A next-generation security token exchange, ABE Global, raised $3 million

07 Mar, 2019 | Updated: 07 Mar, 2019
by Joeri Cant
News
A next-generation security token exchange, ABE Global, raised $3 million

ABE Global, a new hybrid blockchain exchange, announced that it has raised $3 million in funding from strategic investors, which include Distributed Global, Galaxy Digital, and Gumi Ventures, and that they are ready to help small U.S. companies go public with a minimal compliance burden.

According to Cryptoninjas, ABE Global blends new distributed ledger technology and traditional financial technology, and will utilize tokenization to power an exchange designed to maximize market accessibility and democratize capital for more efficient financial products.

ABE combines the security and reliability of traditional exchanges with the cost savings of distributed ledgers. The ABE exchange uses a unique adaptive auction technology to deliver direct access to global capital markets for 90% less cost and dramatically increased transparency.

John Pigott, the co-founder and CEO of ABE Global, said that they ABE will connect a world of investors with a world of opportunities.

'ABE combines 24-hour global trading with a unified compliance process for global markets', he said.

Joel Blom, co-founder, and COO of ABE Global, added that tokenization is about using blockchain technology to re-engineer the life cycle of financial assets.

'We are building an exchange to fully take advantage of this technology for low-cost issuance and trading of innovative tokenized financial instruments.'

Read more: Is Ethereum at $100,000 really possible?

According to its website, ABE explained that part of building a better exchange is making it safer.

'While many unlicensed crypto exchanges have been hacked with resulting loss to investors, ABE has partnered with global custodians to create a path for regular brokerages and investment management platforms to safely and easily hold tokenized investment instruments'

ABE Global plans to launch mid-2019 and aims to list over 100 tokens by the end of this year. Two of its three founders are Wall Street veterans who built trading businesses and sold them to well-known institutions.

The CEO of the new Atlanta-based exchange added that they will be doing the next institutional funding round probably in the next two months.

'However', he added. 'We’ve got plenty of capital for what we’re going to do in the next year or two.'

According to the founders of the exchange, the main advantage ABE Global will be its network of branches in different jurisdictions, the key one being Malta.

'The regulators there have shown interest in supporting the new technology, they have educated themselves and they are really sophisticated about it.'

Read more: What does Elon Musk have to say about Bitcoin?

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another big raise of funds at the crypto market. i think this industry is currently one of the most promising on ROI
07 Mar, 2019 - 08:50

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