Through the new partnership, Stellar-based security tokens will be certified by SharesPost’s Global Liquidity And Settlement System
SharesPost, a leading provider of private company liquidity solutions and private capital markets research, has announced a new partnership with Lightyear.io, a software company that develops applications and infrastructure for the Stellar ecosystem. The partnership entails adding the Stellar Decentralized Exchange, one of the leading decentralized digital asset exchanges, to SharesPost’s Global Liquidity and Settlement System (GLASS) as an exchange node. In conjunction with SharesPost’s existing Alternative Trading System (ATS), GLASS will enable issuers listing security tokens on the Stellar Decentralized Exchange to trade compliantly in every major market globally in the years ahead.
Greg Brogger, Founder and CEO of SharesPost, said: “Lightyear and Stellar will be key partners for SharesPost as we gear up for the launch of GLASS. With their support and expertise, we will add high quality assets to the GLASS network and be one step closer to a global system for trading security tokens and tokenized assets.”
GLASS is a compliant, global network of digital exchanges and OTC pools facilitating the trading, certification, and custody of security tokens and tokenized assets, beginning with SharesPost’s US ATS and Stellar as an initial exchange node. With GLASS, SharesPost, Lightyear and Stellar can serve expanded user bases and supported assets — particularly private growth equity assets, tokenized assets, and other emerging security products.
Boris Reznikov, Director of Partnerships at Lightyear.io., said: “We believe security tokens will play a key role in shaping what the global financial markets will look like in the next couple of years. We’re excited to be partnering with SharesPost on GLASS to play a key role in the development of this new paradigm, and to be able to provide a critical compliance umbrella for security tokens on the Stellar Distributed Exchange.”
SharesPost is a global leader in the private securities market with a long history of providing liquidity to providing liquidity to “unicorns” and other private growth companies. Its U.S. self-clearing broker-dealer and ATS will be launching a fully electronic security token marketplace in H2 2018. Lightyear is the company leading partnerships with issuers and financial institutions on top of Stellar. Lightyear is powered by the Stellar network, an open global protocol enabling low cost, high access, and seamless multi-asset transactions.
SharesPost’s mission is to create liquidity for the private growth asset class. In 2009, SharesPost launched the first online secondary market for private technology company shares. Since then, SharesPost has connected thousands of buyers and sellers in more than $4 billion worth of transactions in the shares of more than 200 leading technology companies.
The SharesPost platform now also enables clients to access a variety of private market investment and liquidity solutions including (i) research and data on leading private technology companies, (ii) the SharesPost Private Growth Index, (iii) the SharesPost100 Fund, a registered closed-end interval fund providing all investors with easy access to the asset class, and (iv) SharesPost Lending, which enables private company shareholders to borrow against their shares. In 2017, SharesPost managed its first Initial Coin Offering and in 2018 announced plans to integrate trading of digital securities into the SharesPost platform.
SharesPost is a FINRA-registered broker-dealer, SEC registered Alternative Trading System and Registered Investment Advisor. For more information, visit SharesPost.com.
GLASS is a decentralized liquidity and settlement network for crypto trading platforms and exchanges.
Participating exchanges will deepen their liquidity, drive incremental transaction volume and settle compliant token transactions in all jurisdictions irrespective of whether or not the tokens are securities. The GLASS network will be anchored initially by the SharesPost Marketplace, an already established U.S. Alternative Trading System for digital and other unregistered securities.
Lightyear supports global partner activities through the development of applications and infrastructure for the Stellar network, a free, open-source financial protocol that connects diverse financial systems. The company, which leverages the Stellar network, is aligned with Stellar.org’s primary mission of creating an open and public financial infrastructure, enabling more access for individuals, lower costs for banks, and more revenue for businesses. For more on Lightyear, please visit www.lightyear.io.
Stellar.org is a Silicon Valley based nonprofit organization that supports the Stellar network, a free, open-source network that connects diverse financial systems and lets anyone build low-cost financial services—payments, savings, loans, insurance—for their community. The Stellar network enables money to move directly between people, companies and financial institutions as easily as email. This interconnectivity means more access for individuals, lower costs for banks, and more revenue for businesses. For more, please visit www.stellar.org.