GLASS (Global Liquidity and Settlement System) is a new platform from SharesPost that will give cryptocurrency exchanges the ability to settle compliant trades in any jurisdiction, increase liquidity and benefit from the existing network.
SharesPost is perfectly established to build out the new GLASS network for business success, but more importantly, regulatory compliance. The platform’s main benefits will be to streamline regulatory compliance for exchanges, increase liquidity and providing an investors’ data toolkit.
Streamlining Regulatory Compliance
The network will take care of regulatory compliance, allowing exchanges function internationally. Each jurisdiction or country will feature one or more licensed entities, such as a broker-dealer or Alternative Trading System on the network to settle trades in that jurisdiction.
To increase transaction volume, token trading platforms can submit buy and sell orders for some or all of their tokens to the network. It will connect buyers and sellers from different exchanges, pooling the collective liquidity of participating exchanges.
Other Platform Features
A marketplace for security and utility token issuers will be integrated into the existing SharesPost data research and investment tools. Access to ICOs and secondary trading will also be available. The system will connect directly to SharesPost’s brokerage accounts, which are licensed to manage fiat, cryptocurrency, and securities, whether traditional or digital.
Newest Member – OKCoin
OKCoin launched service to U.S. citizens earlier this month, after they opened an office in San Francisco on June 1, 2018.
SharesPost facilitates growth in late-stage, private companies and their leadership. They provide liquidity, and publish private market data, research and valuation tools. More than 150,000 investors are registered with SharesPost, including more than 50,000 institutions and accredited investors.
It was launched in 2009, and has since matched thousands of buyers and sellers totaling over $4 billion share transactions of 200 leading private companies, such as Facebook, Tesla, Twitter, LinkedIn and Alibaba.
The SharesPost’s U.S. trading platform has offices in New York and San Francisco, and is licensed by the U.S. Securities Exchange Commission as an Alternative Trading System (ATS), and by the Financial Industry Regulatory Authority (FINRA) as a clearing broker-dealer.
A business development subsidiary is licensed and operating in Hong Kong, with similar subsidiaries in Singapore and Dubai working with regulators to gain licensing. Licensed broker-dealer subsidiaries in London and Berlin are planned as well.