Lykke & Nxchange to Launch New Tokenized Securities Exchange

  • Experienced trading platform developers, Lykke and Nxchange, will be launching a tokenized securities exchange. 
  • In addition to cryptoassets, the new exchange will facilitate the trading of traditional assets such as equities and bonds.

Lykke, a Switzerland-based developer of a blockchain-enabled ”global marketplace for the free exchange of financial assets”, and Nxchange, a “regulated market / multilateral trading facility-licensed” Dutch securities exchange platform, have partnered to launch a Europe-based regulated tokenized securities exchange.

According to the announcement’s press release, the partnership will involve Lykke becoming an equity shareholder in Nxchange.

The development of the new securities exchange platform will be funded by Lykke.

Trading Cryptoassets, Equities, Bonds, Investment Products

Notably, the exchange will use proprietary blockchain-enabled “cryptoasset trading infrastructure” developed by Lykke. Nxchange is expected to contribute to the project by helping to “facilitate safe and regulated trading” on the new tokenized securities exchange.

Investors will be able access “a far greater and more diverse variety of financial assets” via the regulated platform, and the Lykke Nxchange wallet will be provided to users so that they can “access and store digital assets on the exchange.”

Any asset or security such as traditional equities, bonds, loans, and investment products may be “tokenized and traded” on Lykke and Nxchange’s blockchain-powered trading platform.

Moreover, the exchange will use “embedded” smart contracts to “guarantee the rights of all users” - which includes the distribution of dividends, “voting rights”, and “asset ownership.”

A "More Equitable And Democratic Financial World"

Nxchange has also partnered with ABN Amro, the third largest bank in the Netherlands, in order to develop a distributed ledger technology (DLT) based bank account. It will be used to settle transactions in “real-time against fiat currencies” - which will be held in the “custody of ABN Amro clearing bank.”

Commenting on the development of the tokenized securities exchange, Richard Olsen, the founder of Lykke Corp. and futures commission merchant, OANDA, said:

This is a historic day - not only for Lykke and Nxchange as companies – but for our broader shared vision that is targeted at a more equitable and democratic financial world. The increasing acceptance of digital assets and blockchain infrastructure as the technology of the future correctly comes with a greater emphasis on regulation and compliance. This partnership envisages to satisfy all these things while still bringing all the benefits of transformative technology to any individual who wishes to access or exchange anything of value.

Richard Olsen

"Real-Time, 24/7, Transparent" Capital Market Transactions

Marleen Evertsz, the founder and CEO of Nxchange, remarked: 

We believe that the time has come for a more modern form of capital market transactions: efficient, real-time, 24/7, transparent, and supported by compliance procedures that assure maximum security. We are delighted to partner with Lykke and to join forces in building the Next Generation Stock Exchange.

Marlene Evertsz

As CryptoGlobe reported recently, South Korea-based crypto exchange, Bithumb, and American crowdfunding platform, SeriesOne, have announced that they will be launching a US-based securities token exchange.

The exchange is expected to go live in early 2019.

ConsenSys Confirms 'Vast Expansion' of Blockchain Industry

The developers at ConsenSys, a Brooklyn, New York-based organization focused on Ethereum-related development, have published a blog post in which they revealed that the nascent blockchain ecosystem “continues to see vast expansion all over the world.”

According to ConsenSys’ management, the evolving distributed ledger technology (DLT) industry needs business development and project managers, UI/UX designers, software architects, and adequate capital allocation.

Large blockchain-focused enterprises and major DLT-based infrastructural projects have now been launched as the crypto industry continues to grow, ConsenSys’ blog post noted. Crypto startups have also “grown into formidable businesses” with “growing hiring needs”, the ConsenSys team revealed.

“Need for Thousands of Non-Tech Roles”

In order to help blockchain job seekers get started, the ConsenSys team has compiled a handy “knowledge checklist”, links to useful DLT-related information, “learning hubs”, and other pertinent resources.

Per the developers at ConsenSys: 

It’s not all cryptography and distributed systems, there’s a need for thousands of non-technical roles ranging from publicists to content creators, community managers and admin positions.

However, the majority of blockchain-related jobs require skilled developers and the need for experienced software architects “continues to be the area of most demand”, ConsenSys’ report confirmed.

LinkedIn: “33x Increase” in Demand for DLT Software Architects

Notably, blockchain developers topped the global list for job roles with the highest overall growth. This, according to LinkedIn’s 2018 U.S. Emerging Jobs Report which revealed that the demand for DLT software architects “grew 33x over the previous year.”

As detailed in LinkedIn’s market research report, fintech firms and other organizations currently looking for blockchain developers “range from small remote teams to VC-funded startups to industry leaders and tech giants.”

Established multinational IT and professional services firms such as Ernst & Young, Deloitte, Oracle, IBM, and Microsoft are all expanding their respective DLT-focused development teams. Meanwhile, smaller startups including the developers of the Marconi protocol are looking to enhance blockchain network security, privacy, and connectivity.

Blockchain Devs Are Making up to $175,000 per Year

As noted in ConsenSys’ blog, “advertised blockchain developer salaries — using aggregated data from CNBC, Janco Associates, and Burning Glass — range from $125,000 — $175,000.”

Meanwhile, AngelList data shows that salaries for tech jobs in the DLT industry “outweigh equivalent roles in non-blockchain organizations, highlighting the high demand for practical blockchain knowledge already.” Moreover, non-technical roles in the blockchain sector “also outrank similar roles in non-blockchain companies,” market data shows.