Companies have entered into joint venture to launch a Security Token Exchange in the US
New York, NY – November 1, 2018 – seriesOne, Inc. (“seriesOne”), a blockchain focused FinTech leader created by industry veterans with expertise across technology, investment banking, venture capital and financial compliance, today announced its agreement to form a joint venture with Bithumb, one of the top crypto exchanges in the world.
Under the terms of the agreement, Bithumb and seriesOne will create a new exchange in the United States that will seek to offer a compliant marketplace to trade tokens offered as securities, subject to approval by the SEC, FINRA and other applicable regulatory agencies. In addition, Bithumb is investing in a seriesOne entity in South Korea to scale technical development and marketing.
The South Korea based Bithumb service enjoys outstanding global recognition as a leading cryptocurrency exchange. seriesOne develops proprietary technologies designed to provide a compliant and efficient platform for security tokens and other equity and debt offerings in the US in compliance with exemptions from registration such as Reg CF and Regulation D. Together the companies believe they are well positioned to execute on a global token exchange that operates in compliance under US securities laws.
As previously announced, seriesOne has appointed Kaine Kim as Managing Director of seriesOne South Korea and Head of Asian Operations, and subsequently incorporated seriesOne South Korea. Mr. Kim was a former Deputy Director of South Korea’s Financial Services Commission (“FSC”) and joined the seriesOne leadership team early 2018.
Back Young Heo, CEO of Bithumb, remarked, “We are very excited about this venture with seriesOne. We are not only impressed by the mix of talent between investment banking, compliance and technology of the seriesOne team, but also with its deep understanding of US securities regulations and how they apply to token offerings.”
“We are thrilled to collaborate with a global leader in the blockchain and crypto space”, said Michael Mildenberger, CEO of seriesOne. “I believe that our companies will be able to create a unique product to not only tokenize major assets, but that could also create liquidity through a compliant token exchange.”
Bithumb is a global comprehensive financial platform company that provides leading innovation based on cryptocurrency, blockchain, and FinTech. Bithumb enjoys overwhelming recognition in the cryptocurrency industry along with high customer loyalty. Bithumb’s daily maximum transaction amount has exceeded KRW 6.5 trillion, and the monthly maximum has exceeded KRW 113 trillion. By providing abundant liquidity, transaction security, and transparent operations, Bithumb has become one of the largest South Korean exchanges.
seriesOne is a leading blockchain based FinTech company formed by industry veterans with decades of expertise across technology, investment banking, venture capital and financial compliance. The firm provides a proprietary fundraising technology, strategic leadership and regulatory compliance tools. All seriesOne services are designed to be compliant with the United States securities laws and exemptions such as Regulation D, Regulation Crowdfunding, and Regulation A+.
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