BSTX has gotten the approval of the US Securities and Exchange Commission for a blockchain-based securities exchange.
The firm’s CEO, Lisa Fall, says that the exchange would offer regulated services in the emerging space for retail and institutional investors.
Fall adds that the approval would be an opportunity for innovation in the firm touching both the issuers and traders across the conventional and emerging field of Finance.
SEC notes that the approval is conditional and requires BSTX to join relevant national market systems plans and be part of the Intermarket surveillance group.
The firm expects instant or accelerated settlement of T+0 or T+1, and data would be recorded on a blockchain ledger.
BSTX is a joint company of tZero and Boston Options Exchange Digital Markets. BOX has been waiting for a Security Token Offering approval since 2020.
The commission rejected its application to record securities ownership balances and trading data on Ethereum back in 2020.
Source: Coindesk
