Milestone: Security Token First Traded on Regulated Platform
[ChainDD report] January 11 (ChainDD) SharePost, a registered broker-dealer, alternative trading system (ATS) and registered investment advisor, announced on January 9 that it has executed secondary trade with BCAP tokens. This is the first digital securities’ transaction on a regulated platform, as well as a milestone for on-chain security token’s secondary trade.
Though not disclosing the size of the BCAP trade, SharePost’s Digital Asset Group CEO John Wu told CoinDesk that it was a proof-of-concept (PoC) transaction in essence, namely, a small trade just like a pilot project, and his company is testing the water.
The Ethereum based BCAP is issued by a venture capital firm Blockchain Capital, representing shares of Blockchain Capital III Digital Liquid Venture Fund.
SharePost’s CEO Greg Brogger expects digital securities will play an outstanding role in the private capital market. SharePost is excited to be a platform connecting more than 50,000 institution and individual accredited investors with pioneer companies and funds like Blockchain Capital in terms of blockchain application in finance.