IDCM Major Crypto Exchange Announces Security Token Issuance and Trading Platform
IDCM, among the top 20 largest exchanges in the world by trading volume ($135 million over 24 hours), has rolled out a new security token trading platform.
An announcement released by ICORating on November 27 claims that security tokens offered on IDCM’s new platform will be issued by Proof Global Limited, an STO issuance platform and sister company of IDCM exchange.
Several tokens have already been listed with BTC and ETH trading pairs on the exchange’s new STO Board, including Polymath’s POLY, AirSwap’s AST, and Bancor’s BNT. A BNT/USDT trading pair has also been listed.
IDCM refers to STOs as the "conversion of existing traditional assets, such as stock rights, creditor rights, properties, profits, and artwork, into assets on a blockchain". Several large STOs have already been conducted in full compliance with securities regulators, including a $30 million luxury residential real estate offering in Manhattan spearheaded by AirSwap, Propellr, and the Serhant Team, the second highest grossing real estate agency in the US, as ranked by Real Trends of the Wall Street Journal.
According to the press release, IDCM’s new web-based STO issuance platform will enable the creation of tokens under the Proof Token 20+ (PT20+) standard with "full regulation compliance", including built-in KYC/AML and whitelisting. Tokenization infrastructure will prove to be a deciding factor for the overall success of the new platform. IDCM is deciding between two tokenization platforms, everiToken and Ethereum.
ICORating, the market’s leading rating agency, will provide rating and evaluation services for promising security token projects hoping to be listed on IDCM’s new STO Board using their new STO rating service and evaluation methodology.
IDCM Management said that security token trend is "undeniable", noting that the "fully-compliant status of STOs makes them attractive to a wide range of investors, including those in the upper reaches of institutional capital". "We aim to establish IDCM as a market leader in the STO space", IDCM added.