Blockchain oracle network XY Labs' shares start trading at SEC-registered platform
A blockchain firm founded in 2012 is making its shares available for trading on a blockchain-based alternative trading platform for capital markets.
XY Labs, the blockchain company behind the XYO protocol, has announced that its Class A Common stock started trading on tZERO ATS, the alternative trading system subsidiary of the stock broker tZERO Group.
According to the blockchain oracle data provider, this will be the first time that shareholders will be able to access XY Labs shares on a regulated trading venue. Arie Trouw, the CEO of XY Labs, commented that this provides several benefits for shareholders, including low trading fees and continuous liquidity.
tZERO ATS is a broker registered with the United States Securities and Exchanges Commission (SEC) and a member of the country’s Financial Industry Regulatory Authority and Securities Investor Protection Corporation. The firm uses smart contracts on the Ethereum blockchain and offers digitally enhanced securities.
David Goone, the CEO of tZERO, said that their team is looking forward to continuing their collaboration with XY Labs as they expand their product offerings. “[...]We strive to expand the digital securities trading on our platform by growing assets offered and the number of investors utilizing the platform,” Goone said.
Related: NY Stock Exchange owner ICE buys stake in tZero security token platform
XY Labs achieved a network of over 4 million nodes worldwide in June on its XYO protocol. In an ask-me-anything (AMA) session with Cointelegraph Markets Pro, Trouw said that the project uses blockchain to memorialize answers and provide transparency through linking supporting data using immutable hashes.
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