A website based in Belarus has launched a website which is claiming to be the first trading exchange to trade digital currency for assets such as gold and other traditional financial assets. An Estonian exchange, DX Exchange, had actually claimed the same earlier this month.
The site allowing the purchase of tokens, which represent real assets, was the brainchild of investment companies VP Capital and Larnabel Ventures. The website also facilitates the tracking of asset shares purchased both within Belarus and internationally.
Reports indicate a flurry of activity once the site was launched, with over 2,000 applications received. The advantage of being able to purchase assets such as gold and oil globally from the site without recourse to fiat currency clearly had early interest, however, Viktor Prokopenya, VP Capital’s owner, is warning applicants that the platform has strict money laundering checks enforced before users are finally approved.
150 different tokenized securities have been provided, with the intention of expanding this to more than 10, 000 over time. The company ensures new users that its standards are in line with internationally-accepted standards.
Belarus is one of a group of central European nations which is looking to promote itself as a cryptocurrency hub with the country’s Minister of Communications Sergey Popkov promoting emerging technologies such as blockchain and cryptocurrency as a governmental priority moving forward.
A recent document published by Belarus High-Technologies Park highlighted the country’s push to establish a set of governing rules for operating the cryptocurrency market. The document was termed as “the second stage of cryptocurrency regulation”, which contained details of the approved regulations for activities with digital tokens. It specified requirements for different businesses looking to venture into the world of cryptocurrencies or initial coin offerings (ICOs) in the country.
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