By Alicia Maher
XY Labs, a blockchain company created in 2012, has made its shares available on a blockchain-based and SEC-approved trading platform, tZERO ATS. This is a massive achievement for the platform and its clients.
XY Labs Class A Common Stock Now Available On tZERO ATS
XY Labs, a rising blockchain firm, announced recently that it had launched its Class A stock on tZERO ATS. tZERO ATS is the substitute Trading firm and a subsidiary of the tZERO Group, a famous stock broker.
Additionally, XY Labs said this is the first time shareholders can access the company’s shares using a licensed trading platform. Arie Trouw, XY Labs’ CEO, said this would be beneficial to shareholders of the company.
Also, it has other benefits, which are continuous liquidity and minimal trading fees. tZERO ATS is a registered broker that is licensed by the US SEC (Securities Exchange Commission).
Additionally, the firm is a member of the nation’s Financial Industry Regulatory Authority and Securities Investor Protection Corporation. It uses smart contracts that are built on the ETH networks while providing enhanced securities.
tZERO’s CEO, David Goone, applauded the blockchain firm sing that his team is happy to partner with XY Labs. According to Goone, tZERO wants to expand the number of digital securities available to investors on its platform.
XY Labs Attain 4 Million Nodes In June
XY Labs attained a network of more than 4 million nodes globally in June on its XYO protocol. According to Cointelegraph, Trouw said the project makes use of blockchain technology to memorialize all answers.
Also, it provides transparency by linking the supporting data through immutable hashes. Meanwhile, Exodus, a crypto wallet service, also launched on Securitize Markets in March. Securitize Markets, just like tZERO, is licensed and registered with US SEC.
This allows investors of the company from all over the US and globally to trade its Class A common stocks. The wallet’s Class A stock is trading under the tag EXOD.
Also, it operates on the Algorand network using common stock tokens. Also, the wallet’s shares debuted on tZero last September.
After the successful debut of Exodus shares on tZero in September 2021, a representative for the company stated that Securitize Markets is the 2nd trading platform to list the company’s shares.
According to JP Richardson, co-founder, and CEO of Exodus, the latest listing on Securitize makes it possible for the company to attract new investors and generate cash.
Meanwhile, Securitize is backed by giant crypto firms and investors such as Morgan Stanley, Blockchain Capital, and Coinbase.
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