U.S., granted the crowdfunding startup an ATS license, letting it facilitate secondary trading of private equities – though notably, these equities cannot be tokenized. In particular, SeedInvest will offer its users the ability to trade equities first launched on the company’s primary markets platform, including startup shares after initial investment. According to a press release, SeedInvest is the first equity crowdfunding platform to receive FINRA approval to operate a secondary trading marketplace. No tokens (yet) While SeedInvest can facilitate secondary trading of equity, only the company’s existing business – meaning traditional securities – can be traded.

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