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Bittrex exchange teams to offer alternative blockchain-based digital securities trading

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Peter Terlato
Posted: 24 August 2018 6:08 am
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The platform will utilize licensed broker-dealer tools, industry experience and Bittrex's blockchain expertise.

US-based digital exchange Bittrex has partnered with Rialto Trading to optimistically set up a new digital securities trading platform, merging industry expertise and financial services capabilities.

Rialto Trading is an Alternative Trading System (ATS) for fixed income products. The deal will see the company expand its operations to include blockchain-based securities for institutional investors and clients.

The firms will utilize Rialto's licensed broker-dealer ATS, tools and securities industry experience and Bittrex's proficiency with distributed ledger technology (DLT) to support the upcoming trading marketplace.

The system will support US dollar (fiat) trading for digital securities. Rialto Trading will also provide ancillary services including issuance advisory services, as well as placement, trading and custody.

"It takes a unique combination of advanced technology and financial expertise to build and launch an efficient, reliable and secure platform for trading digital securities, and we found the ideal partner in Rialto and its CEO Shari Noonan," Bittrex chief executive Bill Shihara said in a press release announcing the partnership.

Interested parties, such as securities issuers, accredited investors, institutional investors, corporations and US-registered broker-dealers, can lodge their interest in obtaining an account via Rialto Trading's website.

The new platform will available for use pending regulator approvals.

In July, crypto exchange Coinbase acquired licences to operate as a broker-dealer, an alternative trading system and a registered investment adviser. This allows Coinbase to offer security tokens, such as ICO coins, which pay dividends, under federal oversight. Previously Coinbase operated under a patchwork licensing scheme.

Binance vs Bittrex: Which exchange meets your needs?

Bittrex exchange will act as Ripple's preferred partner for xRapid transactions in US dollars, while Mexico's Bitso and the Philippines' Coins.ph will be the recommended exchanges in those countries.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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