01 Nov 2018 Samantha McLauren
Bithumb Partners with SeriesOne to Open US Security Token Exchange
South Korean news agency Yonhap announced that SeriesOne selected Bithumb as the most suitable partner to develop a global financial firm as blockchain-based asset tokenization is on the way to global expansion.
Security tokens provide not only the usual benefits of crypto assets – purchase of goods and services – but also count with value appreciation and investment return.
The exchange is supposedly going to be established in the early months of 2019, with SeriesOne helping on US soil, while Bithumb will provide the technical support and funds for the exchange, sources have revealed.
This is the second crypto-related announcement concerning Bithumb that headlines the news in the past few weeks. In early October, the company revealed its plans to create a decentralized exchange on a global scale. The project will be completed with another Bithumb partner - OneRoot Network.
OneRoot Network is a blockchain provider that developed its own Ethereum-based transaction protocol – R1. The protocol is designed to improve matching efficiency and security levels, thanks to its specific process flow which separates order matching and execution.
2018 has been a challenging year for Bithumb at times. In June the company suffered a major hack which led to a significant loss of 30$ million. Thankfully, approximately 14$ million have been recovered since. The recovery was made possible with the help of Bithumb’s industry partners - Chagelly – a Hong-Kong based, as revealed last week.
Despite the challenges, Bithumb is looking ahead to a brighter future giving the green light to its ambitions and development strategy. Currently, it is listed as the №1 exchange on CoinMarketCap, with a daily trade volume of over 1.7 billion US dollars. The latest news can only assure Bithumb’s community that its future developments are on the way to becoming reality soon.Ethereum Cryptocurrency exchange Bithumb Ethereum news coinmarketcap