STO (Securitization Token Issuance), Stablecoin, two recent hotspots in the currency circle, have been "contracted" by the top exchanges.
On October 18, Li Zhikai, director of OKEx's financial market, announced at the Security Token Future Conference held in Hong Kong that OKEx has now established a joint venture with the Malta Stock Exchange and will establish a securities token exchange in accordance with its regulatory framework.
On October 19th, Will Wang, head of Huobi Ecology in North America, also publicly declared that the next 18 months will be an acceleration period for the development of the STO industry. Huobi Ecology hopes to accelerate the global development of the STO ecology through investment and cooperation promotion. Blockchain technology to improve the efficiency of global financial markets. This statement seems to indicate that Huobi is also thinking about the STO exchange.
In fact, before the ICO boom has completely subsided, STO has become a hot topic in the market due to its "blockchain version of IPO" characteristics. From the perspective of token form, STO tokens are tangible assets; from the perspective of regulation, STO needs to conduct legal and compliant public issuance of tokens under a certain regulatory framework and in accordance with the requirements of laws, regulations, and administrative regulations.
OKex Li Zhikai’s statement reflects the views of most supporters on securities tokens. He believes that there are many opportunities in the market, and STO (Security Token Issuance) has the characteristics of high efficiency, easy supervision, and low cost: “First of all, the STO lending area Block chain technology allows some financial contracts that are not easily circulated to be circulated and settled globally efficiently, at low cost and quickly, greatly reducing the transaction threshold and cost; secondly, it will be easier for regulators to conduct penetrating supervision on STO transactions. Regulatory measures such as Anti-money laundering, investor access, transaction contract design, etc. are easier to control; finally, the compliance costs brought about by STO are reduced, making it easier for small and medium-sized enterprises to issue more complex financial contracts to manage risks, raise funds and resell assets. Ultimately, the social resource allocation mechanism will operate more efficiently."
In addition to STO, when USDT is in crisis recently, leading exchanges are also taking stablecoins into consideration. In August, Terra, a stablecoin project launched by Korean e-commerce platform TMON, received USD 32 million in seed round financing. Rarely among the investors are Binance, Huobi, and Okex, the three major domestic exchanges.
Today (October 19), Huobi officially announced the launch of HUSD, a comprehensive stablecoin solution, becoming the first domestic exchange to launch a stablecoin. On Huobi Global, when a user recharges a stable currency, it will be reflected in the account as HUSD. When the user withdraws the currency, he can choose to withdraw any stable currency; when the stock of a currency is insufficient, he can also choose Option to propose other stablecoins.
Looking back on September 8, 2017, the regulatory authorities forcibly shut down domestic digital currency exchanges, and exchanges have left overseas one after another, and an arms race for overseas licenses is imminent. Today, as the pace of license competition slows down, the track has quietly transformed into an industrial ecological siege.
Among them, Huobi, which has the largest span, has already touched its ecological layout to mining pools, Huobi Wallet, Huobi Information, Huobi University, Blockchain Research Institute, public chain campaigns, Huobi Cloud, etc. The latest news is that the launch of The instant messaging product Huoxin, and the launch of six major financial products: Huobi Lending Tool, Huobi Futures Right Tool, Huobi Pledge Tool, Huobi Custody Tool, Huobi Bulk Tool, and Huobi HB10 Index Tool.
Although the span between Binance and OKex is not large, the layout is much more precise. Binance started the incubator Binance labs, established a $1 billion social impact fund in May this year, and launched a legal currency exchange in Malta in June. OKex also released three major strategic plans in June this year, establishing respectively: an exchange alliance, a co-creative community self-governing exchange Coinall, and a 10 billion yuan fund of funds.
At present, STO and stable currency have become the biggest fat meat. For the exchanges that are firmly in the top three in China, a staking battle is inevitable.
