Bit2Me enters the Treasury testing ground to develop its Security Token Exchange (STX) project.

Bit2Me, the leading digital asset firm in the Spanish market, has entered the fifth cohort of the Tesoro Público’s financial sandbox with the ‘Bit2Me Security Tokens Exchange STX’ project, supervised by the CNMV.

The financial sandbox allows the testing of technological innovations applicable to the financial system in a test environment controlled by the supervisory authorities and, in this case, the Bit2Me Security Tokens Exchange project involves the creation of an Exchange where both the issuance and placement and the trading and settlement of financial instruments on a blockchain are allowed.

Security tokens, referred to in this project, are non-complex stocks and bonds that are financial instruments regulated by the Securities Market Law and registered on the blockchain. The development of this market infrastructure on blockchain allows benefiting from many efficiencies, as well as the union of issuers and investors without intermediaries with the security guarantees of the Web3 and with all the regulatory guarantees and transparency and investor protection.

With this initiative, Bit2Me takes a further step towards its goal of becoming the most relevant player in its sector, and strengthens its position within a favorable regulatory environment with the European MiCA Regulation expected to be implemented in 2024.

Bit2Me and the supervisory authorities will now begin negotiating the test protocol, a document that sets out the conditions under which the tests will be carried out. Once the protocol has been signed, the informed consent of the participants has been obtained and the system of guarantees has been activated, the testing period will begin.

For Leif Ferreira, CEO of Bit2Me, “the entry of Bit2me Security Tokens Exchange (STX) in the financial sandbox is a very important milestone to start the way to institutionalize, democratize and promote the use of value tokens among issuers seeking funding and investors looking for profitability but in an innovative format, such as the DLT blockchain, and at the same time as secure, regulated and supervised as the traditional stock exchanges”.

Picture Copyright: sir270