OKEx is accelerating its global expansion by joining GLASS, the Global Liquidity And Settlement System developed by SharesPost. When GLASS becomes operational, OKEx will have both compliant access to investors in the U.S. and other crypto trading markets and the ability to pool liquidity with other GLASS exchanges on a trading pair by trading pair basis.
“We are excited to see GLASS gaining broad acceptance in the crypto exchange community,” said Jason Lau, OKEx’s VP of Business Development. “There is a growing demand for a decentralized liquidity and settlement solution in the market. Combining SharesPost’s regulatory infrastructure and OKEx’s deep pool of digital asset liquidity, GLASS will offer exchanges the most efficient, lowest cost way to settle compliant security tokens trades.”
GLASS will be fully compliant with the regulations of all the jurisdictions in which its member exchanges operate. By connecting trading platforms with a global network of licensed entities (e.g., ATS, broker dealer, etc.), the system ensures that security token transactions will adhere to local securities laws. As the network develops, member exchanges will be able to expand their user bases and supported asset types, including private growth equity assets, tokenized assets, and other emerging security products. OKEx will also be able to settle trades for other GLASS member exchanges in countries where it has the appropriate licenses.
“By joining GLASS, the world’s leading crypto exchanges are signaling their commitment to compliant trading of blockchain securities and their belief that GLASS will soon make that a reality,” said Greg Brogger, Founder and CEO of SharesPost. “We are also excited that GLASS will help generate liquidity for thinly traded tokens. In the aggregate, exchanges on the GLASS network already represent the world’s single largest pool of token liquidity. We are pleased that all participants will benefit from the network’s economies of scale and network effects.”
Photo Credits: Okex