Belarus-based Startup Enables Trading in Tokenized Securities

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As reported by Reuters, Belarus has started a trading platform that allows customers to buy tokenized version of gold,  share, and other traditional assets.

The project is reportedly supported by two firms, VP Capital and Larnabel Ventures. As per Reuters, the government of Belarus has not yet clarified on the launch of the platform, but the state news agency BelTa covered it.

The platform will enable traders to purchase precious metal, foreign exchange, shares, and other traditional assets from Belarus and other nations with digital currencies.

Since its inception, the platform has reportedly issued 150 different types of tokens, with each corresponding to a traditional financial instrument. The company expects to grow this number to 10,000 ultimately.

As per Reuters, articles the government of Belarus has exempted transactions with tokenized securities from taxation till 2023. Although, when registering on the new platform, traders will have to pass an Anti-Money Laundering (AML) verification procedure.

Reuters reported that the platform got 2,000 registration applications within the initial two hours from launch.

Earlier in November 2018, Belarus High-Technologies Park, a national special economic zone devoted to the IT industry, set the rules for the operation of the digital currency market in the nation.

Prior in May, the nation’ s Ministry of Communications and Informatization Mr. Sergey Popkov stated that digital technologies are a top priority for Belarus because of their ability to transform the economy, public administration and social services.